Situational Awareness hedge fund is seeking new capital after significant losses. The fund experienced heavy declines as artificial intelligence stocks faced pressure. Its value dropped sharply over recent weeks due to market volatility. Several major holdings saw significant percentage decreases in their stock prices. The fund is working with prime brokers to manage its positions.

Leopold Aschenbrenner's hedge fund is unwinding trades and may be forced to liquidate assets, according to people familiar with the matter.

Is Leopold Aschenbrenner the new 'Bill Hwang'?