Star AI investor Leopold Aschenbrenner is unwinding trades after steep losses
The brokers have been marketing a group of the firm's holding on both the long and short side for sale prior to Thursday's start of trading, according to people familiar with the situation.
- ▪The brokers have been marketing a group of the firm's holding on both the long and short side for sale prior to Thursday's start of trading, according to people familiar with the situation.
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| Original publisher | CNBC |
| Canonical URL | https://www.cnbc.com/2026/07/30/leopold-aschenbrenners-hedge-fund-is-facing-steep-ai-losses.html |
| Publication time | Thu, 30 Jul 2026 18:52:55 +0000 |
| Retrieval time | 2026-07-30T18:57:29.406Z |
| Last seen | 2026-07-30T18:57:29.406Z |
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| Summary source text | contentText |
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| Cluster | rK31eLz0_fRT · 1 stories |
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The battered hedge fund founded by former OpenAI researcher Leopold Aschenbrenner is unwinding many of its trades after big losses on artificial intelligence stocks and a bad bet against software stocks left it scrambling to raise cash, according to people familiar with the matter.The prime brokers for the fund, Situational Awareness, have been rushing to raise cash to meet margin requirements, the people said. Ken Griffin's Citadel hedge fund reached a deal to buy the fund's publicly traded assets, people familiar with the deal said.Situational Awareness has sustained significant losses in recent weeks as its portfolio of AI infrastructure investments such as SK Hynix declined while short positions in software companies such as Adobe moved sharply against it, the people said.The fund…
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