AI Hedge Fund Situational Awareness Lines Up Clear Street as New Prime Broker After Near-Collapse

Leopold Aschenbrenner's AI-focused hedge fund, Situational Awareness, has established a new prime brokerage relationship with Clear Street, according to people familiar with the matter, months after a leveraged bet on the artificial-intelligence supply chain nearly wiped the fund out. The move fills a gap left by JPMorgan, which ended its lending relationship with the fund after it suffered one of the largest dollar losses in hedge-fund history.