Key facts
- JPMorgan Chase has ended its lending relationship with hedge fund Situational Awareness.
- The hedge fund suffered substantial losses from its investments in artificial intelligence.
- Situational Awareness liquidated most of its public equity holdings after a chip-stock rout.
- The fund was founded by former OpenAI researcher Leopold Aschenbrenner.
JPMorgan Chase has ended its lending relationship with the hedge fund Situational Awareness, founded by former OpenAI researcher Leopold Aschenbrenner, due to substantial losses incurred from the fund's investments in artificial intelligence. The fund liquidated most of its public equity holdings after a rout in chip stocks led to a near-collapse.
The account rests on a single report and has not been independently corroborated.