Hedge Fund Situational Awareness Sells Stock Portfolio to Citadel After AI Losses
Situational Awareness, a hedge fund with a net asset value of $45 billion as of July 1st, has sold the bulk of its stock portfolio to Citadel following significant losses in AI investments, WSJ reports.
The hedge fund is now reportedly in "crisis mode." According to the Wall Street Journal, the sale of its stock portfolio comes after heavy losses tied to artificial intelligence positions.
As of July 1, the fund's net asset value stood at $45 billion. The move underscores the challenges facing some funds that bet heavily on AI amid volatile market conditions.
Source: The Kobeissi Letter