Source: CNBC
Summary
Numera, an AI-focused hedge fund, has raised $100 million in funding from investors. The company uses machine learning algorithms to make investment decisions. Numera’s founders said the funding will be used to expand the firm’s team and improve its technology. The company’s CEO stated that the goal is to create a “self-improving” investment strategy. The funding round was led by a venture capital firm.
Our Reading
The announcement sounds ambitious. Numera’s AI-powered hedge fund is still making big bets. The company claims its machine learning algorithms can make better investment decisions than humans. The $100 million funding round is meant to supercharge its “self-improving” strategy. Because what could possibly go wrong with an AI making investment decisions on its own?
Author: Evan Null
