Leopold Aschenbrenner's AI hedge fund Situational Awareness had to unload nearly its entire publicly traded portfolio to Ken Griffin's Citadel after racking up heavy losses on leveraged AI stock positions. Just days earlier, Aschenbrenner had reported a six-month return of 439 percent and pulled in fresh capital. Then margin calls forced the fire sale.

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'?