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Situational Awareness is a hedge fund that uses artificial intelligence to pick stocks. The fund was losing money and needed help. Citadel, a large investment firm run by Kenneth Griffin, gave it money to stay open. Three people who know the deal said this happened.
Jim Cramer said that many investors are being forced to sell AI stocks, which he calls a "clearing event." A clearing event means a lot of selling happens quickly, often pushing prices down. He thinks this selling could show that the AI trade has reached its lowest point. Cramer added that the hedge fund Situational Awareness, started by a former OpenAI researcher, is not the only fund in trouble. He made these comments on Thursday.
