AI Hedge Fund Reports 67% July Loss Amid Stock Rout

Situational Awareness, a hedge fund focused on artificial intelligence, experienced a 67% decline in its investments during July, according to a communication to investors. The firm acknowledged a significant shortfall, stating, “We let you down this month.”

In response to the downturn, the hedge fund sold the majority of its stock holdings to Citadel, a prominent financial institution. The note to investors further detailed the firm's decision to divest, indicating a strategic shift following the substantial losses.