According to on-chain analyst Ai Yi's monitoring, Leopold Aschenbrenner's Situational Awareness Fund only established positions in three small-cap stocks with market caps below $1 billion in Q1, all of which have surged over 130% since April. The three stocks are T1 Energy Inc. (up 140.5%), SharonAI Holdings (up 233.6%), and HIVE Digital Technologies (up 137.9%), all categorized under the AI infrastructure sector, covering electric power and energy, cloud computing, and digital infrastructure. This aligns with his core investment thesis of "betting on the physical bottlenecks of AI development." Due to Leopold's influence, all three stocks also experienced varying degrees of price increases on the day the 13F filing was disclosed.