The hedge fund founded by former OpenAI researcher Leopold Aschenbrenner is rapidly unwinding many of its public stock positions after suffering steep losses tied to artificial intelligence investments and bearish bets against software companies.
Aschenbrenner's fund, Situational Awareness, has built its strategy around the expectation that the AI boom would drive sustained demand for chips, memory, data centers and electricity. However, a sharp selloff across many AI-related stocks over the past days has left the fund scrambling to meet margin requirements.
