Numerai is an AI-run, crowd-sourced hedge fund based in San Francisco. It was created by South African technologist Richard Craib in October 2015. Numerai’s trades are determined by an AI, which is fueled by a network of thousands of anonymous data scientists. Numerai's investment group was led by Howard Morgan of Renaissance Technologies, and its investors include Naval Ravikant. Numerai aims to change the way Wall Street operates by promoting a collaborative approach to investment and money management. Numerai harnesses the power of the collective through a monthly tournament and machine learning. Each month, data scientists submit their predictions and best trading algorithms in exchange for a form of cryptocurrency called Numeraire. Numerai raised $7.5 million in 2016 in two funding rounds.