MTS(@MTSlive):We asked @Dratchcap why Leopold Aschenbrenner would own puts on AI stocks if his whole fund is built around the AI boom. He says the puts look more like risk management than a bearish call. “I think it’s just smart risk management.” “He’s got these big positions that he wants to stay in.” “If you have puts that protect you on the way down... that’s sort of a synthetic equivalent of buying the dip.” “I don’t think he’s negative NVIDIA.” “The better trade has been to move down the risk curve from the biggest and the best into things that are a little bit smaller in market cap.”

7hours ago

We asked @Dratchcap why Leopold Aschenbrenner would own puts on AI stocks if his whole fund is built around the AI boom. He says the puts look more like risk management than a bearish call. “I think it’s just smart risk management.” “He’s got these big positions that he wants to stay in.” “If you have puts that protect you on the way down... that’s sort of a synthetic equivalent of buying the dip.” “I don’t think he’s negative NVIDIA.” “The better trade has been to move down the risk curve from the biggest and the best into things that are a little bit smaller in market cap.”

MTS@MTSlive

2026.05.18 15:08

SITUATION UPDATE: Leopold's 13F is out. Moves include bets against NVIDIA, Intel and Broadcom in the form of put options. The reported number is the notional value, not market value - meaning the trades may just be a hedge and the amount he has at risk is much less than reported. His largest long positions are Bloom Energy, Sandisk and CoreWeave.