# A hedge fund launched by former OpenAI researcher Leopold Aschenbrenner has placed sizable bearish bets against AI chip stocks.

*fintech · news · 2026-05-19 · Seeking Alpha*

## Key points

- Leopold Aschenbrenner's fund disclosed $1.56B in Nvidia puts and $2B in SMH bearish bets.
- Situational Awareness fund also holds large put positions in Broadcom, Oracle, AMD, TSM, ASML, and Intel.
- May's Bank of America survey shows 73% of managers see semiconductors as the most crowded trade.
- Citi nearly doubled its Micron price target to $840 on expectations for higher DRAM pricing.
- United Airlines bookings to eclipse destinations surged over 50% ahead of August 12 total solar eclipse.

**Companies:** Nvidia (NVDA), Taiwan Semiconductor Manufacturing (TSM), Broadcom (AVGO), Oracle (ORCL), Advanced Micro Devices (AMD), ASML (ASML), Intel (INTC), Home Depot (HD), Micron Technology (MU), United Airlines (UAL), Rocket Lab (RKLB), Sidus Space (SIDU), MDA Space (MDA), Virgin Galactic (SPCE), Intuitive Machines (LUNR), Red Cat Holdings (RCAT)
**Countries:** United States, Spain, Iceland, Greenland

[Read the full story on Seeking Alpha](https://seekingalpha.com/article/4906573-wall-street-lunch-ex-openai-researchers-hedge-fund-reveals-bearish-bets-on-nvidia-ai-chip-stocks)

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