The rapid emergence of China’s DeepSeek artificial intelligence group is “bullish” for the sector, said billionaire hedge fund manager Steve Cohen, who blamed Monday’s tumble in tech shares on misinformation.
“Our view is that what happened with DeepSeek is actually bullish because it advances the move to artificial super intelligence, and that’s coming and it’s coming quick,” he said at a hedge fund conference in Miami, referring to AI models that may one day have better cognitive reasoning than humans.
His hedge fund Point72 recently launched a new strategy that focuses on trading AI assets, including hardware such as semiconductors. It manages about $1.5bn and is named the Turion Fund after the mathematician Alan Turing.
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