Chamath Palihapitiya has filed with the US Securities and Exchange Commission to launch American Exceptionalism Acquisition Corp. A, a special-purpose acquisition company seeking to raise $250 million through an initial public offering on the New York Stock Exchange under the symbol AEXA. Santander is acting as the sole underwriter. The blank-cheque vehicle plans to sell 25 million shares at $10 apiece and will have 24 months to merge with or acquire a business. According to the prospectus, the SPAC will look for targets in artificial intelligence, decentralized finance, defense technologies and energy production that management says are “instrumental in maintaining US global leadership.” The filing contains unusually strong language cautioning that investors could lose their entire stake, underscoring volatility in the market for such vehicles. Palihapitiya’s return to SPACs comes after he wound down two large funds in 2022; several of his earlier deals, including Opendoor, Clover Health and Virgin Galactic, have slumped more than 60 percent since listing.