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JPMorgan curbed lending to Situational Awareness after AI losses, source says (www.reuters.com)
submitted 2 months ago by to c/technology@piefed.social
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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

Run roh Raggy.... Looks like the world needs to suffer because billionaires gambled again

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    [–] 2 points 2 months ago

    OK, bot

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    1 comment in c/technology@beehaw.org view that post
    [–] 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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    1 comment in c/technology@lemmy.world view that post
    [+] -6 points 2 months ago

    a source familiar with the matter told Reuters

    Reuters are NOT an unbiased news outlet. They are the information outlet of the UK Oligarchy/elite, and they almost always use these wishywashy 'sources' when they are paid to lie/influence societal opinions on behalf of their rich-man club.

    Not saying this couldn't have some truth (propaganda often have a small seed of truth), but JPMorgan Chase and Leopold are in the same pro-Epstein/pro-Empire club and the Leopold kid's losses doesn't matter - at all..

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