Point72 Hegde Fund to Start AI Fund

Billionaire investor Steve Cohen’s Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom

The firm is aiming to raise $1 billion, with Cohen himself and Point72 employees expected to contribute.

Cohen recently came out as a long-term AI bull. He has called AI a really durable them for investing, comparing the rise to the technological developments in the 1990s.

The massive rally in AI-related stocks such as Nvidia has lifted the broader market to record highs this year. The chipmaker giant has topped a $3 trillion market cap amid the increasing enthusiasm, while any stock tangentially connected to AI has experienced a runup in value.

$Advanced Micro Devices (AMD.US)$ $NVIDIA (NVDA.US)$ $Taiwan Semiconductor (TSM.US)$ $Qualcomm (QCOM.US)$ $Broadcom (AVGO.US)$ $Microsoft (MSFT.US)$ $Apple (AAPL.US)$ $Arm Holdings (ARM.US)$

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SupaflyCJ : When is this expected to launch? I’ll be keeping my eye on this.

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Brianjh OP SupaflyCJ : late this year or early 2025. not sure if they only open to Accredited investor or retail investors as well

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SupaflyCJ Brianjh OP : Regardless, thanks for sharing at least.

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Brianjh

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