Avala Gains 15% in April on AI, Erasing Double-Digit March Loss

Divya Nettimi’s stock-picking hedge fund Avala Global soared 15% in the first two-and-a-half weeks of April, erasing March losses after snapping up artificial intelligence bets at a discount.

The hedge fund tumbled about 10% in March, leaving it down 7.6% for the year, according to people familiar with the matter. The fund added to some existing AI positions and took new stakes in AI-related data center and electrical equipment companies, one of the people said. Avala was up 6% for the year through April 17.