Citadel buys bulk of AI hedge fund portfolio after rout

Leopold Aschenbrenner's AI-focused hedge fund, Situational Awareness, sold most of its stock portfolio to Ken Griffin's Citadel after heavy losses from the AI stock rout. The deal, facilitated by top Wall Street prime brokers, unwinds most of the fund's $16 billion public portfolio. Situational will retain a $10 billion book including private investments like Anthropic.