According to Jin10, Wall Street veterans Alex Popa and Charles Elkan are raising funds for a new equity hedge fund run mainly by artificial intelligence agents and models. A Tuesday statement said their investment firm, Poesis, plans to open its first strategy, AI Clarity, to outside clients early next year. Popa and Elkan have managed their own money in the strategy since August. Popa, 46, worked at Capital Group for more than 15 years and was a portfolio manager for its U.S. growth fund. Elkan, 63, is responsible for machine learning at Goldman Sachs. People familiar with the plans said the pair intend to add strategies and eventually create a multi-strategy fund for institutional investors. They could manage tens of billions of dollars with fewer than 100 employees, keeping operating costs below those of large multi-strategy funds such as Citadel and Millennium Management. AI Clarity invests in 80 to 100 large-cap U.S.-listed stocks, with a target holding period of three years. Its AI agents use quantitative models to research and select stocks and decide when to buy and sell. When the agents detect a potential market downturn, they hedge risk by shorting stock indexes. Popa and his team set risk limits and other parameters, and review and approve trades.