SEC AI hedge fund collapse investigation
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SEC subpoenas Wall Street banks over AI hedge fund near collapse
Situational Awareness said it would cooperate fully with any regulatory request.
Situational Awareness's assets fell from about $45 billion to around $10 billion in late July after being hit in a tech sell-off.
Situational Awareness was led by former OpenAI researcher Leopold Aschenbrenner.
SEC probes AI hedge fund Situational Awareness
The New York Times reports that the SEC has been subpoenaing banks that did business with Situational Awareness.
The subpoenas focus on banks that supervised the fund's trading and that channeled funding to support it.
Situational Awareness is an AI-focused hedge fund.
AI hedge fund Situational Awareness reported to have sold public portfolio, retains Anthropic shares
Situational Awareness is a hedge fund formed by former OpenAI researcher Leopold Aschenbrenner.
Aschenbrenner invited clients to commit fresh capital starting August 1.
Situational Awareness continues to hold a stake in Anthropic valued at $5 billion according to Bloomberg.