Leopold Aschenbrenner's $45B fund shrinks to $10B after AI selloff
Leopold Aschenbrenner, a 25-year-old hedge fund manager known for big bets on AI, just watched his fund shrink from $45 billion to $10 billion in a single month.
The crash happened after a huge selloff of AI stocks like Nebius Group and SK Hynix, made worse by risky borrowing, up to 400% leverage, which triggered margin calls and forced major losses.
Aschenbrenner seeks investor funds, keeps Anthropic
Even after the loss, Aschenbrenner isn't giving up: he's asking current investors for more money and letting some buy assets directly.
As lenders demanded additional collateral, he sold most public stocks at a discount but held onto private investments like Anthropic.
In a letter to investors, he promised changes to avoid another meltdown and has already put $500 million into Source Foundry, showing he's still betting big on the future.