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Leopold Aschenbrenner AI hedge fund collapse
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Leopold Aschenbrenner's AI hedge fund Situational Awareness, which grew to $45 billion, collapsed within days in late July 2026. Citadel's acquisition of the fund helped stabilize broader AI market losses estimated at $3 trillion.
- Aschenbrenner, 24, founded Situational Awareness and rapidly scaled it to $45B in assets
- Fund lost most of its value in days, with collapse occurring around late July 2026
- Citadel acquired Situational Awareness to help stem the broader $3 trillion AI market rout
- Meltdown coincided with Aschenbrenner's wedding, with guests arriving as fund imploded
- Investor confidence in tech stocks was shaken before Citadel's stabilizing intervention