Leopold Aschenbrenner's AI hedge fund Situational Awareness rose fast — then collapsed

Leopold Aschenbrenner, a 24-year-old former OpenAI employee, launched an AI-focused hedge fund called Situational Awareness that quickly exploded onto the financial scene. Despite initial buzz, the fund soon nose-dived and effectively collapsed. Its brief rise and fall has become emblematic of the speculative volatility surrounding artificial intelligence investments.