🚨 THE HOTTEST AI HEDGE FUND ON WALL STREET IS IN BIG TROUBLE Leopold Aschenbrenner’s $20 BILLION Situational Awareness fund suffered heavy losses after the recent performance of AI stocks. Now it is approaching investors and lenders for more capital. • Aschenbrenner launched the fund in 2024 with roughly $225 million. • In under two years, it grew to around $20 BILLION. • The fund reportedly returned 439% net through June 2026. • It used leverage to build concentrated exposure across AI chips, cloud infrastructure, power, and data centers. • They went heavily long on AI infrastructure, power, memory, and data-center names, including $BE, $SNDK, $CRWV, $IREN, $CORZ, and $APLD. • When the AI trade reversed, several of those positions fell faster than the semiconductor hedges could offset. • Existing investors and lenders have now been approached for fresh capital. • Some investors were reportedly offered the opportunity to buy assets directly from the portfolio. Aschenbrenner reportedly told investors the selloff represents a buying opportunity and pointed to a potential Anthropic IPO as a future catalyst. One of the greatest hedge fund runs ever just met its first serious stress test.