CNBC sources say Situational Awareness, a hedge fund founded by former OpenAI
researcher Leopold Aschenbrenner and managing about $24bn, is unwinding trades
after taking heavy losses in recent weeks. Losses followed a sell-off in
AI-concept names and failed shorts on software firms: its AI-infrastructure
holdings including SK Hynix fell, while short positions against Adobe incurred
large losses. The fund is reportedly raising liquidity and has been selling
assets, including stakes in private companies such as Anthropic; potential
buyers have expressed interest in part or all of the Anthropic holding. Sources
say it is unclear whether sales are negotiated to meet margin calls or part of a
broader portfolio liquidation.
