AI-focused hedge fund sells all of its public equities portfolio
Situational Awareness, an AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, has sold its entire public equities portfolio to Citadel. The move comes amid a broader sell-off in AI-related stocks and follows heavy losses for the firm during recent market volatility. The hedge fund reported around $20 billion in assets under management before this transaction. Early investors included Stripe co-founders Patrick and John Collison, former GitHub CEO Nat Friedman, and ex-Apple employee Daniel Gross. The sale was first reported by the Wall Street Journal and highlights growing uncertainty among AI-focused investment vehicles. Situational Awareness had recently sought to raise fresh capital after suffering significant losses during a downturn in AI stocks.
Topics: AI hedge funds market trends stock sales