Situational Awareness Put $400M Into Stealth Chip Startup Days After Its AUM Halved

Situational Awareness, the AI hedge fund founded by ex-OpenAI researcher Leopold Aschenbrenner, invested $400 million in Source Foundry — a stealth chip-manufacturing startup by Stanford researchers — within days of selling most of its public portfolio to Citadel. The fund's AUM fell from $20 billion to $10 billion. The investment brought its total Source Foundry commitment to $500 million.