Citadel Acquires ~$16B AI Stock Portfolio After Situational Awareness Margin Calls

Citadel bought roughly $16 billion in equities from Situational Awareness, the AI-focused hedge fund founded by ex-OpenAI researcher Leopold Aschenbrenner. The fund grew from $225 million at its 2024 launch to a $20 billion peak, returning 439% in H1 2026 before leveraged AI bets triggered margin calls — forced sales when borrowed money amplifies losses beyond collateral — and liquidations in July 2026.