Leopold Aschenbrenner’s Situational Awareness has resumed betting on AI-related companies after a July liquidity crisis forced it to sell more than $4 billion in public equities to Ken Griffin’s Citadel at a discount. CNBC reported that the fund bought call options on AMD, Bloom Energy, CoreWeave, SK Hynix and SanDisk in trades spanning late last week and this week. The fund’s assets fell from above $45 billion to roughly $10 billion after leverage magnified losses, while its private holdings, including Anthropic, remained in place. JPMorgan Chase & Co. ended its prime brokerage lending relationship, and Situational Awareness is seeking to rebuild market access through Clear Street while using fully paid options that cap losses at the premiums paid. The Securities and Exchange Commission has subpoenaed several Wall Street banks over their dealings with the fund, without alleging wrongdoing.