Coatue Management, a prominent hedge fund, is raising $1 billion to invest in AI-focused companies. This move aims to expand the firm's presence in the growing AI industry. The funding will be raised primarily from institutional investors and may also include high-net-worth individuals with accounts at Raymond James and Associates.

Source: https://techcrunch.com/2024/11/04/coatue-is-raising-1b-for-ai-bets/