Situational Awareness Fund Bets Big on AMD Options After Near-Collapse

Price ActionDigital Finance
โดย GuruFocus·US·Read original
Summary · why it matters

Situational Awareness, the hedge fund formed by ex-OpenAI researcher Leopold Aschenbrenner, is buying call options on Advanced Micro Devices, Bloom Energy, CoreWeave, SK Hynix and SanDisk, returning to the strategy that nearly sank it earlier this year. The fund has bought hundreds of millions of dollars in option premiums, according to GuruFocus. Situational Awareness generated a 439% net return from the beginning of the year through June 30, briefly making it one of the best-performing large funds of 2026, but it was operating at around four times leverage when AI stocks turned in July, and its portfolio declined by about 67 percent, forcing it to sell off its AI assets. Citadel swooped in a day later to buy much of the public-equity holdings. The new stock picks span processors, cloud computing, memory and electricity, some of the main bottlenecks in the AI buildout.

Impact on stocks 6

Artificial Intelligence▲ · 3 stocks
Advanced Micro Devices Inc
AMD
▲ PositiveCapitalrelevance

Situational Awareness is buying hundreds of millions in AMD call options, signaling bullish positioning on the stock.

Semiconductors▲ · 2 stocks
SK Hynix Inc
000660
▲ PositiveCapitalrelevance

SK Hynix is included in the fund's new call-option purchases spanning AI memory bottlenecks.

Sandisk Corp
SNDK
▲ PositiveCapitalrelevance

SanDisk is one of the fund's new call-option targets in the memory segment of the AI buildout.

Energy Transition & Power Demand▲ · 1 stocks
Bloom Energy Corp
BE
▲ PositiveCapitalrelevance

The fund is buying call options on Bloom Energy as part of its AI-bottleneck electricity bet.

Off-coverage companies 2

CitadelPrivate± Mixed
relevance

OpenAIPrivate± Mixed
relevance

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