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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.
The narrative around AI capital expenditure (capex) often feels monolithic: NVIDIA, hyperscalers, data centers, power demand—all bundled into a single "AI infrastructure" idea. As fellow developers, we know real-world
AI agents are fundamentally disrupting the traditional SaaS business model, leading to a "SaaSpocalypse" as companies shift from buying to building their own software. This has caused market tremors, wiped out significant value from SaaS stocks, and prompted a freeze on new SaaS IPOs, forcing the industry to adapt to new pricing models and AI-native competition.
