AI Hedge Fund Puts $400 Million Into One Stealth Chip Startup After Public-Market Exit

After selling its public stock portfolio to Citadel following deep AI losses, Situational Awareness committed $400 million to Source Foundry, a private company aiming to reinvent chip manufacturing. The startup has disclosed no technology, product roadmap, or commercial timeline. The fund retained its Anthropic shares through the Citadel sale. The Wall Street Journal reported the deal on August 7, 2026.