Aschenbrenner Adds Puts on Broadcom and Nine Other AI-Chip Giants in Q1 Filing
Leopold Aschenbrenner disclosed new put options on Broadcom and nine other leading AI-chip firms in his Q1 13F, signaling a shift from his prior bullish stance. Soaring Treasury yields and AI-chip valuations, likened to the 1720s Mississippi Bubble, heighten downside risks for Broadcom shares.
1. Aschenbrenner's Q1 13F Shows Bearish Puts
In a Q1 13F filing, Leopold Aschenbrenner’s Situational Awareness Fund established new put option positions on ten major AI-chip names including Broadcom, AMD, NVIDIA, Intel, Micron, ASML, Oracle, TSMC, Corning, and the VanEck Semiconductor ETF. These positions mark a reversal from his earlier bullish trades in under-the-radar AI and energy names and represent a direct bet on a decline in share prices.
2. Treasury Yields Weigh on Semiconductor Rally
Rising 10-year Treasury yields have pressured long-duration growth stocks, exacerbating investor anxiety and triggering sharp pullbacks across AI-chip equities. Elevated bond yields undermine valuations that rely on future earnings, amplifying vulnerability to market shifts and increasing selling pressure on companies like Broadcom.
3. Bubble Warnings and Short-Seller Alerts
Valuation metrics for key AI-chip stocks have reached levels likened to the 1720s Mississippi Bubble and the dot-com peak, fueled by parabolic price action since late March. High-profile short sellers warn of a sector-wide correction, citing historical precedents such as railroads and early internet purveyors that ultimately failed.