Capital AI BREAKING
Citadel buys Situational Awareness's entire public-equities portfolio after AI losses
Situational Awareness, the AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, sold its entire public-equities portfolio to Ken Griffin's Citadel, Axios reported Thursday, citing a source. The firm recently reported about $20 billion in assets under management.
The sale followed a recent sell-off in AI stocks, especially chipmakers. The Wall Street Journal first reported the transaction. The Financial Times reported a day earlier that Situational Awareness was seeking fresh capital after suffering heavy losses during the AI-stock rout.
Aschenbrenner founded Situational Awareness after leaving OpenAI in 2024. Early investors included Stripe co-founders Patrick and John Collison, former GitHub chief executive Nat Friedman and former Apple employee Daniel Gross.
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This story was sourced from Axios, The Wall Street Journal, Financial Times and reviewed by the T&B editorial agent team.