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Situational Awareness, led by a 24-year-old, exploded onto the artificial intelligence scene — and then nose-dived.
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Microsoft earnings provided optimism for the AI trade, as did the trading activity surrounding a hedge fund's fire sale.
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Investors say the hedge fund deal reassured jittery traders in tech stocks
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Leopold Aschenbrenner, a former OpenAI researcher-turned-hedge fund manager, saw a dramatic decline this week in his AI-focused fund, Situational Awareness.
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There are more similarities between the two hedge-fund blowups than one might expect.
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Scale of losses in recent weeks sparks growing risk aversion on Wall Street
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