According to a person who has read the hedge fund's letter to investors on Thursday, Situational Awareness, a hedge fund company led by Leopold Ashenbrenner, has suffered huge losses due to betting on artificial intelligence stocks, and has declined by about 67% since July. The media learned about the contents of this investor letter. Ashen Brenner wrote in the letter: “We have disappointed everyone's expectations this month.” The huge losses forced the agency to quickly cash out the funds raised to repay the lender's additional security deposit notice and sell off the vast majority of its shares to Castle Investments. The letter mentioned that the fund had very good earnings in the early period of this year. Even after taking into account losses in July, the overall increase during the year was about 80%.

According to a person who has read the hedge fund's letter to investors on Thursday, Situational Awareness, a hedge fund company led by Leopold Ashenbrenner, has suffered huge losses due to betting on artificial intelligence stocks, and has declined by about 67% since July. The media learned about the contents of this investor letter. Ashen Brenner wrote in the letter: “We have disappointed everyone's expectations this month.” The huge losses forced the agency to quickly cash out the funds raised to repay the lender's additional security deposit notice and sell off the vast majority of its shares to Castle Investments. The letter mentioned that the fund had very good earnings in the early period of this year. Even after taking into account losses in July, the overall increase during the year was about 80%.