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CNN tells the unfortunate tale of hedge fund Situational Awareness, "founded in 2024 by German-born Leopold Aschenbrenner when he was in his early 20s." Aschenbrenner, a former OpenAI employee, founded the hedge fund on the premise that "AI will be the dominant driver of global market returns over the next decade," according to the firm's site... Aschenbrenner managed to turn hundreds of millions of dollars into tens of billions of dollars over the course of roughly two years... That streak ended on Thursday, though, when the fund was forced to sell the bulk of its public holdings to a bigger rival after many of its investments went south. But that's only part of the story. The fund employed a risky strategy of borrowing money to purchase stocks. When the investments appreciate, the payoff can be massive. But when the investments sour, the losses can be catastrophic. The downturn in AI stocks over the course of this month, like chip makers and cloud computing providers, hit the hedge fund extra hard. It was forced to sell off many investments at a steep discount to rival hedge fund Citadel in what Aschenbrenner reportedly compared to a "bank run" in a letter to investors. "Critics pointed out that Aschenbrenner had no experience running money prior to launching his fund in July 2024, calling him more lucky than smart," writes CNBC: Some noted that his early work experience was at the doomed crypto firm FTX, where he helped now-disgraced founder Sam Bankman-Fried run a charity out of a Bahamas penthouse. Others on Wall Street, including former traders at global investment banks, noted that in light of reports Situational Awareness used as much as 400% leverage, the collapse wasn't shocking. The Wall Street Journal reports that Situational Awareness "also used options to amplify its returns. That meant that even small declines in individual names could have big impacts on Situational's portfolio." And so, as the New York Post put it, "The celebrated crystal ball of the 'Nostradamus of AI' hasn't merely gone cloudy - it has rolled off the table and shattered on the parlor floor." Wall Street breathed a huge sigh of relief last week as an AI-focused hedge fund called Situational Awareness reportedly sold most of its portfolio - reportedly down 67% last month on the backfiring of debt-fueled bets on chipmakers and assorted artificial-intelligence firms - to billionaire Ken Griffin's Citadel... The prevailing sentiment was best summed up by a veteran Wall Street sage who has seen a lot of flameouts in his day. Let's just say he wasn't impressed by Leopold Aschenbrenner, the 25-year-old German-born "Nostradamus" figure who is the founder of Situational Awareness... "Just your typical leveraged Âidiot who was right until he was wrong," the source said, adding that the implosion is a "one-off..." [Another trusted source] felt there was room for conversation: "A significant issue. Not viewed as systemic right now. I wonder if that changes as more problems arise." Indeed, the fact is that most of Wall Street is closely monitoring the Situational Awareness situation because they were holding many of the same positions as ÂAschenbrenner. Another top hedge fund manager I won't name tells me he has been getting crushed on similar investments in chipmakers essential to the AI supply chain, as well as other companies feeding off this technology. Thanks to Slashdot reader joshuark for sharing the news.

Read more of this story at Slashdot.

02 Aug 2026 4:45am GMT

"A hardware wallet is supposed to be the safest place to keep Bitcoin," writes The Street, since it never connects to the internet, its keys never leave the device, and "the whole point is that an attacker would need to physically hold it to steal anything." The problem is that anyone who can reproduce the recovery seed doesn't need to possess the COLDCAR, Nerds.xyz points out. More from The Street: [The recovery seed] is supposed to come from a hardware random number generator producing 128 bits of entropy, a number so large that guessing it is computationally impossible. It wasn't. According to Block's engineering team a single code change on March 1, 2021 caused the firmware to silently fall back to a software-based generator instead of the hardware one. On Mk3 devices the effective search space collapsed to roughly 40 bits. Coinkite has confirmed that figure and called it preliminary. The gap between 128 bits and 40 bits is not a matter of degree. It is the difference between a lock that cannot be picked and one that can be brute-forced by anyone with rented cloud computing.... Chainalysis found the attacker went after the largest balances first, pulling more than $30 million in the opening ten minutes. Within about 25 minutes, roughly 594 BTC had moved out of some 500 single-signature wallets. One victim lost around $1.8 million... Coinkite has shipped fixed firmware, but with a warning that matters more than the patch itself. Updating does not repair an existing seed. A seed created with weak entropy stays weak forever. Affected users have to generate an entirely new wallet on updated hardware and move their coins to it. By Saturday morning Galaxy research was tracking 1,158.66 BTC, worth roughly $75.1 million, taken from 2,673 addresses, according to the article. And "The Coldcard exploit is ONGOING," Galaxy Research posted an hour ago on X.com. "Move Coldcard single-sig funds to safe locations immediately!" We have reported ~600 addresses we believe to be hackers holding funds stolen from Coldcard-generated weak entropy addresses to federal investigators, industry compliance firms, and cross-industry cyber investigators. Thanks to Slashdot reader BrianFagioli for sharing the news.

Read more of this story at Slashdot.

02 Aug 2026 1:48am GMT

The Washington Post looks at giant tech companies "feeding every available dollar into the cash-incinerating maw of AI machines." They warn "Tech superstars that once had oodles of cash left over at the end of each year are now flipping into the red..." [While optimists expect] huge corporate profits and a society-wide boost to wealth and well-being... questions about that AI vision are now growing more urgent: When, if ever, will this payoff arrive? And what will the fallout be for Americans if the titanic investment doesn't quickly deliver? "This AI thing better work out because if it doesn't ... we're going to have a problem," said Torsten Slok, chief economist at investment firm Apollo Global Management. AI costs and doubts are spreading. The U.S. stock market has swooned this summer over fear of the AI bubble going bust... The AI gamble sweeping up American fortunes is led by tech companies splurging on hulking data centers packed with computer chips and equipment needed to develop sophisticated AI models and deliver them to customers. In investor calls in the past week, Google, Microsoft, Meta and Amazon pointed to soaring AI-related sales and business deals. Advertisers are using the technology to tailor marketing pitches and corporations and start-ups are buying access to chatbots and other AI software to boost productivity... But this spending can only continue if AI generates an even larger avalanche of new revenue to pay for it all. Financial results released over the past week show that the AI titans' mammoth costs are largely swamping the sales boost from the technology. At Google, for every dollar of cash its business generated in the past three months, $1.15 went out the door to pay for AI computer chips and equipment, land for AI data centers and other big-ticket purchases. The company is covering the difference partly by borrowing money and selling more of its stock. Next year, five leading AI companies - Google, Amazon, Microsoft, Meta and Oracle - are projected to have negative free cash flow, which measures the cash left over after paying expenses and AI infrastructure costs. The figures, based on investment analyst projections compiled by S&P Global Market Intelligence, show a stunning reversal for what have been some of the world's most cash-generating corporations... The companies remain profitable by standard financial accounting measures that spread out the costs of their AI infrastructure spending over many years... Pessimists see a bet so gargantuan that it cannot possibly pay off. The pessimists are growing louder. The Bank for International Settlements, a typically measured institution in Switzerland that advises government bankers around the world, recently warned there was risk of "economy-wide recessions" if the AI boom falters. That could mean pain for workers and communities across the United States. "I'm not saying AI is going to go away, it's just not clear to me these guys are going to make money on it," said Christopher Wood, global head of equity strategy at investment bank Jefferies who has correctly predictedpast financial bubbles.

Read more of this story at Slashdot.

02 Aug 2026 12:12am GMT

NetBSD, the operating system specifically designed to run on anything from a supercomputer to a toothpick, just released version 11.0. There's a ton of changes and improvements here, such as a brand new port to RISC-V, which supports a number of the more popular RISC-V SoCs (sadly, not the one I have just yet). NetBSD 11.0 also adds initial support for the Qualcomm Snapdragon X Elite platform, as well as a port to the virt68k platform, which means the Motorola 68000 port in QEMU using paravirtualized devices. Speaking of virtualisation, they're also introducing a new MICROVM kernel for x86: New MICROVM kernel for x86, supporting both i386 and amd64, NetBSD 11.0 introduces a dedicated MICROVM kernel designed for extremely fast virtual machine boot, leveraging PVH boot, VirtIO MMIO, and multiple kernel optimizations, it can boot in about 10 ms on 2020-era x86 CPUs. ↫ NetBSD 11.0 release notes There's also improved support for Linux system calls in compat_linux, the npf firewall, and much more. Of course, the list of other improvements, buigfixes, and smaller changes is long, including many changes for old, outdated, or otherwise odd architectures and platforms, as is the NetBSD way. Which other operating system proudly lists substantial improvements to their PA-RISC, Motorola 68000, and Alpha ports, among others?

01 Aug 2026 9:14pm GMT

I have a policy to effectively never link to YouTube videos. I'll gladly make an exception for this one. Reflection is one of the most powerful concepts in Computer Science. Unfortunately, not every programming language is blessed enough to have it. In the 1980s, one company, Symbolics took the concept to the logical extreme. By representing EVERYTHING as objects; they created the most powerful (and inadvertently) least private operating system ever created! The company collapsed, but the ideas live on. Some modern languages got a full dose of reflection. Some…weren't so lucky. I ranked them all, and in the end I'll show you how I dragged C++ up a tier with my brand new runtime reflection library, CallMeMaybe! ↫ Laurie Wired The GitHub description of CallMeMaybe: CallMeMaybe (CMM) is a C++ runtime reflection library built on top of P2996 static reflection introduced in C++26. CMM purposefully mirrors many of the std::meta functions to provide a uniform interface, but allows runtime introspection, dynamic invocation, and instantiation by building a runtime reflection registry. Class members can be automatically traversed and reflected by simply adding ] as an annotation. CMM implements a custom type system to completely avoid RTTI requirements. ↫ CallMeMaybe GitHub page My YouTube linking policy will remain in place.

01 Aug 2026 9:05pm GMT

"We believe that a capture of Swift, an attempted capture of Swift, is very much in the cards."

01 Aug 2026 6:20pm GMT

Christopher Nolan's impressionistic remix of Homer's epic poem finds the man behind the myth.

01 Aug 2026 3:19pm GMT

Reddit may still be considering ending its licensing deal with Google.

01 Aug 2026 12:30pm GMT

This is just a short note on my blog that I have resigned from Arch Linux a package maintainer, developer and security team. I've spent around 10 years as an AUR maintainer, security team, Package Maintainer and then Developer. I implemented support for debug packages, did the initial POC work that would become the git migration and even somehow managed to pull of an online conference during The Plague with the help of others.

01 Aug 2026 12:00am GMT

Tcl, or the "Tool Command Language", created and released by John Ousterhout in 1990, deserves a place among the greatest products of the human mind. Especially when combined with its better known graphical user interface Toolkit - Tk. In 1997 Ousterhout was awarded the ACM Software System Award for Tcl/Tk, an award given to institutions or individuals recognized for developing software systems with a lasting influence, reflected in contributions to concepts, in commercial acceptance, or both. ↫ Armen Barsegyan Everything you could ever possibly want to know about Tcl/Tk. There's nothing to add here; if this is up your alley - and you know if it is - just go ahead and read it, and stop wasting time here.

31 Jul 2026 10:44pm GMT

Good morning from JetBrains Berlin office!

01 Jun 2026 12:00am GMT

Just trying to answer one simple question: What if the terminal was 3D?

11 May 2026 12:00am GMT