MIAMI, Jan 28 (Reuters) - Point72 Asset Management's

founder Steven Cohen said on Tuesday that the recent

developments announced by Chinese artificial intelligence

startup DeepSeek are positive for the outlook of artificial

intelligence.

"Our view is that what happened with DeepSeek is actually

bullish because it advances the move to artificial

intelligence," he said at the iConnections conference in Miami.

On Monday, DeepSeek caused a rout in tech stocks after it

said were on a par or better than industry-leading rivals in the

United States at a fraction of the cost, sending shares in

Nvidia ( NVDA ) down roughly 17%.

Asked about

the selloff

, Cohen said "great companies are going to be expensive," in

a comment that seemed related to Nvidia ( NVDA ). "There's no way around

that."

"There'll be new companies that will use these tools and

start hearing about that. And then another big advance comes

along and that's how it's going to come. And there are going to

be moments when people are going to doubt it like yesterday," he

told the audience of investment experts.

Point72 has a new artificial intelligence

(AI)-focused fund

that posted a 14% gain after launching it just three months

ago, growing the fund to nearly $1.5 billion.