How Wall Street Sussed Out That Situational Awareness Was on the Ropes

Aug. 17, 2026 7:24 pm ET

David Mann was in a taxi heading to LaGuardia Airport when he heard the news: Wall Street’s AI wunderkind was in trouble.

It was the afternoon of Wednesday, July 29, and Mann got a call from someone working on behalf of Leopold Aschenbrenner’s hedge fund, Situational Awareness, asking if he wanted to buy a piece of the fund’s stake in Anthropic, the artificial-intelligence powerhouse. A deal needed to be done overnight, Mann was told.

Mann realized what was happening—nobody sells pre-IPO shares in a company valued at nearly $1 trillion unless they are on the ropes.

“Aschenbrenner was being forced to sell,” said Mann, chief executive of the Mannsion Group, a family office that owns stakes in Anthropic and other private companies. “He needed the money and was sounding people out.”

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