Steve Cohen, chairman and CEO of Point72, speaking to CNBC on April 3, 2024.
The firm is aiming to raise $1 billion, with Cohen himself and Point72 employees expected to contribute, the person added.
He has called AI a "really durable theme" for investing, comparing the rise to the technological developments in the 1990s.
I think the markets are discounting some of what we … think AI is going to do for companies," the Point72 founder said in a CNBC interview in April.
Cohen said his investment firm found a way to save $25 million by using large language models such as ChatGPT to improve efficiency.
Persons:
Steve Cohen, Steve Cohen's Point72, Cohen, Point72
Organizations:
CNBC, Bloomberg News, Nvidia, Mets