Situational Awareness LP, an AI-focused investment fund founded by 25-year-old Leopold Aschenbrenner, has reported significant losses following a downturn in the U.S. stock market's storage and semiconductor sectors. According to Q4 2025 filings, the fund's holdings saw widespread declines, with Intel dropping 6.82%, Sandisk Corp 6.17%, and CoreWeave 6.06%. Only IREN managed a gain, rising 2.56%. Aschenbrenner, a former FTX Future Fund employee and OpenAI researcher, established the fund in 2024 after publishing a viral paper on AGI prospects. The fund, which focuses on AI infrastructure, expanded its holdings from $2.25 billion in Q4 2024 to $55.2 billion in Q4 2025, becoming a prominent AI-themed fund on Wall Street.