FTSE 100 on track for best month since first US attacks on Iran five months ago – business live

A German-born AI trader who made waves at OpenAI and the FTX Future Fund has lost big. Per The Guardian, Leopold Aschenbrenner's hedge fund saw its assets crash from forty-five billion dollars to about ten billion dollars in less than a month, forcing him to sell off the firm in a fire sale. The twenty-four-year-old, who launched Situational Awareness with no previous investment experience, had piled the money into debt-fueled bets on artificial intelligence companies—a strategy that had generated huge returns until market conditions reversed. Ken Griffin's Citadel hedge fund acquired the fund at a discount within twenty-four hours of entering the picture, capping a stunning reversal for a trader the financial press had dubbed the Nostradamus of AI.

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