Leopold Aschenbrenner Bets Against Broadcom and Micron

Leopold Aschenbrenner established significant bearish positions against semiconductor companies Broadcom Inc. and Micron Technology, Inc. through his fund, Situational Awareness LP. According to first-quarter 2026 13F filings, the fund placed put bets on approximately 3 million shares of Broadcom and 1.7 million shares of Micron.

The bet against Broadcom is shared by other managers, including Ken Griffin and D.E. Shaw. This position is driven by concerns that cloud customers may eventually replace Broadcom's custom silicon with proprietary internal designs.

Regarding Micron, the bearish outlook follows reports that Nvidia has prioritized SK Hynix and Samsung for high-volume supply allocations of advanced platforms. This shift potentially forces Micron to compete on price for secondary slots. These moves are part of a broader strategy by Aschenbrenner to bet against the semiconductor sector.