Steve Cohen, chairman and CEO of POINT72, talks to CNBC on April 3, 2024.
CNBC
Miami Beach, Florida -Million Billion, Steve Cohen, is a long -term bullish view of artificial intelligence despite the recent wild volatility.
“This is the theme of 10 to 20 years, which will affect everyone how they do their lives and how they do their business.” Was told at Iconnections Global Alts Conference on Tuesday. “We are the second inning of something that will be transformed in the economy and the world … I think it’s a mistake to ignore it.”
The comments from the Hedge Fund Point72 chairman and CEO came when a young Chinese AI Startup Deepseek caused a major defeat in US technology stocks. Deepseek’s very competitive model seemed at first glance from a part of the AI story around NVIDIA’s chips and investors’ trust in hype.
Koen, which is also owned by New York Mets, stated that the AI boom could be ups and downs, and accurate lack of information could worsen volatility, mainly in AI -related investment.
“It will be temporary, it will not go straight. It will progress and then quiet,” Cohen said. “And there is a moment when people doubt it like yesterday, and there are many people who do not know what they own or why they own them. Several AI Securities.
NVIDIA, the largest enembler of AI so far, has a 17 % stock tank on Monday, a market value of almost $ 600 billion, declining the value of US companies. The name of MEGACAP rebounded 7 % on Tuesday.
Cohen also revealed that his company has raised $ 1.5 billion for a new AI hedge fund to use the boom.
