Situational Awareness Fund Holds $875M Bloom Stake and 20.2M Intel Calls as AI Power Gaps Tighten

Context AI models now consume megawatts of electricity, exposing limits in existing grids. Investors who anticipate where new power and silicon will be sourced stand to capture outsized returns. Aschenbrenner, a former OpenAI researcher, built a hedge fund around this premise, publishing a manifesto that AI could reach artificial general intelligence within years.

Key Facts - The fund reported 10.1 million Bloom Energy (NYSE: BE) shares worth $875 million at the end of Q4 2025, plus 408,500 call options on the stock. Bloom closed May 1 at $290.81, a 176% rise from the fund’s average purchase price of roughly $105. - Intel (NASDAQ: INTC) saw its data‑center and AI (DCAI) segment grow 22% year‑over‑year and its foundry business expand 16% in the latest quarter. The fund holds 20.2 million Intel call options purchased in Q1 2025. - Intel’s Xeon 6 CPUs now power Nvidia’s DGX Rubin NVL8 systems, and the company deepens ties with Alphabet on custom ASICs aimed at cutting AI latency and power use.

What It Means Bloom Energy’s solid‑oxide fuel cells provide modular, on‑site power that bypasses congested utilities, a solution directly aligned with the fund’s thesis that AI will outpace traditional electricity supply. The 176% stock gain validates the timing of the fund’s entry.

Intel’s growth in DCAI and foundry capacity signals a shift from legacy PC cycles to AI‑centric demand. The fund’s large call position suggests confidence that Intel will capture a larger share of the AI compute market, especially as hyperscale providers adopt its CPUs and custom silicon.

Both holdings illustrate a broader market trend: capital is moving toward firms that can alleviate AI’s power and chip shortages. As AI workloads expand, companies that deliver reliable, efficient power and advanced manufacturing are likely to see accelerated revenue growth.

Looking Ahead Watch Intel’s quarterly earnings for signs of deeper AI integration and monitor Bloom’s order backlog as data‑center builders scale up on‑site fuel‑cell deployments.