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

Situational Awareness LP, a $20 billion AI-focused hedge fund founded by ex-OpenAI researcher Leopold Aschenbrenner, is raising fresh money from existing investors. A broad AI sell-off in early 2026 squeezed valuations across the AI infrastructure stack — the companies building chips, data centers, and software powering AI. Terms and timeline remain undisclosed.