Leopold Aschenbrenner, a former OpenAI researcher, has invested $400 million in a private company backed by Sequoia Capital. The investment comes as his hedge fund, Situational Awareness LP, saw its assets under management plummet from $45 billion to $10 billion in just one month, a decline of roughly 78 percent. The fund faced margin calls and a broad sell-off in AI infrastructure stocks, forcing it to liquidate the majority of its public equity holdings. The $400 million check represents a 4 percent concentration bet relative to the fund’s current size of $10 billion.
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