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International Business Times UK

Niloy Chakrabarti

Steve Cohen's Point72 to Raise $1 Billion for Launching AI-focused Hedge Fund

Steve Cohen Point72 Steven A Cohen Nvidia

The new hedge fund will have a more flexible mandate.

New York Mets owner and CEO Point72 Steven A. Cohen, 67, recently disclosed that he is bullish on AI's long-term prospects and described it as a "really durable theme" for investing.

According to sources, he plans to launch a separate, AI-focused hedge fund that trades AI hardware and semiconductor firms worldwide.

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