AI hedge fund Situational Awareness reports stake in IREN, Core Scientific

AI hedge money Situational Awareness LP September 30 disclosure revealed a $563 cardinal presumption successful CoreWeave (Nasdaq: CRWV), on with a $362 cardinal presumption successful Core Scientific (Nasdaq: CORZ) and a $338 cardinal presumption successful IREN (Nasdaq: IREN). IREN and Core Scientific were the firm’s largest Bitcoin mining positions, arsenic of September 30. All presumption nominal values are back-dated to September 30, the filing day with the SEC.

The steadfast exited its presumption successful Cipher Mining (CIFR), portion adding Bitcoin miners Hut 8 (Nasdaq: HUT), Riot (Nasdaq: RIOT), Bitfarms (Nasdaq: BITF), Galaxy Digital (Nasdaq: GLXY) and Bitdeer (Nasdaq: BTDR). Situational Awareness trimmed its presumption successful Applied Digital (Nasdaq: APLD).

Situational Awareness was founded by erstwhile OpenAI researcher Leopold Aschenbrenner, who near the institution successful April 2024.

The money besides added Lumentum, Coherent, Modine, Western Digital, and Seagate successful the AI proviso concatenation sector.

Situational Awareness expanded a telephone enactment presumption successful Intel. The money reported a $459 cardinal telephone presumption successful May. The presumption accrued to $678 cardinal successful the Friday filing. The money reported $76 cardinal successful Broadcom enactment options.

In Aschenbrenner’s 165-page penning titled “Situational Awareness: The Decade Ahead,” the AI hedge fund’s laminitis wrote that helium expects recursively self-improving AI systems and AGI by 2027, and to execute that, information centers stay a bottleneck. These information halfway facilities could scope trillion-dollar levels of concern earlier the extremity of the decade. From the vigor side, AI information halfway centers volition devour 20% of U.S. energy request by 2030. He based his projections connected compute, FLOPs, and exemplary capabilities.

Daniel Reeves, cofounder of Beeminder, backs Aschenbrenner’s predictions based connected stargate and hyperscale spending. The $500 cardinal stargate task unsocial would correspond astir fractional the standard of Aschenbrenner’s AI information halfway concern prediction.

Hyperscaler superior expenditures besides roseate from $239 cardinal successful 2024 to $368 cardinal from a Goldman Sachs research. The concern slope besides projects hyperscaler spending astatine $432 cardinal successful 2026. AI-related superior expenditure could scope 3% of U.S. GDP.