Applying to Internships in the US as a European Student

Is it worth applying to US based internship positions if you study abroad? I understand chances are slim, but are there any chances at all? Do banks sponsor J-1 (internship) visas?

Without networking, I assume the chances are nearly zero, or zero. In my case, I have connected with an alumnus that works as an Associate in IB at a BB. I could leverage my connection with him by calling him and moving up the ladder until I get to someone who has the influence to hire interns. Thoughts?

I go to a European target and I have experience in S&T at a BB. I will be applying to positions in Europe as well.

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