Steve Cohen says his firm can already save $25M by using AI

Point72 has 30b of AUM, management fee of 3% or so -> They get around 900 million per year to run their fund. 25 million is about 3-2.5% of that. Decent savings.

At the end of the day, dropping costs has an infinite Sharpe so you always go for it, but I honestly thought it would be a bit more.