Situational Awareness, star AI hedge fund that nearly imploded, now being probed by the SEC

Situational Awareness, an AI-focused hedge fund led by former OpenAI employee Leopold Aschenbrenner, saw billions of dollars wiped out after a late-July slump in AI stocks. The SEC has subpoenaed banks that supervised the fund’s trading and provided its financing, ordering them to preserve related information. The firm denied any wrongdoing and said it will fully cooperate with regulators.