09/17/2026
Down big, then back. AI investor Leopold Aschenbrenner rebuilt his book after a painful blowup — and he's betting onthe same thing all over again: AI infrastructure.
What changed isn't the thesis. It's the risk. Gone is the heavy leverage that forced him out last time; the new setup is built to survive a drawdown, not get wiped by one.
The conviction still sits on four pillars:
• Chips
• Memory
• Cloud compute
• Power
Smart Money tracks institutional holdings, insider moves and fund flows in one view. Track the institutional portfolio changes on Moomoo: https://j.moomoo.com/0IFn7O
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