SEC probes Wall Street banks over loans tied to 67% AI hedge fund collapse

The U.S. Securities and Exchange Commission (SEC) has issued a subpoena to Goldman Sachs, JPMorgan, Citigroup, and Bank of America for their loans to Situational Awareness, the hedge fund that is focused on AI and saw its value drop by 67 percent in July. A source with knowledge of the issue provided this information to...