Leopold Aschenbrenner just pulled off one of the wildest trades of the AI boom by betting on electricity, not algorithms.

BE stock is moving. See the chart and price action here. 

The 24-year-old former OpenAI safety researcher was let go in 2024. He then published a 165-page essay arguing that AGI was coming far faster than investors realized and the real constraint would not be models or chips. 

Aschenbrenner argued that the real bottleneck would be power and the winners of the AI race would be the players who control the energy that feeds the models.

His thesis became Situational Awareness LP, a hedge fund launched with roughly $225 million. 

Situational Awareness

In early 2025, Aschenbrenner began building a position in Bloom Energy Corp. (NASDAQ:BE), a fuel cell company that generates power directly at data centers and ...