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The Biggest Hedge Fund Blow-Up EXPLAINED
This week, Dana and Anthony pick apart the wildest financial story of the summer: a 24-year-old former OpenAI researcher who turned a single essay into a hedge fund worth tens of billions of dollars, then watched most of it disappear in about a month.
Leopold Aschenbrenner built Situational Awareness LP around his own AI thesis, and for a while it worked spectacularly. The fund reportedly grew to $45 billion and was up over 400% on the year. Then AI and semiconductor stocks turned, the leverage that made him rich started working the other direction, and margin calls forced him to dump nearly…
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