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AI Hedge Fund Situational Awareness Invests $400M in Chip Startup Source Foundry

AI-focused hedge fund Situational Awareness invests $400M in chip startup Source Foundry, bringing total to $500M, despite recent portfolio losses.

AI News Feed · 2026-08-14 20:42

Source Foundry aims to make chip manufacturing faster and cheaper. The startup was founded by researchers from Stanford University, though further details about its technology were not disclosed in the report.

Situational Awareness was founded by Leopold Aschenbrenner, a former OpenAI researcher in his mid-twenties who had no prior trading experience when he launched the fund in 2024. Early returns were reportedly strong, but the fund has faced steep losses in recent months amid a decline in AI infrastructure stocks.

At the end of July, Situational Awareness sold off the majority of its public portfolio to Ken Griffin's Citadel, although it held on to its shares in Anthropic. Its assets under management reportedly fell from $20 billion to $10 billion.

Aschenbrenner reportedly did not let those setbacks interfere with his wedding, which took place around the same time.