Situational Awareness Invests $500 Million in Source Foundry
Hedge fund Situational Awareness invested $400 million in chip startup Source Foundry to develop alternatives to ASML lithography machines.
Situational Awareness invested $400 million this week in Source Foundry, a private startup founded by Stanford University researchers Abdulmalik Obaid and Joe Burg. This latest infusion brings the hedge fund's total investment in the company to $500 million.
Source Foundry aims to reinvent chip manufacturing by developing faster and cheaper alternatives to the extreme ultraviolet lithography machines produced by ASML Holding. The startup recently raised funds at a $5 billion valuation and previously received backing from Sequoia Capital.
The investment marks a strategic pivot for Situational Awareness, led by Leopold Aschenbrenner. The fund is now directing capital toward ambitious, long-term technical bets after selling the bulk of its public stock portfolio to Citadel in July following substantial losses.
Keep reading in the app
The full story and every source, free in the app.
Coming soonGoogle Play