Situational Awareness eyes a comeback with fresh option bets on AI-related stocks
Leopold Aschenbrenner’s Situational Awareness has been buying new option positions in AMD, Bloom Energy, CoreWeave, SK Hynix, and Sandisk, plus the Roundhill Memory ETF, signaling a comeback bet after a summer when the fund almost failed from AI-stock leverage and margin calls that forced asset sales to Citadel. The 13F showed Sandisk and Micron as large disclosed holdings, and regulators including the SEC have subpoenaed major banks over dealings with the fund, though no wrongdoing is alleged. The firm remains active, including a $400 million private investment after the near-collapse.
