Leopold Aschenbrenner, the former OpenAI researcher known for warning that China could steal advanced AI models, has rapidly increased his bets on Bitcoin miners and AI infrastructure companies while building multibillion-dollar positions in semiconductor stocks.
In its latest 13F filing with the U.S. Securities and Exchange Commission, Aschenbrenner expanded its disclosed equity exposure from $5.5 billion at the end of 2025 to $13.67 billion by March 31.
Some of his biggest long positions were tied to companies that provide power, data center capacity and computing infrastructure to the AI industry. The filing revealed holdings in Bitcoin miners and related infrastructure companies including IREN, Core Scientific (CORZ), Riot Platforms (RIOT), CleanSpark (CLSK), Bitfarms (BITF), Bitdeer (BTDR), and Hive Digital (HIVE).
These companies are increasingly positioning themselves as suppliers of power and high-performance computing infrastructure for AI workloads as well as crypto mining. As demand for AI data centers increases, energy contracts and existing access to large facilities are attracting investor interest.
Aschenbrenner also disclosed large positions in Bloom Energy (BE), SanDisk (SNDK), and cloud provider Coreweave (CRWV). Taken together, the portfolio suggests he still expects long-term growth in the physical infrastructure that supports artificial intelligence.
At the same time, it opened $7.46 billion worth of put options on major semiconductor companies and chip-related exchange traded funds (ETFs). The largest bearish positions included a $2.04 billion put on the VanEck Semiconductor ETF, a $1.57 billion Nvidia (NVDA) put, and more than $1 billion of puts related to Oracle (ORCL) and Broadcom (AVGO).
