Tiger Global, Whale Rock hedge funds fall after AI-driven October selloff
Volatility tied to concerns over AI investments is hitting stock-picking hedge funds as market sentiment shifts in October. The selloff leaves Tiger Global Management roughly flat for the year and trims gains at Whale Rock Capital Management despite its strong 2026 performance.
Highlights
- Tiger Global's hedge fund fell 8.5% in October, erasing most year-to-date gains and leaving performance nearly flat for 2023.
- Whale Rock Capital Management's flagship fund declined about 8% in October, reducing its 2023 gain to approximately 34%.
- AI-driven market volatility in October significantly impacted technology-focused hedge funds, highlighting vulnerability to shifts in investor sentiment.
October losses hit flagship hedge funds
As reported by Bloomberg, Tiger Global Management and Whale Rock Capital Management are among the hedge funds battered last month as worries over AI investments roil markets.The October rout fuels an 8.5% decline for Tiger's hedge fund, according to people familiar with the matter. That leaves the fund little changed on the year.
Whale Rock's flagship fund, which invests in both stocks and private companies, tumbles about 8%, the same people say. The drop pares its gain for 2026 to roughly 34%.
AI concerns pressure hedge fund returns
The moves underscore how concerns around AI-linked investments are spilling into broader portfolio performance for stock-picking managers. Funds with exposure to growth-focused and technology-related bets are vulnerable when market confidence around the theme weakens.For Tiger Global, the October decline erases much of its progress for the year. For Whale Rock, the setback cuts into a still sizable annual gain, showing that even stronger-performing managers are not insulated from sharp shifts in investor sentiment.
Our earlier analysis of the Nasdaq 100’s slide highlighted how a selloff in AI-linked stocks, amplified by worries that higher interest rates could curb sector investment, dragged the index toward one-month lows. We also noted that technical signals were broadly bearish, pointing to a high risk of further downside or near-term consolidation unless key resistance levels were reclaimed.
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