Steve Cohen’s Point72 Asset Management is seeking to raise approximately $1 billion for a new stock-picking hedge fund focused on artificial intelligence. The initiative marks a significant move by Cohen, who is also the owner of the New York Mets, into the rapidly growing AI sector. The hedge fund aims to capitalize on the increasing interest and potential of AI technologies. Reports indicate that the fund will target stocks in companies involved in artificial intelligence, such as Nvidia. Investors are expected to pay fees of 3 and 30.