Situational Awareness Hit by AI Selloff

Situational Awareness, Leopold Aschenbrenner's hedge fund, was forced to sell billions of dollars of technology investments that had rapidly lost value, as nervous banks began to demand more collateral for his trades. Ken Griffin's Citadel hedge fund reached out to Situational Awareness and snapped up the investments at a discount, according to a person familiar with the matter. Bloomberg's Anthony Stephens reports.