Hedge fund Situational Awareness lost 67% in July on AI bets

Leopold Aschenbrenner's hedge fund Situational Awareness lost 67% of portfolio value in July 2026 on AI stocks, Reuters reported, citing an investor letter. The plunge followed a US$1.6 billion SharonAI deal the fund anchored in June. On August 12, it disclosed an 11.62% stake in Japan's Taiyo Yuden.