Editor’s note: the story has been updated with the latest reporting about Situational Awareness’s portfolio.
Leopold Aschenbrenner turned a viral essay about artificial intelligence into Situational Awareness, a $20 billion hedge fund that returned 439% net through June.
This week, after losses in the AI selloff, he was asking his investors and lenders for more cash.
He also offered some of them the chance to buy assets straight out of the portfolio, according to a Financial Times report. One person briefed on the discussions called them ad hoc rather than a coordinated raise.
The fund did not respond to the FT.
