tech
AI hedge fund Situational Awareness may have sold its public portfolio, but it still has its Anthropic shares
The former OpenAI researcher’s fund was forced to unwind public equities after leveraged public bets plummeted. But he still has cards to play.
TL;DR
- Situational Awareness, founded by Leopold Aschenbrenner, has sold most of its public stock portfolio to Ken Griffin's Citadel after experiencing steep losses.
- The fund saw rapid growth, with assets under management reaching $45 billion at its peak, before a decline in AI infrastructure investments and leverage led to significant drops.
- Despite mounting losses and a failed attempt to raise fresh capital, Aschenbrenner's fund retains valuable private investments, including a $5 billion stake in Anthropic.
- Aschenbrenner was previously part of OpenAI's 'superalignment' team but was dismissed for improper disclosure of internal information.
- Citadel's purchase aligns with its strategy of acquiring attractive assets from leveraged players who are forced to unwind positions.