American hedge fund operator and financial services firm
New York City officials have issued cease-and-desist orders to 42 online retailers selling high-speed e-bikes and scooters, while lawmakers push for broader oversight. The mayor has stopped short of requiring vehicle registration, citing safety concerns, as inspections continue ahead of an Aug. 18 deadline. A council hearing will review enforcement and possible new legislation.
An AI-focused hedge fund called Situational Awareness has reportedly lost about 67% in a month and sold most of its public portfolio to Ken Griffin’s Citadel. The fund’s debt-fuelled, highly leveraged bets on chipmakers and AI firms has forced the sale and has prompted Wall Street to reassess concentrated AI exposures.
Jane Street says it has reduced risk exposure in AI-related trades after a July downturn that hit AI-heavy holdings, with the firm aiming to be more selective about risk in its portfolios.
Ken Griffin has pledged $3 billion to Carnegie Mellon University, including $2 billion to build a 35‑acre Wynwood campus in Miami and $1 billion for priorities at CMU’s Pittsburgh campus. Construction on the Miami site is slated for 2027, with student enrollments planned to begin in 2028; the computer science school will be renamed for Griffin.