How sell-off at flashy AI-focused US hedge fund is a wake-up call for Chinese investors

Chinese tech investors are hearing warning bells after volatility in US tech stocks forced a fast-rising Wall Street hedge fund to clear its stock portfolio at a steep discount within a few days. “Don’t use leverage! Don’t use leverage! Don’t use leverage!” Shanghai-based public-markets analyst Harry Shen repeated to t

Situational Awareness, an AI-focused hedge fund founded by a former OpenAI researcher, has sold all of its public equities portfolio to Ken Griffin's Citadel, a source tells Axios. Why it matters: This comes amidst a recent sell-off in AI stocks, particularly chipmakers. News of a sale was first reported by the WSJ.

Scale of losses in recent weeks sparks growing risk aversion on Wall Street