Citadel

Hedge fund billionaire Ken Griffin has donated $3 billion to Carnegie Mellon University, setting a record for the largest individual gift to higher education. Part of the funds will build a major tech campus in Miami.

Nasdaq rises by 0.7%, but indices are on track to break a three-week winning streak. Bitcoin is heading for its sharpest weekly gain since March 2023. US 10-year bond yield remains almost unchanged. Oil prices show a slight increase, with modest gains in Europe.

Following the collapse of Leopold Aschenbrenner's Situational Awareness hedge fund, Wall Street is debating Citadel's potential role. Critics suspect that the firm's aggressive macro forecast triggered a panic that allowed it to acquire the fund's assets at a bargain.

Situational Awareness, a hedge fund once considered a leader in AI investing, has faced financial distress following failed bets. Ken Griffin's Citadel has acquired a significant portion of its portfolio, triggering a rally in tech stocks on Wall Street.