Hedge fund with $1.1B in Bitcoin miner stocks seeks capital after AI sell-off: FT
Situational Awareness, the hedge fund launched in 2024 by former OpenAI researcher Leopold Aschenbrenner, has reportedly sought new capital and financing after taking heavy losses during the recent sell-off in AI-related stocks. The fund, which was said to manage about $20 billion as of early June, also offered some investors the chance to buy portfolio assets. The size of the losses and the amount sought were not disclosed. A July 24 investor letter reportedly said the fund was up 439% after fees through June, but leverage amplified its positions and worsened losses when AI stocks fell in July. Aschenbrenner said the decline created attractive opportunities. The fund has been heavily exposed to AI infrastructure and Bitcoin miners pivoting into AI computing, with March filings showing about $1.11 billion in positions across seven miner stocks.
