finance.yahoo.com

JPMorgan ends prime brokerage lending to AI hedge fund after losses

JPMorgan Chase logoJPMorgan Chase
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JPMorgan Chase ended its prime brokerage lending relationship with Leopold Aschenbrenner’s hedge fund, Situational Awareness, citing record-setting losses tied to the wider downturn in artificial intelligence stocks. The move removes a key source of leverage for the mid-twenties investor, whose fund logged the largest dollar loss in hedge fund history, the Financial Times reported.

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