Secretive Hedge Fund QRT Storms $4.5 Trillion Industry’s Elite (1)

Under a low gray sky, a building site sits exposed amid the barren beauty of Iceland in winter. Rising from the frozen earth a timber frame stretches across the view, heralding the birth of a high-spec data center.

This isn’t just the usual tale of an AI-giddy tech giant looking to tap an abundant source of renewable energy and cooling power to help it crunch colossal amounts of information. The facility in the northern city of Akureyri is for a secretive hedge fund, Qube Research & Technologies. And it’s almost certainly a first in this bitterly competitive $4.5 trillion ...