Steve Cohen says AI will be decades-long theme, but Monday proves it won't be a 'straight line'

Published On Jan 28, 2025, 3:35 PM

Billionaire investor Steve Cohen remains bullish on the long-term potential of artificial intelligence (AI), despite recent market volatility. He believes the technological shift could take decades to fully manifest, noting that the current phase only represents the beginning of a much larger transformation. Cohen emphasized that investments in AI will experience ups and downs, and cautions against relying solely on hype, as seen in the recent sell-off triggered by the competitive offerings from AI startups like DeepSeek. While major companies like Nvidia experienced significant drops, Cohen's firm recently raised $1.5 billion for an AI-focused hedge fund, highlighting ongoing confidence in the sector's potential.