Former OpenAI researcher Leopold Aschenbrenner’s hedge fund, Situational Awareness LP, has rapidly built a $5.52 billion U.S. equity portfolio concentrated on AI infrastructure. The fund’s latest SEC filing reveals major bets on power and data center companies, including a significant stake in Bitcoin miner Core Scientific as it pivots to AI hosting. This strategy reflects a broader industry shift where miners are repurposing energy assets for the compute economy.
Leopold Aschenbrenner’s hedge fund, Situational Awareness LP, reported $5.52 billion in U.S. equity positions in its latest 13F filing with the Securities and Exchange Commission. The portfolio is heavily concentrated on companies supplying power and infrastructure for artificial intelligence.
The fund’s holdings include GPU cloud provider CoreWeave, power specialist Bloom Energy, and Bitcoin miner Core Scientific. Aschenbrenner first gained attention after publishing a widely read “Situational Awareness” manifesto on the race to advanced AI.
His San Francisco-based fund now manages more than $1.5 billion from tech founders and institutions. The fund’s reported U.S. equity portfolio grew from about $254 million in Q4 2024 to over $5.5 billion by Q4 2025.
Over that period, it built sizable positions in Bitcoin miners and related energy firms like IREN, Cipher Mining, and Riot Platforms. This bet aligns with a broader shift where large miners repurpose power-rich sites as AI hosting hubs after the latest halving squeezed block rewards.
Core Scientific has signed long-term hosting contracts with AI cloud firm CoreWeave. Situational Awareness disclosed a 9.4% stake in Core Scientific via an amended Schedule 13D, representing 28,756,478 shares.
Concurrently, the fund holds a short position in Indian IT giant Infosys. This wagers that AI tools will pressure the traditional outsourced software services model.
