At 25, wiped out, lost 100 billion won before the wedding - 36Kr

Leopold Aschenbrenner’s Situational Awareness LP made strong gains in the first half by betting on the AI supply chain, but suffered a sharp hit in July as AI stocks pulled back.

Heavy leverage magnified the drawdown, forcing the fund to de-risk and sell public-market holdings to Citadel.

Some private-asset deal terms also changed, underscoring how quickly AI hype can turn into balance-sheet stress.

The episode is a reminder that in hot thematic trades, position sizing and risk control matter as much as being right on the long-term story.