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The Kellogg Foundation, with an $8 billion endowment, is venturing into the world of hedge funds by allocating 20% of its portfolio to quant strategies driven by AI-written algorithms. By collaborating with cutting-edge investment managers utilizing machine-driven algorithms, the foundation aims to enhance its investment approach and generate cash flow for its philanthropic endeavors.
Carlos Rangel, the CIO of the Kellogg Foundation, highlights the challenges posed by the limited data available in financial markets compared to other sectors like medical research or climate modeling. The foundation's diversified hedge fund mandates encompass strategies such as zero beta, momentum, long/short, and credit, targeting specific returns while managing risks effectively.
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Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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