The investment marks a pivot for the AI-focused fund, which launched in 2024 under the leadership of Aschenbrenner, a former OpenAI researcher. While initial performance showed promise, the fund recently weathered significant volatility as AI infrastructure stocks slumped. By the end of July, the firm had sold most of its public holdings to Ken Griffin’s Citadel, though it notably retained its position in Anthropic.
In section Startups & Technology
Situational Awareness Bets $400M on Chip Startup Source Foundry
Despite offloading the bulk of its public portfolio last month, Leopold Aschenbrenner’s hedge fund Situational Awareness is doubling down on hardware. The firm has poured an additional $400 million into Source Foundry, a Stanford-founded startup focused on accelerating the chip manufacturing process, bringing its total stake in the company to $500 million.
Following these divestments, the fund’s assets under management reportedly contracted from $20 billion to $10 billion. Aschenbrenner, who entered the hedge fund space with no prior trading experience, has remained active in his private life despite the professional turbulence, reportedly marrying shortly after the portfolio restructuring.
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