AI hedge fund Situational Awareness crashed after betting big on artificial intelligence, forcing a rushed sale to Citadel with Bank of America as key lender. The fallout is sparking alarm in financial markets, with Bank of America’s CEO Brian Moynihan warning about overheated valuations and risky leverage — a wake-up call urging caution even as AI fuels market gains. Big banks are now scrutinizing risk exposure, ready to tighten rules if volatility rises.
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