POPA ReconWintermute Plans $1 Billion AI Push Into Traditional Markets
Wintermute Plans $1 Billion AI Push Into Traditional Markets The nine-year-old trading firm is attempting to reinvent itself as a dealer in equities, commodities and foreign exchange, in the mold of heavyweights such as Jane Street Group or Citadel Securities, Founder and CEO Evgeny Gaevoy said. Wintermute plans to invest about $1 billion in high-frequency trading and AI data-center infrastructure over the next five years, funded through retained earnings, while expanding into equities, commodities, foreign exchange and prediction markets. CEO Evgeny Gaevoy said average daily trading volum…
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