Aschenbrenner Fund Rotates Into AI Infrastructure While Trimming Bloom Energy

As of May 22, Situational Awareness LP is shifting aggressively into AI plumbing plays including energy infrastructure and repurposed crypto miners, even as it trims its Bloom Energy stake after massive gains. The move builds on the fund’s Q1 13F disclosures that first surfaced May 18, revealing assets had more than doubled to $13.67 billion and $8.46 billion in semiconductor put options had been established, including a $1.57 billion position against Nvidia. By May 19 the filing had intensified bubble warnings ahead of Nvidia’s earnings, with strategists citing valuation risks and higher yields. The latest snapshot underscores a thematic rotation from chipmakers toward data-center enablers while some profit-taking occurs.