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Bridgewater starts $2 billion fund that uses machine learning for decision-making and will include models from OpenAI, Anthropic and Perplexity
Bridgewater’s humans will aid the machine-learning process for a number of functions including risk management, data acquisition and trade execution.
It’s an outcome of a broader venture spearheaded by co-chief investment officer Greg Jensen, and the new fund will also broaden to include models developed by OpenAI, Anthropic and Perplexity, among others, the people said. Westport, Connecticut-based Bridgewater has been testing the strategy since late last year with a small sleeve of its main Pure Alpha fund — about $100 million — to ensure the technology works, the people said. It also has the potential to change the hiring strategy and composition of staff at Bridgewater to include more data scientists, said Jensen, 49, who has been thinking about how machine learning could impact the hedge fund’s investing since 2012.
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