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Millennium slips 2.1% in July as AI sell-off hits hedge portfolios

The July decline followed a sharp reversal in AI and semiconductor stocks that weighed on equity exposures across the hedge fund industry.

Reported · Written up by our desk · Hedge Funds

Millennium Management posted a 2.1% loss in July, as a sharp reversal in artificial intelligence and semiconductor stocks weighed on equity portfolios, according to a report by Bloomberg cited by Hedgeweek.

The move reflects broader pressure on multi-strategy hedge funds during the AI sell-off, with investors turning risk-off as earlier momentum in AI linked equities reversed.

Hedgeweek notes that the decline came as equity weakness affected performance across the hedge fund industry, not just within a single strategy.

Millennium’s July result underscores how tightly hedge fund returns can track swings in high-beta areas like AI and semiconductors.

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