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Situational Awareness Seeks New Funding After AI Plunge

WSJ +1 ·

NVDA NVIDIA Corp
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  1. 1A $20 billion hedge fund founded by former OpenAI executive Achtenberg is moving to raise new capital following losses from a sharp drop in AI stocks
  2. 2The fund is in talks with existing investors and lenders, has offered some of them asset-purchase options, and recently sold most of its portfolio to Citadel
  3. 3Semiconductor and AI selling in July sent SOXX down 21% this month, and the fund has liquidated most of its holdings, with 13F-disclosed holdings of approximately $13.68 billion

This 3-line summary is compiled from the report below.

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