AI hedge fund Situational Awareness may have sold its public portfolio, but it still has its Anthropic shares
TL;DR
The former OpenAI researcher’s fund was forced to unwind public equities after leveraged public bets plummeted. But he still has cards to play. The former OpenAI researcher’s fund was forced to unwind public equities after leveraged public bets plummeted. But he still has cards to play.
Nauti's Take
What makes this instructive is where the money survived: the leveraged public bets burned, while the illiquid Anthropic stake is what keeps the fund in the game. The risk sits in valuation, because a private stake is worth whatever the next funding round says and cannot be sold quickly.
For anyone seeking AI exposure, this shows cleanly that leverage and timing are more dangerous than the technology itself.
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