HUFFPOST - Citadel Buys Most Of Situational's Stock Holdings After AI Share Rout, Sources Say
Global hedge funds are grappling with their biggest monthly drawdown on record as AI stocks have been routed across the board.
AXIOS (Dan Primack) - AI-focused hedge fund sells all of its stocks
Situational Awareness, an AI -focused hedge fund founded by a former OpenAI researcher, has sold all of its public equities portfolio to Ken Griffin's Citadel, a source tells Axios. Why it matters: This comes amidst a recent sell-off in AI stocks, particularly chipmakers. - News of a sale was first reported by the WSJ . Catch up quick: Former OpenAI researcher Leopold Aschenbrenner founded Situational Awareness after being fired from OpenAI in 2024, over an alleged information leak that he disputes. It recently reported around $20 billion in assets under management. - Early investors included Stripe cofounders Patrick and John Collison, plus former GitHub CEO Nat Friedman, and ex-Apple employee Daniel Gross. Zoom in: Just yesterday, the…
NYTIMES (Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Niko Gallogly, Brian O’Keefe and Ian Mount) - The Chips Rout Goes Global
Shares in semiconductor companies plunged in South Korea and Europe, adding fresh doubts to the durability of the artificial intelligence trade.