Antoine Gara
speaker
55 appearances
2 recordings
1 series
first heard Jul 2026
last heard 31 Jul
Antoine Gara’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 2.
Appearances
Hi, how are you?
Well, it's a hedge fund that was started by a guy in his mid-20s named Leopold Aschenbrenner.
And he had this really interesting background.
He had worked for the nonprofit foundation attached to FTX and was one of the early founders.
engineers at OpenAI, which is obviously one of the foundational AI startups.
And he began to raise money for a hedge fund based on like, let's play this trade.
And in addition to just buying the stocks, he had relationships with the largest banks on Wall Street to provide him extra leverage to amplify the bets.
And then heading into July, the trade wobbled.
And so some of these stocks, they could have been up five times or 10 times or 15 times this year.
They began to fall.
And when you use leverage, significant but not like catastrophic drops in a stock can start to get very painful.
Well, what we reported was, you know, over the past couple of days, situational awareness could feel, you know, a bit of financial pressure, a lot of financial pressure.
And so it was looking ways to either cut its exposure or raise capital.
And so what we reported was he held talks with a lot of the large hedge funds to basically sell down most of his public portfolio.
And ultimately, he did that by selling to Citadel.
Well, just like the internet back in the 1990s, the smartest investors in the world really do believe AI is this new super cycle.
But when these kinds of trends happen, sometimes people will take on too much leverage to build up as big an exposure as possible, especially at the margins in the kind of the more high beta or the more highly volatile parts of the AI trade.
Thank you.
Hi, how are you?
Well, Aries is one of the premier private credit firms.
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