JPMorgan has ended lending services for Situational Awareness, an AI-focused hedge fund founded by a former OpenAI researcher, according to a report cited by Odaily and attributed to the Financial Times. The fund had taken leveraged bets tied to the AI theme and suffered heavy losses, leaving it close to collapse. That deterioration prompted the U.S. investment bank to cut off the relationship. The report did not disclose further details on the financing arrangement, the scale of the losses, or the timing of the decision beyond stating that JPMorgan had already terminated the service. The development links mounting losses in AI-related leveraged investments directly to the bank’s move to end cooperation with the fund.
JPMorgan has terminated lending services to Situational Awareness, an AI-focused hedge fund, according to Odaily, which cited the Financial Times.
The fund was founded by a former OpenAI researcher. It reportedly suffered heavy losses from AI-related leveraged investments and was nearing collapse, prompting JPMorgan to end the relationship.
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