Jane Street Booked a $15B July Loss Tied to Leopold Aschenbrenner's AI Fund — Its First Down Month in a Decade
CNBC / Reuters / Bloomberg / Hacker News·high signal
Jane Street took roughly $15 billion of losses in July 2026, its first monthly decline in about ten years, from exposure to Situational Awareness — the AI-focused hedge fund run by former OpenAI researcher Leopold Aschenbrenner — and to tech names caught in the same selloff. Situational Awareness fire-sold the bulk of its equity portfolio to Citadel after the AI drawdown triggered margin calls. The firm still shows more than $40 billion in net trading revenue year to date even after the hit, which already exceeds its full-year 2025 revenue; at least one outlet disputes the loss framing against that record.