Situational Awareness, the hedge fund that nearly collapsed earlier this year over leveraged AI bets, has established a prime broking relationship with Clear Street, people familiar said

SITUATIONAL AWARENESS BEGINS WORKING WITH CLEAR STREET AS FUND REBUILDS Leopold Aschenbrenner’s hedge fund Situational Awareness has started working with brokerage Clear Street as it rebuilds its public-market portfolio following billions of dollars in losses during the AI sell-off. The fund is rebuilding large positions in AMD, Intel, SK Hynix, SanDisk and CoreWeave, and has recently used customized “flex options” for leveraged upside exposure. Aschenbrenner has told brokers the fund plans to use significantly less leverage than before. Situational Awareness’s assets plunged 67% in July, though the fund was still up 80% YTD at the end of that month. Source: Financial Times

Financial Awareness Bingo📝 DYOR’d (yes, actually) Know where my money is going Didn’t go all-in on one thing Didn’t FOMO because “everyone is doing it” Learned something before clicking “buy” Read the fine print… kinda 👀 “Trust me bro” = 🚩