TLDR

• Nvidia stock rose about 3% to $213.53 in early trading after gaining 5.8% in the previous session.
• Goldman Sachs reaffirmed a Buy rating on Nvidia and maintained a $250 price target.
• The bank expects a beat-and-raise quarter based on current supply and demand trends.
• Major technology companies increased their 2026 capital expenditure forecasts to support AI infrastructure.
• Combined spending by Alphabet, Amazon, Meta Platforms, and Microsoft could reach $725 billion in 2026.

Nvidia shares (NVDA) extended their advance on Thursday as semiconductor stocks moved higher. Nvidia stock gained about 3% to $213.53 in early trading after a 5.8% rise on Wednesday. The move pushed the shares back above $200 ahead of the company’s earnings report later this month.

NVIDIA Corporation, NVDA

Nvidia Stock Rises as Goldman Backs $250 target

Goldman Sachs reaffirmed its Buy rating on Nvidia and kept a $250 price target on the shares. The bank said demand for data center products continues to support upside potential. It also stated that investors may focus on the possible upside to Nvidia’s $1 trillion data center guidance.

The firm expects a “beat-and-raise” quarter based on current supply and demand trends. However, it said expectations remain high, setting a strong bar for further gains. Goldman added that valuation could improve if hyperscalers show stronger profitability and broader enterprise adoption increases.

The bank also cited opportunities linked to agentic systems and server central processing units. It said these trends could expand Nvidia’s reach beyond traditional large-scale buyers. The company will release its quarterly earnings results later this month.

AI Spending Plans Support Nvidia Stock Outlook

Large technology companies recently increased capital expenditure forecasts for 2026. Alphabet, Amazon, Meta Platforms, and Microsoft raised combined spending projections to about $725 billion. Analysts at Bank of America and Evercore estimate total capital expenditure could exceed $1 trillion by 2027.

This level of spending supports continued demand for Nvidia’s graphics processing units. These chips remain central to artificial intelligence workloads in cloud data centers. As a result, sustained infrastructure investment provides a steady revenue backdrop for Nvidia.

Despite this support, Nvidia stock has trailed several semiconductor peers in recent weeks. Over the past month, Advanced Micro Devices rose about 90%, and Micron Technology gained roughly 76%. In comparison, Nvidia stock increased about 19% during the same period.

Since late April, Nvidia shares have traded mostly flat while Intel and Micron have climbed more than 30%. Advanced Micro Devices also advanced about 20% during that stretch. Market updates highlighted supply constraints in memory chips and progress in internal chip development.

Alphabet continues to develop its tensor processing units for internal use. Amazon advances its Trainium chips to support its cloud operations. These in-house solutions improve efficiency for hyperscalers while introducing competition for external suppliers.

Some analysts now describe Nvidia as a broader proxy for the artificial intelligence sector. They say the market treats the company less as a single chipmaker and more as a sector benchmark. Nvidia will report earnings later this month, providing updated financial details.

Kalshi, the prediction-market platform, has closed a $1 billion Series F funding round at a $22 billion valuation, led by Coatue Management with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest. The raise more than doubles Kalshi’s valuation in about five months, underscoring a rising appetite among venture investors for prediction markets as retail adoption accelerates.

A Kalshi spokesperson told Bloomberg that the company’s annualized revenue run rate has surpassed $1.5 billion, a milestone investors are watching as the market matures beyond novelty use cases into real-world, scalable finance. The round’s size and backing come as a16z Crypto’s latest fundraising cycle highlighted prediction markets as a key thematic area for institutional capital. For context, a16z Crypto recently raised a multibillion-dollar fund and signaled notable interest in this segment.

Kalshi operates a centralized, federally regulated marketplace that lets users trade on the outcomes of real-world events—ranging from elections and economic data releases to sports. By contrast, Polymarket operates on decentralized blockchain infrastructure. Collectively, Kalshi and Polymarket accounted for the bulk of more than $25 billion in prediction-market trading volume last month, underscoring how the sector has moved into the mainstream of digital finance.

In line with its broader growth plan, Kalshi has pushed deeper into crypto. The company recently appointed John Wang as head of crypto, and Wang told Forbes that Kalshi hopes to have its prediction markets embedded in every large crypto application, signaling a broader strategy to integrate event-based trading into crypto ecosystems.

Regulatory scrutiny and a strategic policy response

Industry observers frame the latest funding as a sign that prediction markets are evolving from retail-oriented entertainment into institutional risk-management tools. Bernstein Research described the space as entering an “institutional era,” driven by demand for bespoke block trades and contract structures designed to hedge macro and geopolitical risk.

However, the regulatory backdrop remains tense in the United States. NPR reports that Kalshi is involved in at least 19 federal lawsuits alleging that some of its event contracts may violate state gambling laws. States including Massachusetts, New Jersey, Arizona, Nevada, Illinois and Connecticut have challenged Kalshi’s operations, arguing that certain sports and event-based contracts amount to unlicensed gambling. Political pressure has also intensified in Washington, with lawmakers calling for tighter oversight amid concerns about “suspicious trades.”

In response to this heightened scrutiny, Kalshi has expanded its policy bench, hiring former Obama adviser Stephanie Cutter as a policy adviser—an addition widely seen as an effort to strengthen ties with policymakers and navigate evolving oversight.

What the market shift means for investors and builders

The momentum behind Kalshi’s funding round and the broader adoption of prediction markets reflect a broader market recalibration. The sector’s move toward institutional-grade products—such as bespoke macro and geopolitical event contracts—could expand the pool of participants beyond retail traders and venture backers to traditional financial institutions seeking hedging tools in volatile environments. The convergence of centralized, regulated platforms with growing crypto integration suggests a hybrid path where compliance and innovation go hand in hand.

For readers tracking the ecosystem, several questions remain pivotal. How quickly regulators will clarify the status of event-based contracts across jurisdictions, and whether other traditional financial players will participate in this space, will shape Kalshi’s path. The crypto push also raises questions about how Kalshi will balance compliance with rapid product expansion across both fiat and crypto rails.

Looking ahead, watchers will evaluate regulatory filings, potential settlements, and the cadence of new product launches that could broaden access to prediction markets. The next set of developments—ranging from policy guidance to potential integrations with major crypto platforms—will help determine whether Kalshi’s ambitious roadmap translates into durable, institution-friendly growth or if regulatory friction slows progress.

Breadcrumbs analyst James Delmore presented a live breakdown of crypto PAC spending at the Consensus Miami 2026 Policy Summit on Thursday.

James Delmore, a research analyst at Breadcrumbs who has tracked crypto industry political spending since the 2024 cycle, took the Consensus Miami 2026 Policy Summit stage on Thursday to lay out where the money is going heading into November. The session arrived as the crypto industry sits on more political capital, literally, than at any previous point in its history.

The industry has committed over $288 million to the 2026 midterm cycle, according to available FEC data, more than double the roughly $130 million spent across the entire 2024 election.

Fairshake, the industry’s flagship super PAC backed by Coinbase, Ripple, and Andreessen Horowitz, holds approximately $221 million in unspent funds, making it the fifth most-funded PAC in the country.

Where the money is going

As crypto.news reported, a Fairshake-aligned group spent $514,000 in Indiana supporting Representative James Baird in his primary race. Fairshake and affiliated groups had already spent nearly $30 million on 2026 races by the end of March.

Earlier, Fairshake deployed $10.3 million opposing Illinois Lieutenant Governor Juliana Stratton in a Senate primary, mirroring a similar $10 million attack on Katie Porter in the 2024 California Senate primary.

The political context surrounding the session is defined by the CLARITY Act, which must reach the Senate floor before the August recess or risk losing its legislative window entirely.

As crypto.news noted, Ripple, Coinbase, and Andreessen Horowitz are among the largest backers of the spending push, collectively aiming to ensure the 120th Congress is the most pro-crypto session in U.S. history.

Amazon Web Services (AWS) rolled out a new payments infrastructure for AI agents on Thursday which is built in partnership with Coinbase and Stripe.

AWS explained that autonomous software agents will be allowed to buy APIs, web content, MCP servers and other online services in real time using stablecoins. It added, however, that future versions would eventually support larger purchases such as hotel bookings, travel reservations and merchant payments.

“Amazon Bedrock AgentCore Payments” is designed for AWS described as the emerging “agentic economy”, where AI agents transact independently inside a single execution loop.

The first version of the system focuses on micropayments, allowing agents to instantly pay for APIs, data feeds, paywalled content and other digital services, often for fractions of a cent, AWS said.

Bedrock is built on Coinbase’s x402, the HTTP-native payment protocol for powering agent-to-agent transactions with stablecoins, while Stripe’s Privy wallet is being used as a payment connection.

“There will soon be more AI agents transacting than humans, and they need money that’s built for the internet – programmable, always on, and global,” said Brian Foster, Coinbase’s head of infrastructure growth.

Foster’s words echo those of Coinbase founder Brian Armstrong, Binance founder Changpeng Zhao and of Cardano Founder Charles Hoskinson, who agree that shortly all activity on the internet will be conducted by AI agents.

Stripe said this roll-out is part of a broader push to build financial infrastructure for autonomous AI commerce. “For agents to become meaningful economic actors, they need a way to hold and spend money,” said Henri Stern, CEO of Privy, a Stripe company.

AWS added that the platform is protocol-agnostic, though x402 is the first supported standard at launch. The broader goal is to create infrastructure for autonomous software agents capable of completing commercial transactions on behalf of users.

Warner Bros. Discovery, which is already testing Amazon’s Bedrock AgentCore, said it sees potential for agent-driven transactions involving premium content, including live sports and major entertainment releases.

MIAMI BEACH, Fl. — Donald Trump Jr. denied online rumors that WLFI$0.07296, the crypto platform tied to the Trump family, is unraveling amid a growing legal battle with Tron founder Justin Sun.

Speaking at Consensus in Miami on Thursday, Trump Jr. and WLFI co-founder and CEO Zach Witkoff pushed back against speculation circulating on social media about the company’s leadership, reserves and business operations.

“Just because they say it doesn’t mean it’s true,” Trump Jr. said about reports in the media. “Narratives get created. They’re driven, and they’re bot-farm based.”

The comments came days after World Liberty filed a defamation lawsuit against Sun in Florida state court. The suit alleges Sun engaged in “gross misconduct” tied to WLFI token purchases and used influencers and bots to spread false claims about the company.

Sun had previously sued WLFI in California federal court, claiming the company unfairly froze his WLFI tokens.

At the Miami event, Witkoff addressed rumors that Trump family members had distanced themselves from the project after WLFI removed a team page from its website.

“I think I saw on Twitter at one point that, you know, Don and Eric had abandoned the project,” Witkoff said. Trump Jr. dismissed the speculation.

“It was news for me too,” he said. “They changed the website design for a few minutes and, oh my God, they’re bailing on it.”

The executives also defended the company’s stablecoin, USD1, against criticism online. Witkoff said the token has “real-time proof of reserves” through a partnership with Chainlink LINK$9.9008 and claimed users can verify reserves directly onchain.

Trump Jr. accused critics and some media outlets of intentionally spreading misleading narratives about WLFI.

Witkoff also defended the lawsuit against Sun, saying the company would not have filed the case without evidence.

“We wouldn’t have filed that lawsuit if we didn’t have the receipts,” he said.

The Florida lawsuit seeks damages and retractions from Sun over statements WLFI claims harmed the company and its business opportunities. World Liberty Financial is being represented by the top defamation law firm, Clare Locke LLP.

A group of activist investors (or treasury “raiders,” depending on who you ask) are proposing a treasury redemption program for GNO tokenholders.

Should proposal GIP-150, which calls for “a one-time, opt-in pro-rata treasury redemption,” pass, those in favor would receive a share of the over $220 million held by the “well-capitalized” treasury.

This move comes less than six months after Gnosis DAO voted to fire its former treasury manager KPK.

The proposal’s author, who goes by Wismerhill, argues that GNO trades at a “persistent and widening discount” to the value of the Gnosis DAO treasury.

Despite $22.5 million of recent DAO funding to Gnosis Ltd, this “discount to NAV has widened” and value accrual to GNO has been “minimal,” they add.

Voting is currently underway and runs until May 12. Despite a significant early lead for those voting in favor, 65% of the 330,000 votes cast are currently against the proposal.

Read more: DeFi gets leaner: Gnosis fires treasury manager with 88% backing

Pro-rata calculations would be based on 1.3 million eligible GNO tokens, excluding tokens held by Gnosis Ltd, which the proposal argues “already operates with DAO funding.”

This would produce a redemption value of approximately $170 per token, almost 30% above GNO’s current market price of $131.

DeFi commentator and GNO holder Ignas admits, “the RFV logic has a point” but also points out that “this is pure arbitrage trade, not some moral mission.” They voted against the proposal.

Ethereum Foundation DeFi coordinator “ivangbi” agrees that if GNO isn’t advertised as having its “bottom price line protected by the assets,” holders have no “moral” right to the treasury.

Given Gnosis’s contributions to the ecosystem, including Safe, CoW Swap, Gnosis Pay and Gnosis Chain, others were less understanding.

Gnosis’ Sebastian Bürgel questioned when “the most respected builder in the space” transitioned to a “hedge fund,” while Jito’s Nick Almond dismissed the proposal as a clear “treasury rug.” 

Anthony Leutenegger, of Aragon (the same group targeted in 2023), shows more nuance, urging for improvements in “programmatic token holder rights… [as] a powerful tool for incentive alignment.”

Previous RFV plays

The group made a series of similar plays in 2023, earning the moniker “RFV (risk-free value) Raiders,” which it rejects.

Amongst the projects targeted at the time were Rook, FEI/Tribe and Aragon, which was ultimately forced to repurpose the DAO treasury into a grants program.

Key Takeaways

• AMD delivered $10.3B in Q1 2026 sales, with data center operations emerging as the dominant revenue source
• The company’s 2025 fiscal year set records with $34.6B in total revenue and $16.6B from data center operations
• Qualcomm generated $10.6B in Q2 2026, though smartphone chips contributed $6.93B of that figure
• Qualcomm’s expansion into automotive ($959M) and IoT sectors ($1.58B) continues, yet mobile devices remain its core business
• Analyst sentiment favors AMD with a $385.86 price target compared to Qualcomm’s $172.40 average forecast

Two semiconductor powerhouses are presenting contrasting investment narratives as 2026 unfolds. While one company capitalizes on explosive data center demand, the other struggles to shake its smartphone-centric reputation.

Advanced Micro Devices announced first-quarter 2026 revenues of $10.3 billion. The company achieved a 53% gross margin alongside $1.5 billion in operating profit and $1.4 billion in net earnings.

Advanced Micro Devices, Inc., AMD

Executives highlighted data center operations as the primary catalyst for expansion. Enterprise adoption of AI inferencing capabilities and agentic AI frameworks continues driving demand for both processors and accelerators.

This strong performance followed an exceptional 2025. AMD achieved all-time high annual revenue of $34.6 billion, with data center sales alone contributing $16.6 billion. Annual operating profit reached $3.7 billion.

While AMD continues serving PC, gaming, and embedded sectors, investor attention has decisively pivoted toward server infrastructure and artificial intelligence computing.

Server Infrastructure Drives AMD Forward

MarketBeat analysts assign AMD a Moderate Buy rating, supported by 30 Buy recommendations and 2 Strong Buy assessments. The consensus price target stands at $385.86.

The investment thesis is clear-cut. AMD continues capturing market share from major cloud platforms and enterprises deploying substantial AI capital. However, elevated expectations and fierce competition in high-performance AI computing present notable headwinds.

Qualcomm’s recent financial results paint a contrasting picture. The chipmaker posted fiscal Q2 2026 revenue of $10.6 billion with non-GAAP diluted earnings per share of $2.65.

Handset processors generated $6.93 billion of quarterly revenue. Automotive chip sales reached $959 million, while IoT products contributed $1.58 billion.

Qualcomm Seeks Revenue Diversification

Qualcomm has achieved meaningful traction beyond mobile devices. The company is expanding presence in automotive semiconductors, AI-enabled PCs, edge computing platforms, and industrial applications.

QUALCOMM Incorporated, QCOM

Yet smartphone chips continue representing the majority of revenue. Consequently, markets are not valuing Qualcomm as an AI infrastructure play comparable to AMD.

Reuters coverage indicated Qualcomm’s forward guidance fell short of investor expectations, despite management commentary suggesting supply chain constraints were moderating. Market sentiment remains closely linked to handset market cycles.

MarketBeat data shows 28 analysts following Qualcomm with a consensus price target of $172.40. Recent trading activity placed shares near $206.06, exceeding the average analyst forecast.

Qualcomm maintains a Moderate Buy consensus, though the outlook appears less unified than AMD’s.

The valuation divergence between these semiconductor companies reflects narrative clarity. AMD maintains direct exposure to AI infrastructure capital expenditure. Qualcomm possesses diversification potential but must demonstrate emerging business segments can meaningfully reduce smartphone dependency.

Qualcomm’s automotive segment generated $959 million in the latest reporting period, while IoT operations produced $1.58 billion, representing the most current available data.