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London-based AI cloud infrastructure firm Nscale is in advanced discussions to secure up to $3.5 billion in pre-IPO financing, with significant commitments anticipated from tech giant Nvidia and hedge fund Third Point.
AI-focused hedge fund Situational Awareness, which recently lost billions following a downturn in AI stocks, is now under investigation by the Securities and Exchange Commission (SEC). The SEC has issued subpoenas to banks associated with the fund, though no formal accusations of wrongdoing have been made against Situational Awareness yet.
Embattled AI hedge fund Situational Awareness has invested a further $400 million into chip startup Source Foundry, bringing its total backing to $500 million. This significant move comes despite the fund recently selling off much of its public portfolio and seeing its assets under management drop from $20 billion to $10 billion. The investment underscores a continued strategic focus on critical AI infrastructure, even after recent market struggles.
