JPMorgan Chase (JPM.N) cut off lending activity for Leopold Aschenbrenner's hedge fund Situational Awareness after large losses tied to his AI bets led to a near-collapse, ‌a source familiar with the matter told Reuters on Friday.

The AI-focused hedge fund liquidated most of its public equity holdings to Citadel after a global chip-stock rout exposed its leveraged bets to steep losses.

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[–] 6 points 2 months ago

Wait... you're saying I shouldn't put my money decisions in the hands of AI? Who knew?

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