Tech bro’s AI fund collapses days before lavish – Business News
A 24-year-old Silicon Valley AI prodigy watched his $45 billion hedge fund implode simply days before strolling down the aisle for his lavish California wedding ceremony.
Leopold Aschenbrenner, the founder of the AI-focused hedge fund Situational Awareness, was placing the ending touches on his wedding ceremony in Carmel this week when his high-flying investment empire started to unravel after reportedly borrowing closely to make large AI bets.
The German-born investor, and turtleneck fanatic, amassed a staggering $45 billion portfolio by piling into AI shares and taking a enormous personal stake in Anthropic.
Leopold Aschenbrenner, 24, is the founder of the AI-focused hedge fund Situational Awareness. Columbia College
Aschenbrenner was placing the ultimate touches on his wedding ceremony this week in Carmel-by-the-Sea, California. Getty Images
As his portfolio tumbled, Aschenbrenner scrambled to stop the bleeding, interesting to some of the world’s largest hedge funds and promoting billions of {dollars} in holdings to Ken Griffin’s Citadel, based on The Wall Street Journal.
In a letter to traders Thursday, Aschenbrenner mentioned he had offered half of his public stock portfolio and vowed to concentrate on risk management “to ensure a higher level of resilience going forward.”
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The German-born AI wonderkid noticed his $45 billion portfolio collapsing simply days before his marriage. Linkedin/Leopold Aschenbrenner
Despite the dramatic selloff, his firm nonetheless manages a portfolio valued at more than $10 billion.
Aschenbrenner’s meteoric rise has been almost as exceptional as his current fall.
He graduated from Columbia University at simply 19 before working at Sam Bankman-Fried’s FTX. He later joined OpenAI in 2023, the place he was half of a staff tasked with overseeing synthetic superintelligence.
He was fired roughly a 12 months later after allegedly leaking delicate data to the husband of an Anthropic govt.
The setback did little to gradual his rise in Silicon Valley.
Avital Balwit is now married to Aschenbrenner. X/@AvitalBalwit
Aschenbrenner turned an AI superstar after publishing a 165-page essay, “Situational Awareness: The Decade Ahead,” which earned reward from figures together with Ivanka Trump and helped appeal to deep-pocketed traders to his firm.
Situational Awareness focuses on investments tied to synthetic common intelligence and has been backed by tech heavyweights together with Stripe co-founders Patrick and John Collison, Nat Friedman and Daniel Gross.
Dubbed the “Nostradamus of AI,” Aschenbrenner met his fiancée Avital Balwit whereas the pair labored at FTX. She now serves as chief of employees to Anthropic’s CEO.
Now, as a substitute of celebrating one of the most important weeks of his life solely as a newlywed, the AI wunderkind can be making an attempt to rebuild one of probably the most spectacular hedge fund collapses in current reminiscence.
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