Jane Street Reportedly Lost About $15 Billion in July as AI Fund Selloff Hit Tech Positions
- Multiple reports said Jane Street lost about $15 billion in July, which would be its first monthly loss in roughly a decade.
- The losses were linked in part to the blow-up of Situational Awareness, an AI-focused hedge fund backed by Jane Street, after a sharp selloff in AI-related stocks.
- Jane Street also said losses came from long positions in Asian non-AI stocks and from the same trading portfolios that had performed well in the second quarter.
- The firm is moving ahead with about $14.6 billion of debt refinancing, backed by lenders and investors including JPMorgan, Pimco, Capital Group, and Fidelity.
- Despite the July setback, reports said Jane Street's year-to-date trading revenue still exceeds $40 billion.
Jane Street, the proprietary trading firm, was reported to have suffered about $15 billion in losses in July, which would make it the company's first monthly loss in about a decade. The losses were tied to a sharp reversal in the market after AI-related and technology stocks had been strong earlier in the year.
A major factor was the collapse of Situational Awareness, an AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner. The fund had posted strong early-year gains, but faced margin pressure in July as AI-linked stocks sold off, forcing it to liquidate a large part of its equity holdings.
Jane Street said in an internal memo that its investment in the fund had been increased because of the fund's earlier performance, and that the stake had effectively fallen back to around its starting level for the year. The firm also said it lost money on long positions in Asian non-AI stocks and in the same portfolios that had outperformed in the second quarter.
The losses come as Jane Street is also refinancing about $14.6 billion of debt, including replacing public bonds and floating-rate loans. For markets, the report is mildly negative for AI and tech equities because it points to heavy losses tied to that trade, while the broader impact on stocks, crypto, gold and FX is neutral in the article itself.
AI股票热潮回撤拖累Jane Street 7月录得约150亿美元亏损
报道称，Jane Street 7月亏损约150亿美元，若属实，这将是该公司近十年来首次出现单月亏损。亏损与年内此前走强的 AI 和科技股在7月突然回撤有关。
一个主要因素是 Situational Awareness 的失速。该基金由前 OpenAI 研究员 Leopold Aschenbrenner 创立，早前因押注 AI 相关股票而取得强劲收益，但在7月AI板块大幅下跌后承受保证金压力，被迫大规模减持股票仓位。
Jane Street 在内部备忘录中表示，随着该基金早前表现强劲，公司对其投资规模不断加大，而在此次回撤后，这部分投资基本回到年初水平。公司还表示，亏损也来自亚洲非AI股票的多头仓位，以及第二季度表现优异的同一批交易组合。
与此同时，Jane Street 正推进约146亿美元的债务再融资，涉及替换公开债券和浮动利率贷款。就市场影响而言，这则报道对 AI 和科技股偏利空，因为亏损直接与相关仓位回撤有关；对股票、加密货币、黄金和外汇的更广泛影响，报道本身并未给出直接指向。