SEC investigating hedge fund founded by former OpenAI researcher after massive losses
The US Securities and Exchange Commission has issued subpoenas to financial institutions that worked with the hedge fund Situational Awareness, according to a Reuters report. The fund, started by former OpenAI researcher Leopold Aschenbrenner, initially recorded a 439% return during the first half of 2026 but later faced significant losses tied to AI infrastructure investments. Reports indicate the SEC is currently in contact with Bank of America, Citigroup, JPMorgan, and Goldman Sachs regarding the matter.
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