Situational Awareness, a San Francisco-based hedge fund led by 20-somethings and former OpenAI researcher Leopold Aschenbrenner, has sold the bulk of its stock portfolio to Kenneth Griffin’s Citadel.
The once-envied AI-focused fund entered crisis mode after suffering heavy losses in its tech holdings. These AI-related bets sank, leading to the sale of its assets.
Following the transaction, which served as a bailout from Citadel, the firm addressed its investors. Situational Awareness told its investors, "We let you down this month."