Aschenbrenner's Fund Slumps $600M in One Day, Remains Up Over 1,000%

Leopold Aschenbrenner's fund has experienced a significant loss of $600 million in a single day, according to recent reports. The decline occurred across several positions, including BE, SNDK, CORZ, IREN, and NBIS.

The losses were substantial, with BE falling by $210 million, SNDK by $180 million, CORZ by $54 million, IREN by $41 million, and NBIS by $104 million. However, despite this massive single-day loss, the fund remains up over 1,000% on its core holdings.

The thesis behind these investments centers on AI inference workloads driving unprecedented NAND demand, on-site power replacing grid connections for data centers, and ex-Bitcoin miners forming the backbone of AI cloud infrastructure. This focus on emerging trends has contributed to the fund's impressive performance in the long term.