FTSE 100 on track for best month since first US attacks on Iran five months ago – as it happened
Live, rolling coverage as London’s biggest companies defy Middle East disruption and UK petrol prices rise to around £1.60 per litre, the highest since Donald Trump ordered renewed strikes The story piquing the interest of the financial press this morning is that of Leopold Aschenbrenner , the AI Wunderkind (he’s German-born) who has been forced to sell off his fund in a fire sale after the AI…
London’s FTSE 100 is set to achieve its highest monthly increase since the initial US strikes on Iran five months ago, defying global disruptions. Petrol prices in the UK have surged to £1.60 per litre, the highest level since Donald Trump initiated renewed strikes.
The focus of financial press interest today is Leopold Aschenbrenner, a 24-year-old AI prodigy hailing from Germany. Aschenbrenner, formerly associated with OpenAI and the FTX Future Fund, had amassed significant funds for his hedge fund after his previous venture's success. However, his high-flying hedge fund has recently suffered a sharp decline.
Within a matter of 24 hours, Aschenbrenner's fund was snapped up at a discounted price by Citadel hedge fund, following a conversation between Griffin and Aschenbrenner. The rapid decline in Aschenbrenner's assets from $45 billion at the beginning of July to approximately $10 billion has been a common narrative in the world of high-flying investors. As one hedge fund executive noted, "Everybody always wants to find the next golden child - it just keeps happening."
Written by urgent.news from The Guardian's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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