5 Stocks Dumb Money’s Steve Cohen Is Betting On Now

2. Microsoft Corporation (NASDAQ:MSFT)

Value of Point72 Asset Management’s 13F Position: $620 million

Number of Hedge Fund Shareholders: 310

Microsoft Corporation (NASDAQ:MSFT) is one of the companies that will benefit greatly from increased demand for AI. Microsoft’s total investment in OpenAI has risen to $13 billion. OpenAI created ChatGPT, a chatbot that became popular due to its ability to craft human-like responses. Shares of Microsoft rallied 33% year to date. 

The number of hedge fund positions in the company increased to 310 in the second quarter, up from 293 in the previous quarter. Dumb Money’s Steve Cohen increased his position in the company by 306% to $620 million in the second quarter.