Leopold Aschenbrenner's hedge fund, known as Situational Awareness, was forced to sell all of its public stock holdings due to significant losses. The fund, which grew to as large as $45 billion, has posted large losses in recent weeks from declines in AI infrastructure investments like SK Hynix.
Aschenbrenner launched the fund after leaving OpenAI in 2024 and quickly became one of the most watched figures in AI investing.
The fund's largest holdings included Nebius Group, Sandisk, Micron, and CoreWeave, all of which have dropped more than 35% this month.
Aschenbrenner became prominent in technology and investing circles after publishing a series of essays in 2024 arguing that rapid advances in artificial intelligence would require a vast expansion of computing power, advanced semiconductors, memory, and energy infrastructure.
