WSJ reports： Ex OpenAI researcher Leopold Aschenbrenner's hedge fund lost about 67% of its value this month after heavy losses on AI stocks.

That collapse landed on a firm that had grown from a few hundred million dollars to more than $20B in roughly 2 years.

The growth came because he was read as an AI oracle， so other investors tracked his positions and copied the direction.

Leverage made those positions work while AI names climbed， since borrowed money multiplies a correct call. It multiplies the other direction too， and once the July selloff hit， lenders started issuing margin calls.

To raise cash fast， the firm sold the bulk of its stock portfolio to Citadel in the middle of the rout.

Aschenbrenner also tried to move $3.5B of the fund's stake in Anthropic to a group of investors led by Greenoaks and Sequoia Capital.

Those parties reached a deal late Wednesday， but the seller changed its mind and backed out by Thursday morning.

So the private holdings stay intact for now， while the leverage that caused the damage has been stripped out of the portfolio entirely.

In the letter to investors， he wrote that the firm let them down， and partly blamed short sellers who targeted his positions.