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Key Financial Moves by Leopold Aschenbrenner’s Situational Awareness Fund
Leopold Aschenbrenner’s hedge fund, Situational Awareness, took significant positions in the third quarter of 2023, notably going short on major AI companies Nvidia, Broadcom, and Taiwan Semiconductor Manufacturing (TSMC). The notional value of the put options on Nvidia represented 6.95% of the fund’s portfolio, while Broadcom and TSMC saw puts at 1.77% and 1.76%, respectively.
Conversely, the fund maintained a long position in Intel, represented by call options accounting for 16.41% of its portfolio. This strategy diverges from the broader market sentiment, suggesting a belief in a turnaround for Intel, particularly following the introduction of Intel’s new 18A node technology, which could challenge TSMC’s dominance in semiconductor manufacturing.
Aschenbrenner, a former OpenAI researcher, is recognized for his previous bullish stance on AI advancements, yet his current trading activity reflects a more cautious approach amidst the ongoing volatility in the tech sector.
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