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Steven Cohen, founder of Point72 Asset Management, expressed optimism about the stock market's future, anticipating a peak soon amid inflation concerns and uncertainties surrounding U.S. President Trump's policies. He highlighted that Trump's proposed tariffs and immigration policies could hinder economic growth and complicate the Federal Reserve's efforts to manage inflation. Cohen's insights came during an investment conference in Miami, where he also noted the significant rise of the S&P 500 over the past year.
Cohen emphasized the impact of the Chinese AI startup DeepSeek, which has demonstrated competitive capabilities against U.S. rivals like Nvidia, causing a notable drop in Nvidia's stock. He believes that the AI sector is in its early transformative stages, with Point72's new AI-focused fund already showing promising gains. Cohen's strategic shift away from trading to focus on broader firm initiatives reflects his vision for Point72 to evolve beyond a traditional hedge fund.
• Cohen expects stock market peak amid inflation and policy uncertainties.
• DeepSeek's AI model challenges U.S. tech companies like Nvidia.
AI is seen as a transformative force for the economy, with early-stage developments highlighted.
Point72's new AI-focused fund achieved a 14% gain shortly after its launch.
Point72 is an asset management firm that has launched an AI-focused fund to capitalize on emerging technologies.
S. tech giants.
S. tech company whose stock was affected by DeepSeek's competitive AI advancements.
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