Millennium Management Plans to Raise $20 Billion in Record Bet on AI Market
Millennium Management is in talks to raise approximately $20 billion in new funding, significantly exceeding its initial plans and potentially setting a record for the largest fundraising in the company's history. This round of fundraising will be conducted in two phases, and Millennium Management also plans to swap capital managed by external fund managers, with the work overseen by President Ajay Nagpal. A Goldman Sachs report indicates that the AI boom is expected to lead to a strong year for the hedge fund industry, with all major hedge fund strategies experiencing net inflows in the first half of 2026 for the first time in five years, particularly strong inflows for quantitative and multi-strategy funds. Millennium Management achieved a return rate of 10.5% in 2025, and its assets under management have now exceeded $92 billion.
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