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The Situational Awareness fiasco has triggered an avalanche of memes

Business Insider
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Situational Awareness hedge fund, led by Leopold Aschenbrenner, gained 439% in early 2026 by betting on AI stocks but lost about 67% in July after a market downturn, sparking widespread memes. The firm's leveraged AI stock bets led to margin calls amid the sell-off, attracting attention from Wall Street figures like Citadel CEO Ken Griffin.

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