Situational Awareness, a hedge fund with about $24bln AUM founded by former OpenAI researcher Leopold Aschenbrenner, suffered heavy losses and sold a large portion of its roughly $16bln in public-equity holdings to Citadel, people familiar with the matter said. The firm retains private stakes including about $5bln in Anthropic, held emergency talks with investors on Wednesday night, and has been contacted by at least three other multi‑billion‑dollar hedge funds in the past 24 hours; it plans to

Situational Awareness, a hedge fund with about $24bln AUM founded by former OpenAI researcher Leopold Aschenbrenner, suffered heavy losses and sold a large portion of its roughly $16bln in public-equity holdings to Citadel, people familiar with the matter said. The firm retains private stakes including about $5bln in Anthropic, held emergency talks with investors on Wednesday night, and has been contacted by at least three other multi‑billion‑dollar hedge funds in the past 24 hours; it plans to continue operating as a private investment firm.