2 hours ago
1
Erica Kollmann
Thu, April 16, 2026 astatine 12:31 PM CDT 2 min read
Leopold Aschenbrenner just pulled disconnected 1 of the wildest trades of the AI roar by betting connected electricity, not algorithms.
The 24-year-old erstwhile OpenAI information researcher was fto spell successful 2024. He past published a 165-page effort arguing that AGI was coming acold faster than investors realized and the existent constraint would not beryllium models oregon chips.
Aschenbrenner argued that the existent bottleneck would beryllium powerfulness and the winners of the AI contention would beryllium the players who power the vigor that feeds the models.
His thesis became Situational Awareness LP, a hedge money launched with astir $225 million.
Don't Miss:
-
Think Your ‘Safe' Stocks Protect You? You're Ignoring the Real Growth Triggers — Here's What to Add Now
-
Caught With Nothing Saved for Retirement? These 5 Game‑Changing Tips Could Still Save You
In aboriginal 2025, Aschenbrenner began gathering a presumption successful Bloom Energy Corp., a substance compartment institution that generates powerfulness straight astatine information centers and sidesteps the overloaded grid.
By the extremity of 2025, Bloom had shifted from a caller sanction successful his publication to his azygous biggest bet.
The fund's astir caller 4th fourth 2025 13F filing shows Bloom Energy arsenic the fund's largest holding, an astir $875 cardinal involvement that made up astir 10% of its equity portfolio.
The presumption reflected dependable accumulation done 2025 astatine prices successful the mid-teens per share. The marketplace past started to drawback up with his thesis.
See Also: Think you're redeeming capable for your kids? You mightiness beryllium dangerously disconnected — spot why
As investors woke up to the AI powerfulness crunch, Bloom Energy shares gained momentum.
On Tuesday, an expanded substance compartment woody with Oracle Corp. sent the banal sharply higher, closing astir 24% higher for a summation of much than 60% successful the past week.
The once‑$875 cardinal presumption present sits astatine astir $2.21 cardinal and has go the centerpiece of Situational Awareness' returns.
The fund's different large positions echo the aforesaid electricity‑first logic with hundreds of millions successful CoreWeave Inc. and a important involvement successful Core Scientific.
Aschenbrenner has grown the money from $225 cardinal to astir $5.5 cardinal dollars successful astir a year, according to SEC filings.
Most of Wall Street piled into exemplary developers and chipmakers. Aschenbrenner focused connected megawatts instead. So far, that telephone is paying disconnected successful spectacular fashion.
Read Next:
-
Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast
-
These Rare Earth ETFs Are Drawing Major Investors — Here's What to Understand
Photo: Shutterstock
Up Next: Transform your trading with Benzinga Edge's one-of-a-kind marketplace commercialized ideas and tools. Click present to entree unsocial insights that tin acceptable you up successful today's competitory market.
English (CA) · 
English (US) · 
Spanish (MX) ·