Jane Street’s July meltdown wipes out $15bn amid AI bets
Jane Street disclosed about a $15 billion July loss linked to the meltdown at AI-focused hedge fund Situational Awareness, revealed as it refinanced roughly $11 billion of public debt with private lenders including Pimco. The hit, though offset by previously strong trading results, will count toward the third quarter and underscores the risk of AI-driven trades that can ripple through investors and counterparties.
