Odaily Planet Daily reports that, according to insiders, Situational Awareness, a hedge fund founded and managed by former OpenAI researcher Leopold Aschenbrenner with assets under management of $24 billion, is gradually closing out multiple positions and working to raise capital following sharp declines in AI-related stocks and unsuccessful short bets on software stocks.
Sources indicate that Situational Awareness has suffered significant losses in recent weeks. The fund’s investments in AI infrastructure, such as SK Hynix, have declined in value, while its short positions against software companies like Adobe have incurred substantial losses. It is currently unclear whether the fund has met margin calls through negotiated asset sales or has begun a broader liquidation of its portfolio.
The insider also said the fund is attempting to raise liquidity by selling equity in private companies, including its stake in Anthropic. It is currently unclear how much of Anthropic’s shares the fund plans to sell, but individuals familiar with the transaction said potential buyers have expressed interest in acquiring some or all of the shares. (CNBC)