Thread · 2 stories · Mar 3 – Aug 5 · concluded
Leopold Aschenbrenner's AI hedge fund grew from $1B to $5.5B, then lost 67% in a month and sold its book to Citadel.
Jump to timeline ↓Aschenbrenner's fund turned the Situational Awareness thesis into a trade, growing from $1B to $5.5B on AI infrastructure bets — particularly Bitcoin miners holding scarce grid connections.
Five months later a 67% July drawdown and margin calls forced the sale of its roughly $16 billion public equity book to Citadel, with retail accounts alleging losses.
