Point72’s Turion Fund Clocks 30% Gains During AI Stock Boom

Point72 Asset Management’s new AI-focused stock-picking fund has delivered gains of about 30% this year as hype around the technology fueled a surge in AI-linked corporate valuations.

Point72’s Turion Fund gained around 9% in October, according to a person familiar with the matter. The fund launched last year and now manages around $3 billion, looking for winners and losers among AI hardware and semiconductor companies globally. It has a more flexible mandate than Point72’s main fund, meaning it may hold some longer-biased positions.