AI hedge fund Situational Awareness ups stake in Core Scientific to 9.4% as CoreWeave note nears
Situational Awareness LP, the AI-focused hedge fund led by Leopold Aschenbrenner with Carl Shulman as research lead, disclosed a 9.4% position in Core Scientific (CORZ), filing an amended Schedule 13D that lists 28,756,478 shares with shared voting and disposition power. The filing dates the triggering event to October 9.
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The fund has been active in recent weeks. Trade disclosures show purchases across September 30, October 9–10 and October 14, including a 2,306,152-share buy on October 14 at $19.0684.
Situational Awareness is a high-profile newcomer that has raised more than $1.5 billion and reported a 47% gain after fees in 1H25, according to media reports. Its Q2 2025 13F showed a concentrated, AI-infrastructure tilt spanning semiconductor exposure (SMH options, Intel calls, Broadcom) and power names (Vistra), alongside Core Scientific and IREN.
Core Scientific, which emerged from bankruptcy in early 2024, agreed on July 7 to be acquired by CoreWeave in an all-stock deal initially valued near $9 billion. Terms set a fixed exchange ratio of 0.1235 CoreWeave Class A shares for each Core Scientific share. The companies’ registration and proxy materials were cleared on September 26, and Core Scientific scheduled an October 30 special meeting to vote.
The transaction has met organized pushback. Two Seas Capital—holder of 6.3% per its August Schedule 13D—has filed proxy materials urging shareholders to vote against the deal, citing an inadequate price and the absence of protections such as a collar as CoreWeave’s stock declined. Core Scientific’s board has continued to recommend the merger and this week urged a “for” vote.
Situational Awareness said in its filing that the Core Scientific stake was acquired for investment. The fund reported shared voting and disposition power and did not outline any specific control plans.
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At time of publication, CORZ is down 0.7% from yesterday’s close.
