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Aschenbrenner AI Losses

A young AI investor’s big bet on public stocks unraveled after steep losses.

Mostly Center from 6 sources

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Updated Jul 30, 7:43pm ET

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Situational Awareness, the AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, was forced to sell most of its public stock portfolio to Ken Griffin’s Citadel after steep losses in AI-related positions. The fund, described as once managing about $20 billion, had also been hurt by a bet against software stocks and a scramble by prime brokers to raise cash for margin requirements. Situational Awareness retained its private investments, including its stake in Anthropic. The unwind drew attention to leverage risk in AI-linked trades as AI stocks rebounded.

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AI Bet ReckoningMostly Center

Situational Awareness’s collapse shows the danger of handing huge sums to young AI believers making concentrated, leveraged bets. The forced sale and fund meltdown punctured the confidence behind Leopold Aschenbrenner’s AI-investing thesis and fueled doubts about this style of investing.

Business Insider
Gizmodo
The Verge

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