{"id":165604,"date":"2026-08-02T04:17:14","date_gmt":"2026-08-02T04:17:14","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/165604\/"},"modified":"2026-08-02T04:17:14","modified_gmt":"2026-08-02T04:17:14","slug":"zazracny-investor-do-umele-inteligence-aschenbrenner-narazil-prodelal-miliardy-dolaru","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/165604\/","title":{"rendered":"Z\u00e1zra\u010dn\u00fd investor do um\u011bl\u00e9 inteligence Aschenbrenner narazil, prod\u011blal miliardy dolar\u016f"},"content":{"rendered":"

Je\u0161t\u011b na konci \u010dervna se p\u011btadvacetilet\u00fd Aschenbrenner chlubil, \u017ee jeho fond Situational Awareness od za\u010d\u00e1tku roku vyd\u011blal 439\u00a0procent a\u00a0od sv\u00e9ho zalo\u017een\u00ed v\u00edce ne\u017e 1500\u00a0procent. O\u00a0n\u011bkolik t\u00fddn\u016f pozd\u011bji u\u017e jednal o\u00a0rychl\u00e9m prodeji v\u011bt\u0161iny ve\u0159ejn\u011b obchodovan\u00fdch akci\u00ed.<\/p>\n

Rozs\u00e1hlou \u010d\u00e1st portfolia nakonec p\u0159evzal fond Citadel americk\u00e9ho miliard\u00e1\u0159e Kena Griffina. O\u00a0aktiva se podle lid\u00ed obezn\u00e1men\u00fdch s\u00a0jedn\u00e1n\u00edm zaj\u00edmaly tak\u00e9 investi\u010dn\u00ed spole\u010dnosti Millennium Management a\u00a0Jane Street.<\/p>\n

Situational Awareness prodal podle britsk\u00e9ho listu The Financial Times Citadelu v\u011bt\u0161inu ve\u0159ejn\u011b obchodovan\u00e9ho portfolia, jeho\u017e hodnota se d\u0159\u00edve odhadovala asi na 16\u00a0miliard dolar\u016f (336\u00a0miliard korun). Fond byl pod tlakem, aby bu\u010f z\u00edskal nov\u00fd kapit\u00e1l, nebo sv\u00e9 pozice rychle uzav\u0159el.<\/p>\n

<\/a><\/p>\n

Aschenbrenner nem\u011bl p\u0159ed zalo\u017een\u00edm fondu prakticky \u017e\u00e1dn\u00e9 zku\u0161enosti s\u00a0obchodov\u00e1n\u00edm na finan\u010dn\u00edch trz\u00edch. Vystudoval ekonomii a\u00a0matematickou statistiku na Kolumbijsk\u00e9 univerzit\u011b v\u00a0New Yorku, kde se stal nejlep\u0161\u00edm absolventem ro\u010dn\u00edku 2021.\u00a0Pozd\u011bji p\u016fsobil v\u00a0OpenAI a\u00a0jeho \u00fakolem bylo hledat zp\u016fsoby, jak udr\u017eet pod kontrolou syst\u00e9my um\u011bl\u00e9 inteligence, kter\u00e9 by mohly p\u0159ekonat lidsk\u00e9 schopnosti.<\/p>\n

OpenAI ho v\u00a0roce 2024\u00a0propustila kv\u016fli \u00fadajn\u00e9mu vynesen\u00ed intern\u00edch informac\u00ed. Aschenbrenner tvrdil, \u017ee skute\u010dn\u00fdm d\u016fvodem byly jeho v\u00fdhrady k\u00a0zabezpe\u010den\u00ed firmy a\u00a0nedostate\u010dn\u00e9 ochran\u011b v\u00fdzkumu p\u0159ed zahrani\u010dn\u00edmi st\u00e1ty.<\/p>\n

Kr\u00e1tce pot\u00e9 zve\u0159ejnil rozs\u00e1hlou esej Situational Awareness, podle n\u00ed\u017e by se um\u011bl\u00e1 inteligence mohla kolem roku 2027\u00a0dostat na \u00farove\u0148 obecn\u00e9 lidsk\u00e9 inteligence. P\u0159edpov\u00eddal tak\u00e9 prudk\u00fd r\u016fst investic do \u010dip\u016f, datov\u00fdch center, elektr\u00e1ren a\u00a0p\u0159enosov\u00fdch s\u00edt\u00ed.<\/p>\n

Podle jeho sc\u00e9n\u00e1\u0159e m\u011bly technologick\u00e9 spole\u010dnosti do v\u00fdpo\u010detn\u00ed infrastruktury nal\u00edt biliony dolar\u016f. Pr\u00e1v\u011b na t\u00e9to p\u0159edpov\u011bdi postavil svou investi\u010dn\u00ed strategii.<\/p>\n

Situational Awareness investoval do firem, kter\u00e9 m\u011bly t\u011b\u017eit z\u00a0prudk\u00e9ho rozvoje um\u011bl\u00e9 inteligence. Ne\u0161lo pouze o\u00a0v\u00fdrobce \u010dip\u016f, ale tak\u00e9 o\u00a0provozovatele datov\u00fdch center, energetick\u00e9 spole\u010dnosti nebo producenty za\u0159\u00edzen\u00ed pot\u0159ebn\u00fdch pro v\u00fdstavbu nov\u00e9 infrastruktury.<\/p>\n

Ve\u0159ejn\u00e9 v\u00fdkazy americk\u00e9 Komise pro cenn\u00e9 pap\u00edry ukazuj\u00ed, \u017ee fond na konci leto\u0161n\u00edho prvn\u00edho \u010dtvrtlet\u00ed vykazoval americk\u00e9 burzovn\u00ed pozice v\u00a0hodnot\u011b p\u0159ibli\u017en\u011b 13,7\u00a0miliardy dolar\u016f (288\u00a0miliard K\u010d).<\/p>\n

Mezi v\u00fdznamn\u00e9 investice pat\u0159ily spole\u010dnosti Bloom Energy, CoreWeave, Sandisk a\u00a0firmy spojen\u00e9 s\u00a0t\u011b\u017ebou kryptom\u011bn a\u00a0provozem datov\u00fdch center. Fond z\u00e1rove\u0148 pou\u017e\u00edval opce, v\u010detn\u011b rozs\u00e1hl\u00fdch s\u00e1zek na pokles n\u011bkter\u00fdch v\u00fdrobc\u016f \u010dip\u016f a\u00a0technologick\u00fdch spole\u010dnost\u00ed.<\/p>\n

V portfoliu se objevovaly nap\u0159\u00edklad opce spojen\u00e9 s\u00a0akciemi spole\u010dnost\u00ed Nvidia, AMD, Broadcom, Oracle, Micron nebo v\u00fdrobcem \u010dipov\u00fdch za\u0159\u00edzen\u00ed ASML.<\/p>\n

Takov\u00e9 rozlo\u017een\u00ed mohlo vyd\u011bl\u00e1vat, pokud se jednotliv\u00e9 \u010d\u00e1sti trhu vyv\u00edjely p\u0159esn\u011b podle Aschenbrennerova sc\u00e9n\u00e1\u0159e. P\u0159i prudk\u00e9m a\u00a0ne\u010dekan\u00e9m pohybu cen se v\u0161ak riziko rychle n\u00e1sobilo.<\/p>\n

P\u016fj\u010den\u00e9 pen\u00edze urychlily p\u00e1d<\/p>\n

Nejv\u011bt\u0161\u00edm probl\u00e9mem nebyl jen pokles technologick\u00fdch akci\u00ed, ale pou\u017eit\u00ed finan\u010dn\u00ed p\u00e1ky. Fond si od bank p\u016fj\u010doval pen\u00edze proti hodnot\u011b dr\u017een\u00e9ho portfolia, aby mohl sv\u00e9 pozice je\u0161t\u011b zv\u011bt\u0161it.<\/p>\n

Dokud ceny rostly, p\u016fj\u010den\u00e9 pen\u00edze n\u00e1sobily v\u00fdnosy. Jakmile se trh obr\u00e1til, stejn\u00fdm zp\u016fsobem zes\u00edlily ztr\u00e1ty.<\/p>\n

Banky obsluhuj\u00edc\u00ed fond za\u010daly po\u017eadovat dodate\u010dn\u00e9 zaji\u0161t\u011bn\u00ed. Situational Awareness tak musel sh\u00e1n\u011bt nov\u00fd kapit\u00e1l nebo prod\u00e1vat aktiva. N\u00e1sledn\u00fd prodej velk\u00fdch bal\u00edk\u016f akci\u00ed mohl d\u00e1l tla\u010dit jejich ceny dol\u016f a\u00a0vyvol\u00e1vat dal\u0161\u00ed po\u017eadavky bank.<\/p>\n

Podle den\u00edku The Wall Street Journal oslabil fond jen b\u011bhem \u010dervence p\u0159ibli\u017en\u011b o\u00a067\u00a0procent. P\u0159es tento propad m\u011bl d\u00edky p\u0159edchoz\u00edm mimo\u0159\u00e1dn\u00fdm zisk\u016fm z\u016fst\u00e1vat od za\u010d\u00e1tku roku v\u00a0plusu.<\/p>\n

Aschenbrenner se je\u0161t\u011b minul\u00fd p\u00e1tek sna\u017eil investory uklidnit. P\u0159iznal zv\u00fd\u0161enou kol\u00edsavost trhu, sou\u010dasn\u011b ale tvrdil, \u017ee v\u00fdprodej vytv\u00e1\u0159\u00ed p\u0159\u00edle\u017eitost k\u00a0dal\u0161\u00edm n\u00e1kup\u016fm. Situace se v\u0161ak b\u011bhem n\u011bkolika dn\u016f v\u00fdrazn\u011b zhor\u0161ila.<\/p>\n

Do jedn\u00e1n\u00ed o\u00a0p\u0159evzet\u00ed portfolia se zapojily nejv\u011bt\u0161\u00ed spole\u010dnosti na Wall Street. V\u00edt\u011bzem se nakonec stal Citadel, jeho\u017e zakladatel Ken Griffin se m\u011bl na no\u010dn\u00edch rozhovorech osobn\u011b pod\u00edlet.<\/p>\n

Na dokon\u010den\u00ed transakce spolupracovaly banky Goldman Sachs, JPMorgan Chase, Bank of America a\u00a0Citigroup. Citadel p\u0159evzal p\u0159edev\u0161\u00edm tu \u010d\u00e1st portfolia, kter\u00e1 byla financov\u00e1na pomoc\u00ed p\u016fj\u010dek.<\/p>\n

Situational Awareness podle dostupn\u00fdch informac\u00ed z\u016fstala \u010d\u00e1st akci\u00ed bez finan\u010dn\u00ed p\u00e1ky a\u00a0soukrom\u00e9 investice. Mezi nimi je i\u00a0pod\u00edl ve spole\u010dnosti Anthropic, kter\u00e1 vyv\u00edj\u00ed modely um\u011bl\u00e9 inteligence Claude.<\/p>\n

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