Aschenbrenner's $20B AI Hedge Fund Seeks Fresh Capital After 2026 AI Sell-Off

Situational Awareness LP, the AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, is seeking additional capital from existing investors after a broad AI market sell-off compressed valuations across the AI infrastructure stack in the first half of 2026. The fund manages roughly $20 billion in assets. Terms and timeline of the raise remain undisclosed.