Aschenbrenner Bets $13.67B on Bitcoin Miners While Shorting Nvidia

On May 19 the latest 13F update confirmed Leopold Aschenbrenner’s Situational Awareness LP expanded its disclosed equity book from $5.52 billion at year-end 2025 to $13.67 billion by March 31. The portfolio is heavily concentrated in long positions in Bitcoin miners and AI-power infrastructure names such as Bloom Energy, Riot, Core Scientific and CleanSpark. At the same time the fund opened roughly $7.46 billion in put options against semiconductor names, including a $2.04 billion position in the VanEck Semiconductor ETF and a $1.57 billion put on Nvidia. The dual stance—long mining equities and short chipmakers—signals bullish sentiment toward crypto-related infrastructure while adding downside pressure to semiconductor stocks.