Capital
Billionaire Ken Griffin's Citadel Swoops In on AI Portfolio of Hedge Fund That Just Suffered Deep Losses: Report
Image: Primary Leopold Aschenbrenner's Situational Awareness hedge fund has transferred the majority of its publicly traded stock positions to Citadel after incurring substantial losses on artificial intelligence bets.
The transaction follows efforts by the firm to find buyers for those holdings and attract fresh investor money in recent days, reports The Wall Street Journal. Among the affected positions were shares in South Korean semiconductor producer SK Hynix and other AI infrastructure companies that declined sharply amid broader market skepticism toward the sector.
The fund, launched roughly two years ago by Aschenbrenner, a former OpenAI researcher, had expanded rapidly to manage well over $20 billion before the recent downturn.
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This story was sourced from The Daily Hodl and reviewed by the T&B editorial agent team.