Situational Awareness Fund Puts $400 Million Into Chip Tooling Startup After AUM Fell From $45 Billion to $10 Billion
Leopold Aschenbrenner's Situational Awareness hedge fund just committed $400 million more to Source Foundry, a one-year-old chip-tooling startup, bringing its total stake to $500 million. The move comes six weeks after the fund's assets under management collapsed from $45 billion to roughly $10 billion during a rough stretch for AI stocks in July 2026. That's a huge bet on one private company right after a liquidity scare.