Leopold Aschenbrenner's Situational Awareness buying options after collapse

Live updates

1. 1d ago

   Aschenbrenner's AI Tracker Retains Portfolio Focus After Fund Collapse

   The investment strategy associated with Leopold Aschenbrenner continues to draw public interest following the steep downturn faced by his artificial intelligence hedge fund, Situational Awareness. Aschenbrenner gained widespread attention in 2024 through essays predicting accelerated progress toward artificial general intelligence and massive economic disruption. He subsequently established Situational Awareness to invest heavily on that premise, viewing artificial intelligence as a primary financial opportunity while maintaining that broader markets underestimated its potential. Investment trackers continue to monitor positions inspired by the fund, offering a window into how specific portfolios approach the volatile technology sector through multi-leg strategies and financial modeling tools.

   Why it matters

   Leopold Aschenbrenner is a former OpenAI researcher whose ambitious macroeconomic projections drew significant attention across technology and financial circles. His hedge fund was founded on the conviction that artificial intelligence development would yield unprecedented financial returns. Financial trackers follow these specific convictions despite severe sector turbulence and recent forced liquidations.

   What is confirmed

   • Leopold Aschenbrenner is a former OpenAI researcher who went viral in 2024 with his essay series arguing that artificial general intelligence is approaching rapidly.
   • Situational Awareness was co-founded by Aschenbrenner as a hedge fund built on the conviction that artificial intelligence is a major investment opportunity.

   What to watch next

   • Further regulatory filings or portfolio adjustments from the Situational Awareness fund
   • Broader market shifts regarding artificial intelligence sector valuations and technology expenditures
   Sources used for this update (2)

   1. infinitycalculator.com — Options Calculator - Greeks, IV Solver, Multi-Leg Strategies
   2. start.joinautopilot.com — Leopold Aschenbrenner Tracker — Autopilot
   confidence 100%
2. 4d ago

   Aschenbrenner Fund Collapses After Massive Losses

   Leopold Aschenbrenner's artificial intelligence hedge fund, Situational Awareness, suffered a 67 percent collapse in July 2026. The 25-year-old manager's portfolio faced forced liquidation after a steep technical decline in artificial intelligence shares. This severe drop adds to intense volatility across the sector as major market players scrutinize soaring technology expenditures. Citadel founder Ken Griffin warned investors that the market is almost certainly experiencing an artificial intelligence bubble.

   Why it matters

   The fund collapse exposes the extreme financial vulnerability tied to leveraged bets on high-flying artificial intelligence infrastructure. Citadel leader Ken Griffin issued warnings regarding an artificial intelligence bubble as corporations evaluate their heavy technology spending. These developments highlight systemic risks within specialized tech funds relying on aggressive options strategies.

   What is confirmed

   • Situational Awareness is a hedge fund managed by 25-year-old Leopold Aschenbrenner.
   • The portfolio of Situational Awareness fell 67% in July 2026 according to an investor letter reviewed by Reuters.
   • Citadel's Ken Griffin warned that investors are almost certainly experiencing an artificial intelligence bubble.

   Still unconfirmed

   • Situational Awareness was forcibly liquidated in late July following a 20% technical decline in artificial intelligence shares.

   What to watch next

   • Official statements from Leopold Aschenbrenner or Situational Awareness regarding recovery plans
   • Further regulatory or investor filings detailing the full extent of the fund losses
   • Broader market reactions to Ken Griffin's artificial intelligence bubble warnings
   Sources used for this update (3)

   1. el7.ai — Hedge Fund Situational Awareness Collapses After… | EL7.AI
   2. www.gate.com — AI Fund Situational Awareness Liquidated 67% in July, Faces ...
   3. www.kucoin.com — Citadel's Ken Griffin Warns of AI Bubble Amid Market ... - KuCoin
   confidence 100%
3. 7d ago

   Situational Awareness Faces Further Losses on AI Options

   Leopold Aschenbrenner's artificial intelligence fund, Situational Awareness, faces fresh drawdowns following a September reentry into AI stocks through options. Coin Bureau reports that seven core positions dropped an average of 18.3% since September 8, while CoreWeave suffered a steeper decline of 37.4%. These new losses compound an earlier collapse and margin call wipeout involving $20 billion. Meanwhile, the wider artificial intelligence sector experienced a brief technical recovery on Monday, October 19, when the Philadelphia Semiconductor Index halted an eight-day losing streak.

   Why it matters

   The fund previously suffered a massive $20 billion collapse and margin call wipeout before attempting to rebuild its position via options in September. Its heavy exposure to specialized AI equities leaves it vulnerable to market volatility. The broader semiconductor sector showed signs of temporary stabilization on Monday, October 19, breaking a prolonged losing streak.

   What is confirmed

   • Situational Awareness is an artificial intelligence-focused fund managed by Leopold Aschenbrenner.
   • The fund purchased hundreds of millions of dollars in options on artificial intelligence stocks.
   • Seven core positions dropped an average of 18.3% since September 8.
   • CoreWeave suffered a steeper decline of 37.4% over the same period.

   What to watch next

   • Further updates from Coin Bureau regarding the performance of Situational Awareness option holdings.
   • Broader sector performance for the Philadelphia Semiconductor Index following its October 19 technical rally.
   Sources used for this update (3)

   1. help.naver.com — Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide | ZeroHedge
   2. seekingalpha.com — Patient Capital Management Q3 2026 Commentary
   3. www.gate.com — Leopold's Situational Awareness Fund Sees 7 AI Stocks Fall 18 ...
   confidence 90%
4. 11d ago

   Aschenbrenner Fund Faces 18.3% Drop on AI Options Reentry

   Leopold Aschenbrenner's fund Situational Awareness is facing fresh drawdowns following a September reentry into artificial intelligence stocks through options. Coin Bureau reports that seven core positions dropped an average of 18.3% since September 8. CoreWeave suffered a steeper decline, dropping 37.4%. The new losses arrive as the fund attempts to recover from a previous $20 billion collapse and margin call wipeout. Meanwhile, the broader artificial intelligence sector experienced a technical rally on Monday, October 19, when the Philadelphia Semiconductor Index ended an eight-day losing streak.

   Why it matters

   The fund previously suffered a catastrophic wipeout due to margin calls before attempting to rebuild leverage through options. This aggressive reentry tests whether Aschenbrenner can leverage deep industry connections to recover from deep financial damage. Compliance hurdles surrounding a potential Anthropic IPO add further friction to the fund's rebuilding strategy.

   What is confirmed

   • Leopold Aschenbrenner's fund Situational Awareness redeployed into AI-related stocks after being forced to unwind positions.
   • Seven core AI stock positions in the fund averaged down 18.3% since September 8.

   Still unconfirmed

   • Six of seven bets fell, averaging an 18.3% decline, with CoreWeave down 37.4%.

   What to watch next

   • Further performance reports on the fund's seven core options positions
   • Developments regarding a potential Anthropic IPO and associated compliance hurdles
   • Movements in the Philadelphia Semiconductor Index following the October 19 rally
   Sources used for this update (4)

   1. www.gate.com — AI Fund Situational Awareness Sees 7 Key Positions Down 18.3% ...
   2. phemex.com — Leopold Fund Hit as AI Stocks Tumble After September Bet ...
   3. panews.io — "AI stock god" Leopold's fund re-entered AI stocks in early ...
   4. www.kucoin.com — AI sector experiences technical rally following leverage unwinding
   confidence 90%
5. 13d ago

   Situational Awareness pivots to options after $20 billion fund collapse

   Leopold Aschenbrenner is utilizing options to regain leverage after his $20 billion hedge fund, Situational Awareness LP, collapsed. The former OpenAI researcher previously faced a total wipeout due to margin calls. While the fund has recently pursued high-risk bets in AI infrastructure, it now faces new instability. Aschenbrenner's strategy relies on deep AI industry connections, though a potential Anthropic IPO may create compliance hurdles that threaten his investing edge. The fund's current status remains volatile as it attempts to recover from previous catastrophic losses.

   Why it matters

   Aschenbrenner launched the fund with $225 million in seed capital from Jane Street, Nat Friedman, and Stripe co-founders Patrick and John Collison. He based his investment thesis on the belief that artificial superintelligence would arrive faster than market expectations. The fund's collapse followed aggressive betting on AI stocks.

   What is confirmed

   • Leopold Aschenbrenner is a former OpenAI researcher.
   • Situational Awareness LP had a valuation of $20 billion before its collapse.
   • The fund received $225 million in seed funding from Jane Street, Nat Friedman, and Stripe co-founders Patrick and John Collison.
   • Aschenbrenner is now using options to add leverage to the fund.

   Still unconfirmed

   • The fund bet 56% of $45 billion on Micron and SanDisk.

   What to watch next

   • Confirmation of a potential Anthropic IPO
   • Official regulatory filings regarding Federal Reserve or Bank of England probes
   • Verification of the fund's current assets under management
   Sources used for this update (8)

   1. www.thetechedvocate.org — The Meteoric Rise and Catastrophic Fall of Leopold Aschenbrenner’s AI Empire
   2. www.cabotwealth.com — Situational Awareness Adds Leverage the Right Way
   3. blockchain.news — Leopold Aschenbrenner: Options Trade Returns 47%
   4. congress.net — ‘AI Stock God’ Fund Collapses After Betting 56% Of $45 ...
   5. www.businessinsider.com — How Anthropic's IPO could dull Leopold Aschenbrenner's investing edge
   6. finance.yahoo.com — How Anthropic's IPO could turn Leopold Aschenbrenner's best asset into his biggest risk
   7. www.kucoin.com — U.S. margin debt reaches record high, raising concerns among Wall Street analysts
   8. www.boerse-online.de — Drei Monate nach dem Notverkauf: Aschenbrenner-Fonds schon ...
   confidence 80%
6. 23d ago

   Leopold Aschenbrenner's Situational Awareness Rebounds

   Leopold Aschenbrenner's Situational Awareness fund, which faced a 67% loss on leveraged AI infrastructure positions, has resumed high-risk betting with new options positions in AMD, Broadcom, and Carvana. The fund is up 80% for 2026 and has increased its stake in Keel Infrastructure Corp. to nearly 20 million shares as of Q1 2026. It is currently under regulatory scrutiny from the Federal Reserve and Bank of England.

   Why it matters

   The fund's activities have drawn attention due to its significant volatility and regulatory scrutiny. The US hedge fund had been reported to be on the verge of collapse after a series of rapid share filings. Aschenbrenner's investment moves are closely watched due to his background as a former OpenAI researcher.

   What is confirmed

   • Situational Awareness LP's 13F holdings for Q2 2026 total $13.7B AUM.
   • Leopold Aschenbrenner's fund holds large positions in SNDK, MU, BE, TSM, NBIS.
   • The fund increased its stake in Keel Infrastructure Corp. to nearly 20 million shares as of Q1 2026.
   • Situational Awareness is under regulatory scrutiny from the Federal Reserve and Bank of England.
   • Leopold Aschenbrenner exited semiconductor put options and added $315M in calls on AMD, memory chips, and AI infrastructure.

   Still unconfirmed

   • Nine reports regarding shares of Taiyo Yuden were filed by Situational Awareness on August 12, 2026.

   What to watch next

   • Regulatory findings from the Federal Reserve and Bank of England probes
   • Q3 2026 13F holdings for Situational Awareness LP
   • Performance update for the fund in 2026
   Sources used for this update (4)

   1. note.com — The 5% Rule That Isn't Followed: The US AI Fund That Hid Its ...
   2. phemex.com — Leopold Aschenbrenner Exits Chip Hedges, Adds $315M ... - Phemex
   3. quantabundance.com — Situational Awareness LP 13F Holdings Q2 2026 · QuantAbundance
   4. www.kucoin.com — AI Investor Leopold Aschenbrenner Increases Long ... - KuCoin
   confidence 90%
7. 25d ago

   Aschenbrenner Deploys New AI Options Amid Regulatory Probes

   Leopold Aschenbrenner has resumed high-risk betting with new options positions in AMD, Broadcom, and Carvana following a 67 percent loss on leveraged AI infrastructure positions. Despite the recent plunge, the Situational Awareness fund remains up 80 percent for 2026. The fund is currently under regulatory scrutiny, with the Federal Reserve and Bank of England probing bank exposure to Jane Street following the fund's volatility. Aschenbrenner has also increased his stake in Keel Infrastructure Corp. to nearly 20 million shares as of Q1 2026.

   Why it matters

   Aschenbrenner founded Situational Awareness in late 2024 with backing from Sequoia and family offices. The fund's rapid growth to 45 billion dollars and subsequent volatility have drawn attention to its lack of a risk team. This volatility triggered a massive sell-off by Citadel, which liquidated over 4 billion dollars in positions.

   What is confirmed

   • The Situational Awareness fund experienced a 67 percent loss on leveraged AI infrastructure positions.
   • The Federal Reserve and Bank of England are probing bank exposure to Jane Street following the fund's meltdown.
   • Situational Awareness LP increased its holding of Keel Infrastructure Corp. from 7 million shares in Q4 2025 to nearly 20 million shares in Q1 2026.
   • Citadel sold over 80 percent of acquired positions via nearly 100 block trades valued at over 4 billion dollars.

   Still unconfirmed

   • Aschenbrenner placed a fresh 400 million dollar private bet days after the fund's 67 percent loss.
   • The fund opened 8.4 billion dollars in notional semiconductor put positions in Q1 2026.
   • The fund had no risk team according to New York Times sources.

   What to watch next

   • Results of the Federal Reserve and Bank of England inquiries into bank exposure
   • Disclosure of the identity behind the 96 million dollar call options play
   • Further 13F filings showing changes in Keel Infrastructure Corp. holdings
   Sources used for this update (10)

   1. economiccollapse.report — Regulators Find Their Situational Awareness: Fed, BoE Probe ...
   2. chipmonk.tech — Aschenbrenner Q1 2026 | ChipMonk
   3. www.pops4.com — Aschenbrenner's Situational Awareness fund deploys options on ...
   4. celebratenaija.com — Leopold Aschenbrenner Is Buying This Stock – Celebrate Naija
   5. aiweekly.co — NYT: AI Hedge Fund Situational Awareness Had No Risk Team ...
   6. theuntamedtruth.com — Leopold Aschenbrenner Returns to High‑Risk AI Betting After ...
   7. www.gulf-times.com — tag - Gulf Times
   8. gmteight.com — GMT EIGHT - Latest - Report: Situational Awareness makes a ...
   9. one2mind.com — Situational Awareness Fund Lost 67%, Still Up 80% for 2026
   10. economictimes.indiatimes.com — leopold aschenbrenner: Latest News & Videos, Photos about ...
   confidence 90%
8. 42d ago

   Leopold Aschenbrenner returns to AI options after $45 billion fund collapse

   Leopold Aschenbrenner is resuming high-stakes AI stock options trading following the rapid collapse of a hedge fund he grew to $45 billion. While previous bets on CoreWeave and AMD resulted in losses, Aschenbrenner is again targeting AI markets. Market participants are currently tracking a massive new options play involving $96 million in call options expiring in two weeks, which some traders believe belongs to Aschenbrenner's Situational Awareness fund.

   Why it matters

   The Bank for International Settlements previously used Aschenbrenner's July financial crisis as a case study on how leverage can create systemic stress. This pattern of rapid growth followed by severe volatility makes his current trading activity a point of focus for Wall Street.

   What is confirmed

   • Leopold Aschenbrenner managed a hedge fund that reached $45 billion before collapsing within days.

   Still unconfirmed

   • Leopold Aschenbrenner spent $96 million on AI stock call options expiring in two weeks.

   What to watch next

   • Confirmation of the $96 million options trade ownership
   • Performance of the two-week call options
   • Further regulatory commentary from the Bank for International Settlements
   Sources used for this update (2)

   1. 247wallst.com — “He’s Back, He’s Bigger Than Ever”: 24-Year-Old Who Blew Up $45 Billion Hedge Fund Is Back With Options Bet On AI Stocks
   2. protos.com — Traders think Leopold Aschenbrenner just bet $96M on AI options
   confidence 70%
9. 45d ago

   Situational Awareness suffers new losses on AMD and CoreWeave options

   Leopold Aschenbrenner is losing money again on AI stock options after returning to the trade following a brutal July reversal. The Situational Awareness fund placed new bets on AMD and CoreWeave that have since soured. This latest decline follows a period of severe financial damage that nearly collapsed the fund. The Bank for International Settlements has cited the fund's July near-meltdown as a warning on how hedge fund leverage can turn routine market moves into systemic stress when liquidity evaporates.

   Why it matters

   Aschenbrenner is a former OpenAI researcher who manages the Situational Awareness hedge fund. The fund previously suffered a thirty-five billion dollar wipeout in July. These recurring losses highlight the volatility of high-leverage bets in the artificial intelligence sector.

   What is confirmed

   • Leopold Aschenbrenner returned to trading AI stocks after a reversal in July.
   • Situational Awareness experienced a near-collapse in July.

   Still unconfirmed

   • The fund suffered new losses specifically from AMD and CoreWeave options bets.

   What to watch next

   • Further disclosures on the total remaining capital of Situational Awareness
   • Official statements from the Bank for International Settlements regarding hedge fund leverage risks
   Sources used for this update (5)

   1. thecurrencyanalytics.com — Situational Awareness Fund Faces New Losses After AI Stock Options Crash
   2. cryptonews.net — Leopold Aschenbrenner is back to losing money in AI stocks
   3. www.briefs.co — BIS Flags Near-Collapse of Situational Awareness as Warning on Leverage
   4. www.briefs.co — BofA flags flat trading, softer deal fees; shares sink on outlook
   5. finance.yahoo.com — Hedge Fund That Nearly Collapsed Bets Big on AMD Again
   confidence 90%
10. 48d ago

    Situational Awareness Buys Options After Wipeout

    Leopold Aschenbrenner and his fund, Situational Awareness, are active in the options market following a massive market collapse. The former OpenAI researcher is placing new bets on artificial intelligence stocks after suffering a colossal wipeout totaling thirty-five billion dollars. The fund's trading activity comes immediately after severe financial damage and the loss of critical financial backing. Sources close to the situation reveal that the young hedge fund manager is continuing his market engagement despite sustaining multi-billion-dollar losses in the artificial intelligence sector.

    Why it matters

    The fund managed by the twenty-four-year-old researcher ran into severe distress after suffering catastrophic losses linked to artificial intelligence investments. The fallout intensified when JPMorgan severed its prime brokerage lending relationship with the fund. This withdrawal of prime broker lending severely impacts the operational capabilities and leverage available to the distressed artificial intelligence hedge fund.

    What is confirmed

    • Leopold Aschenbrenner's Situational Awareness is active in the options market.
    • JPMorgan cut off Situational Awareness lending after AI losses.
    • The former OpenAI researcher experienced a thirty-five billion dollar wipeout.

    What to watch next

    • Further disclosures regarding the exact scale of option positions held by Situational Awareness
    • Additional prime brokerage or lending announcements from major financial institutions regarding the fund
    Sources used for this update (6)

    1. Financial Times — JPMorgan cut off Situational Awareness lending after AI losses
    2. CNBC — Leopold Aschenbrenner's Situational Awareness is active in options market, sources say
    3. The Atlantic — The 24-Year-Old Who Lost Billions
    4. Yahoo Finance — Former OpenAI Researcher Bets on AI Stocks After $35 Billion Wipeout
    5. Yahoo Finance — Leopold Aschenbrenner's Situational Awareness buying options after collapse
    6. www.top1markets.com — JPMorgan Cut Off Situational Awareness: What Losing a Prime Broker Does to an AI Hedge Fund
    confidence 90%