From CNBC: 2024-06-18 13:33:40

Billionaire investor Steve Cohen’s Point72 plans to launch an AI-focused hedge fund, aiming to raise $1 billion from outside investors. Cohen believes AI is a durable theme for investing and has already implemented AI to save his firm $25 million. This move comes amid a massive rally in AI-related stocks like Nvidia.

Read more: Steve Cohen is set to make a big push into investing in AI