Leopold Aschenbrenner’s AI hedge fund lost most of its value in a July collapse and dumped its portfolio to Citadel. Now it is back with a $400m bet.

Leopold Aschenbrenner's AI hedge fund Situational Awareness lost 67% in July, forcing a $16 billion portfolio sale to Citadel after margin calls.

Leopold Aschenbrenner's Situational Awareness hedge fund lost 67% in July 2026, selling $16B to Citadel at a discount after concentrated AI bets