The financing business for hedge funds at Goldman Sachs now revolves largely around a single account managed by Leopold Aschenbrenner. His AI-focused firm, Situational Awareness, paid the bank more than $200 million in fees this year, which represents the highest amount of any client in the firm's prime brokerage division.

The fund is barely two years old, a growth trajectory that is virtually unheard of for an investment bank client on Wall Street. The high fee volume resulted from the rapid scaling of Aschenbrenner's fund as well as the specific types of trades executed through the brokerage.