Ken Griffin’s Citadel has acquired the majority of the public equity portfolio held by AI-focused hedge fund Situational Awareness, following a sharp reversal in technology stocks that forced the specialist manager to significantly reduce risk, according to a report by Reuters.
The transaction comes after Situational Awareness, founded by former OpenAI researcher Leopold Aschenbrenner, suffered steep losses during July as AI-related stocks sold off, prompting the firm to unwind much of its lever...
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