AI funds: "We have been disappointed this month": Aschenbrenner's hedge fund loses 67 percent of its value in July
Leveraged AI investments have led to massive fire sales at hedge fund Situational Awareness. And this precisely during the founder's wedding week.
In July, German investor Leopold Aschenbrenner's Situational Awareness hedge fund experienced a 67% drop in value, according to a letter to clients shared by the Wall Street Journal. The fund, established just two years ago, had previously seen significant losses in its AI-related investments, leading to the need for emergency sales.
Citadel, led by Ken Griffin, acquired a substantial portion of the portfolio, valued at nearly ten billion dollars. Aschenbrenner admitted in the letter that the fund had disappointed in the month, which coincided with his planned wedding.
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