According to CoinMeta, a hedge fund managed by a former researcher OpenAI collapsed from $45 billion to $10 billion after suffering huge losses. The fund borrowed up to four times its capital to make investments on the AI infrastructure. When these stocks fell in July, the bank's margin requirements forced it to start selling assets. Ken Griffin's Citadel purchased most of the fund's portfolio at a discount. The fund lost about 67% in July, but as of now has still gained about 80%, according to data from Bloomberg.