The investment marks a pivot for the AI-focused fund, which launched in 2024 under the leadership of Aschenbrenner, a former OpenAI researcher. While initial performance showed promise, the fund recently weathered significant volatility as AI infrastructure stocks slumped. By the end of July, the firm had sold most of its public holdings to Ken Griffin’s Citadel, though it notably retained its position in Anthropic.
Following these divestments, the fund’s assets under management reportedly contracted from $20 billion to $10 billion. Aschenbrenner, who entered the hedge fund space with no prior trading experience, has remained active in his private life despite the professional turbulence, reportedly marrying shortly after the portfolio restructuring.
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