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JPMorgan Ends Lending After AI Fund Loses 67%
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— 2d
JPMorgan ended its lending relationship with Situational Awareness, the AI-focused hedge fund founded by Leopold Aschenbrenner, after the fund suffered a 67% drop in July and faced a margin call that led to liquidating much of its public equity; other major banks remain lenders, illustrating a cautious stance by prime brokers toward highly leveraged AI-related bets. The move follows the fund’s heavy exposure to AI and semiconductor equities and underscores the risks of borrowed funding in concentrated, technology-focused strategies.
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Citadel Unwinds 80% AI Portfolio, $4B
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— Aug 21, 2026
Citadel has shed more than 80% of the original Situational Awareness portfolio and completed nearly 100 block trades totaling over $4 billion in market value, according to a letter Ken Griffin sent to investors. The moves de-risk the AI-focused hedge fund’s holdings after its public stock book was heavily damaged, with Citadel’s Wellington Fund posting a notable July return.
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