Leopold Aschenbrenner's Situational Awareness Fund Buys Options in AMD, Coreweave
The AI-focused fund is actively trading options in several high-profile tech stocks, sources tell CNBC.
Leopold Aschenbrenner's hedge fund Situational Awareness is actively building options positions in a cluster of prominent technology and energy stocks, sources familiar with the trades told CNBC's David Faber. The fund has taken positions in Advanced Micro Devices, Bloom Energy, and Coreweave, signaling a concentrated bet on companies tied to artificial intelligence infrastructure and power generation.
The move puts Situational Awareness squarely in the spotlight at a moment when Wall Street is intensely focused on which firms stand to benefit most from the AI buildout. AMD is a leading supplier of AI accelerator chips competing with Nvidia, while Coreweave has emerged as a major cloud provider purpose-built for GPU-intensive AI workloads. Bloom Energy, a fuel cell manufacturer, represents a play on the surging power demands that data centers require to run large AI models.
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Aschenbrenner, a former OpenAI researcher, launched Situational Awareness after publishing a widely circulated long-form essay arguing that artificial general intelligence could arrive within this decade — a thesis that appears to be informing his fund's portfolio construction. Options positions provide leveraged exposure to price moves in underlying stocks, amplifying potential gains but also risk.
The disclosure, relayed through sourcing to CNBC, underscores how former AI researchers are increasingly crossing into finance, bringing conviction-driven views on the technology's trajectory directly into the markets. Whether Situational Awareness holds long calls, puts, or more complex structures was not specified by sources.
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