Suddenly, things ain’t looking great for the AI industry. Or at least for the people pouring loads of money into it.
Situational Awareness, a much-hyped AI hedge-fund whose 24-year-old founder Leopold Aschenbrenner preached endless AI gains, basically imploded over this month amid a mass tech sell-off.
The Wall Street Journal reported that it’s now down 67 percent in July, forcing Aschenbrenner to desperately seek clients to buy its shares on the cheap to cover its losses.
“We let you down this month,” the fund wrote in a letter to clients, per the WSJ.
