Situational Awareness Seeks Capital for Fluidstack
AI summary
Bloomberg reported that hedge fund Situational Awareness is raising money from its investors to invest in neocloud startup Fluidstack Ltd. The fund is also pitching clients to invest alongside it in a proposed round that values Fluidstack at $40 billion, up from $18 billion in September. The amount of capital sought and any client commitments were not reported.
In-depth insight
The proposal would combine investor fundraising with a pitch for clients to co-invest in Fluidstack, while the reported valuation increase comes only three months after highly leveraged bets on AI firms nearly led to the hedge fund’s implosion.
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