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(Bloomberg) — Ken Griffin’s Citadel bought a big chunk of the artificial-intelligence stocks held by Situational Awareness, the hedge fund led by former OpenAI researcher Leopold Aschenbrenner.
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Aschenbrenner’s fund has been liquidating public equities after losses in an AI stock rout in recent weeks, according to people familiar with the matter. Situational Awareness hasn’t liquidated all of its public stocks and still has private stakes including in Anthropic PBC, said one of the people, who asked not to be identified discussing confidential talks.
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Representatives for Citadel and Situational Awareness declined to comment on the sale. The Wall Street Journal reported on the purchase earlier.
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Millennium Management and Jane Street Group were among firms that weighed buying the stocks but ultimately didn’t participate, other people said.
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AI stocks have been getting hit in recent weeks as questions mount about whether high valuations can be sustained. The tech-heavy Nasdaq 100 has begun to rebound after tumbling from its June 2 peak.
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Situational Awareness has been an investor in companies tied to the AI boom, including Bloom Energy Corp., semiconductor maker Sandisk Corp. and cloud service provider CoreWeave Inc. His investment firm also helped lead a funding round for MatX, an AI chip startup founded by two alumni of Google’s semiconductor business.
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Aschenbrenner’s fund also invested in SK Hynix Inc., which debuted on a US exchange earlier this month. But its American depositary receipts have slumped since then and are still trading below the $149 listing price.
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—With assistance from Todd Gillespie, Katherine Doherty and Nishant Kumar.
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(Updates with details on Situational Awareness’ investments starting in the sixth paragraph.)
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English (US)