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Fortune - Bridgewater \$2 Billion Fund Machine Learning
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Good(3)Good quality. Reputable source with community review or editorial standards, but less rigorous than peer-reviewed venues.
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Relevant as an example of frontier AI model deployment in high-stakes, real-world financial contexts; illustrates growing institutional adoption of systems from leading AI labs like OpenAI and Anthropic outside of traditional tech sectors.
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Importance: 28/100news articlenews
Summary
Bridgewater Associates is launching a $2 billion fund that uses machine learning as its primary decision-making mechanism, incorporating models from OpenAI, Anthropic, and Perplexity alongside proprietary technology built over more than a decade. The fund, run by co-CIO Greg Jensen, represents a major institutional commitment to AI-driven investment and signals broader changes in how hedge funds may deploy frontier AI systems.
Key Points
- •Bridgewater's new $2B fund uses ML as the primary basis for investment decisions, integrating models from OpenAI, Anthropic, and Perplexity.
- •The strategy was piloted with ~$100M sleeve of the main Pure Alpha fund since late 2023 before full launch.
- •Co-CIO Greg Jensen, who has been thinking about ML in investing since 2012, personally invested in OpenAI's first funding round.
- •CEO Nir Bar Dea frames the fund as a transformative moment for Bridgewater, potentially reshaping hiring toward more data scientists.
- •This represents a significant real-world deployment of frontier AI models in high-stakes financial decision-making at institutional scale.
Cited by 1 page
| Page | Type | Quality |
|---|---|---|
| Bridgewater AIA Labs | Organization | 66.0 |
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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
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[Sonali Basak](https://fortune.com/author/sonali-basak/)
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[Bloomberg](https://fortune.com/author/bloomberg/)
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[Sonali Basak](https://fortune.com/author/sonali-basak/)
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[Bloomberg](https://fortune.com/author/bloomberg/)
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July 1, 2024, 12:28 PM ET
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The new fund will be run by Greg Jensen, co-chief investment officer of Bridgewater Associates.Stefan Wermuth—Bloomberg/Getty Images
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Bridgewater Associates is launching a fund that uses machine learning as the primary basis of its decision-making.
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The vehicle will debut with almost $2 billion of capital from more than a half-dozen clients and begin trading Monday, according to people familiar with the matter, who asked not to be identified discussing the strategy.
The hedge fund giant, led by Chief Executive Officer Nir Bar Dea, told investors that it’s leaning on its own proprietary technology that it’s been building for more than a decade. 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.
The new fund will be run by Jensen. 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.
Bridgewater declined to comment on the fund.
Bar Dea, 42, has been transforming Bridgewater since founder Ray Dalio ceded control in late 2022. The fund launch is the latest step in a years-lo
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