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From: Julius Wong1/28/2025 7:11:32 PM
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Steve Cohen says DeepSeek’s disruption ‘bullish’ for AI landscape

Jan. 28, 2025 5:53 PM ET
By: Carla Mozee, SA News Editor

sankai/E+ via Getty Images

Point72 Asset Management’s founder Steven Cohen sees the emergence of Chinese startup DeepSeek’s artificial intelligence technology as beneficial to the industry, according to media reports Tuesday.

The billionaire investor offered his view after U.S. stocks ( SPX) ( COMP:IND) slid Monday, triggered by DeepSeek's updates that highlighted its powerful, low-cost AI model. AI chip behemoth Nvidia’s (NASDAQ: NVDA) market cap was slashed by nearly $600B in the selloff.

"Our view is that what happened with DeepSeek is actually bullish because it advances the move to artificial intelligence," Cohen said in Miami at the iConnections Global Alts conference, Bloomberg reported.

"There'll be new companies that will use these tools and start hearing about that,” Cohen said about growth in AI, according to Reuters.

Point72 Turion, an AI-focused fund launched by Cohen’s firm, has already returned 14% since its October launch, bolstering it to ~$1.5B, Reuters reported.

Nvidia (NASDAQ: NVDA) closed up +8.9% on Tuesday.
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