TLDR:

• Nvidia CEO’s foundation purchased $108.3M in CoreWeave computing time for university and nonprofit AI research.
• Nvidia offered free engineering services to select institutions receiving the CoreWeave computing grant donations.
• Nvidia invested $2 billion in CoreWeave in January, making it the company’s second-largest shareholder at the time.
• Nvidia’s $6.3B CoreWeave deal guarantees chip purchases of unsold cloud capacity, raising circular financing concerns.

The foundation of Nvidia CEO Jensen Huang and his wife, Lori, has purchased $108.3 million worth of computing time from CoreWeave.

The resources will be donated to universities and nonprofit institutions for science and artificial intelligence research.

Nvidia has also offered free engineering services to some grant recipients. The move adds to a growing list of financial ties between Nvidia and CoreWeave.

Huang Foundation Directs Computing Resources to Academic Institutions

A filing released Tuesday confirmed the donation, detailing how the computing time will support AI and science research.

According to the filing, the computing resources will be used for “science and artificial intelligence research.” The grant recipients include universities and other nonprofit organizations working on advanced research programs.

Nvidia stated in the filing that it plans to provide free engineering services to select institutions receiving the grant. The donation reflects Jensen Huang’s continued personal investment in expanding AI research infrastructure.

Beyond charitable giving, however, the move also channels more activity toward CoreWeave, a cloud provider specializing in AI workloads.

CoreWeave relies heavily on Nvidia’s graphics processing units, or GPUs, to serve its customers. The foundation’s purchase of CoreWeave computing time comes as Nvidia deepens its financial relationship with the company.

Reuters reported that in January, Nvidia invested $2 billion in CoreWeave, becoming the company’s second-largest shareholder at the time.

Nvidia’s Broader Financial Relationship With CoreWeave Draws Scrutiny

Nvidia signed a $6.3 billion cloud computing capacity deal with CoreWeave last year. Reuters noted the agreement guarantees that Nvidia “will purchase any cloud capacity not sold to customers.” That arrangement effectively made Nvidia a guaranteed buyer of CoreWeave’s unused computing resources.

CoreWeave raised the lower end of its capital spending forecast last week when it reported results. The company cited higher prices of components as the reason behind the updated forecast. That update came as investors continued to watch the financial ties between the two companies closely.

As Reuters reported, “The chip giant has drawn scrutiny for investing billions of dollars into AI firms including ChatGPT maker OpenAI and neoclouds.”

Investors have raised concerns about potential circular financing, where Nvidia’s capital flows back through companies that purchase its chips. Those concerns continue to grow alongside Nvidia’s expanding investment portfolio in the AI sector.

Digital asset infrastructure company BitGo reported a wider first-quarter net loss as Bitcoin treasury mark-to-market losses and IPO-related expenses outweighed stronger client growth and a year-over-year jump in revenue.

Revenue for the quarter ended March 31 was $3.8 billion, up from $1.8 billion a year earlier, driven by higher digital asset trading activity and growing contributions from its stablecoin business, the company announced Wednesday. Revenue fell 38.7% from Q4 2025’s $6.2 billion, partly due to a shift in client trading from spot to derivatives, a product BitGo launched at the start of the quarter that generated roughly $3 billion in notional volume.

However, net loss widened to $60.7 million from $25.7 million in Q1 2025, hit by a $53.7 million non-cash loss tied to the declining value of the company’s Bitcoin treasury, as well as stock-based compensation from its recent IPO. BitGo said stock compensation costs are expected to normalize going forward.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) swung to a loss of $1.7 million from a gain of $3.9 million a year ago, partly due to a $3 million in one-time legal and professional costs tied to the IPO.

Related: Circle to launch cirBTC wrapped Bitcoin, challenging BitGo and Coinbase

BitGo client base surges 42%

On the platform side, client count grew 42% year-over-year to 5,569. These are institutions like hedge funds, exchanges, fintech companies and other businesses that plug into BitGo’s infrastructure. Users on the platform also grew to 1.2 million, up 7.3% year-over-year.

BitGo KPIs. Source: BusinessWire

Stablecoin-as-a-service revenue jumped 43.6% to $38.2 million, while staking revenue dropped 66.2% to $49.4 million amid lower token prices.

BitGo ended the quarter with $186.6 million in cash and held 2,449 Bitcoin valued at approximately $167.1 million.

BTGO shares slipped 1.09% in overnight trading to $11.78 after the earnings release, according to Yahoo! Finance.

Related: BitGo launches portfolio-based crypto lending platform for institutions

Crypto companies post widening losses in Q1

A string of crypto companies reported deepening losses in the first quarter of 2026 amid the market decline. Coinbase swung to a $394.1 million net loss, missing revenue estimates of $1.5 billion with $1.41 billion. Exodus Movement more than doubled its losses to $32.1 million as revenue dropped 36.8% and active users slid.

Bitcoin miners, including Riot Platforms, Core Scientific, CleanSpark and TeraWulf, all posted widening losses in Q1 2026, with MARA topping the group at a $1.3 billion net loss, roughly $1 billion of which stemmed from non-cash mark-to-market adjustments on Bitcoin holdings.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026

Moody’s assigned its highest credit rating to tokenized money market funds from Fidelity and BlackRock, validating their safety as yield-bearing onchain products.

The AAA-mf rating signals an extremely strong ability to ensure high liquidity and capital preservation and the lowest level of risk.

Fidelity’s FILQ fund debuted on May 6. The product is powered by Swiss digital asset bank Sygnum’s Desygnate tokenization platform, which enables onchain fund registries, smart contract-based settlement and stablecoin subscriptions and redemptions.

It also includes infrastructure support from JPMorgan Chase for custody and fund administration, Apex Group for transfer agency services and Chainlink, which publishes the fund’s net asset value and distribution data onchain.

“There is no tokenized finance without tokenized liquidity. Once markets settle in real time, cash must settle in real time too,” Emma Pecenicic, head of digital assets distribution at Fidelity International, said in a statement.

BlackRock’s BUIDL, introduced in March 2024, is one of the largest tokenized Treasury funds in the world. The fund received a AAA rating yesterday, more than two years after its debut, according to a post on X by Securitize, its transfer agent and tokenization platform.

Money market funds deal in high-liquidity, short-term debt securities with maturities generally under one year, such as Treasury bills, commercial paper, and certificates of deposit. Investors use money market funds as a safe place to park cash while still earning some interest.

Tokenized U.S. government debt products, including Treasury bills, notes, bonds and money market funds, have rapidly gained traction among both traditional financial institutions and crypto-native firms.

The onchain tokenized Treasury sector now has total assets under management of over $15 billion, up from $1 billion in just two years, according to data source rwa.xyz. The growth is driven by demand for onchain versions of low-risk, yield-bearing instruments.

Key Highlights

• Bank of America elevated AKAM to Buy status, increasing the price target from $130 to $175
• Shares climbed 7.7% to reach $161.14, the highest level since March 2000
• An $1.8 billion seven-year contract — believed to be with Anthropic — is fueling optimism around AI infrastructure
• Shares have surged 57% in May alone and are up 86% year-to-date
• Cloud Infrastructure Services segment expanded 40% year-over-year, balancing a 7% drop in delivery operations

Akamai Technologies (AKAM) finished Wednesday’s trading session at $161.14, posting a 7.7% gain and reaching its strongest close since March 29, 2000.

Akamai Technologies, Inc., AKAM

The driving force: Bank of America analyst Tal Liani upgraded the stock to Buy and lifted his price objective from $130 to $175 — suggesting approximately 8% additional upside potential from Wednesday’s closing price.

This rating change follows Akamai’s announcement last week of an $1.8 billion, seven-year agreement with what the company described as a “leading frontier model provider” for its cloud infrastructure offerings. Bloomberg subsequently identified the customer as AI startup Anthropic, though neither party has officially confirmed this to Barron’s.

Liani noted in his report that “the story has shifted from a legacy delivery network to a credible AI infrastructure platform.” He views the contract as concrete proof of genuine demand for distributed AI capabilities, rather than mere speculation.

The analyst projects the agreement will generate $20–25 million in quarterly revenue beginning in the fourth quarter.

AKAM ranked among the S&P 500’s strongest performers Wednesday. The stock has now rallied 57% during May and 86% since the start of the year. Despite this impressive run, shares remain 51% below their all-time closing peak of $327.62 recorded on December 31, 1999.

AI-Driven Cloud Growth Underpins Positive Outlook

Bank of America highlighted the 40% year-over-year expansion in Akamai’s Cloud Infrastructure Services division as a primary rationale for the upgrade. This robust growth is being propelled by AI workloads and what Liani described as “edge inference use cases.”

The security services division also posted solid 11% year-over-year growth. Meanwhile, delivery services, representing the company’s traditional business, declined 7% — though analysts seem prepared to overlook this weakness for the time being.

Liani characterized the CIS segment as being “at an inflection point,” with momentum sufficient to drive accelerating annual profit expansion.

Morgan Stanley Maintains Optimistic Stance

Morgan Stanley analysts, who maintain an Overweight rating on AKAM, observed on Friday that the $1.8 billion contract eclipsed what was already a strong first-quarter earnings performance. Akamai exceeded Q1 expectations and increased the lower bound of its full-year earnings forecast.

This represents Akamai’s largest contract ever. Morgan Stanley analysts indicated it demonstrates the company is now “firmly entrenched in the AI narrative” — a perspective that has clearly resonated with the investment community.

Among 29 analysts tracked by FactSet, Akamai holds an average Overweight rating with a consensus price objective of $155.46.

GF Score metrics place Akamai at 88/100, with both profitability and growth scoring 9/10. Financial strength registers at 5/10, and the current P/E ratio of 53.83x substantially exceeds the historical median of 30.96x.

A cautionary note: company insiders have divested roughly $9.7 million worth of AKAM shares over the last three months, with zero insider purchases recorded. Bank of America acknowledged that risks persist, including uncertainties about the sustainability of CIS growth and Akamai’s long-term competitive positioning against hyperscale cloud providers.

As of Wednesday’s market close, AKAM’s market capitalization stood at approximately $23.24 billion.

US President Donald Trump is reportedly considering pardoning 250 people to commemorate the country’s 250th birthday on July 4, according to The Wall Street Journal.

An official announcement could come on June 14, Trump’s birthday, or during the Independence Day event on July 4, the WSJ reported Thursday, citing people familiar with the matter.

However, the pardons are still in the preliminary stages and have yet to be confirmed. More than 16,000 formal requests for presidential pardons were submitted last year. 

On his first day back in office last year, Trump issued more than 1,500 pardons to people involved with the storming of the US Capitol in 2021. Several jailed crypto founders and their supporters have been advocating for pardons from Trump since his inauguration.

Cointelegraph has contacted the White House for comment.

FTX, Samourai Wallet founders want pardons

FTX founder Sam Bankman-Fried was convicted on all seven counts connected to the collapse of the cryptocurrency exchange and was sentenced to 25 years in prison in 2024. He has waged a social media campaign in the hopes of getting a pardon, but Trump reportedly ruled it out earlier this year. 

Keonne Rodriguez, one of the developers behind the crypto-mixing protocol Samourai Wallet, has also publicly expressed hopes for a pardon. 

Trump said last December he would review Rodriguez’s case and explore a pardon. There is also a petition that has attracted 16,082 signatures as of Thursday.

Source: Keonne Rodriguez

Meanwhile, at least two petitions calling for a pardon for the Tornado Cash founders, Roman Storm and Roman Semenov, are currently live; however, they have only 22 and 9 signatures, respectively. Storm has not publicly asked for a pardon. 

Storm was convicted last August on charges of conspiring to operate an unlicensed money transmitting business and is still facing charges of money laundering and sanctions violation conspiracy. Semenov is considered on the run and is wanted by the FBI.

The case against Rodriguez and Storm has been closely followed by crypto advocates, many of whom argue they shouldn’t be held responsible for the actions of third parties using their software. 

Some crypto pardons already granted

Several crypto founders have already received pardons during Trump’s second term as president. 

Last year, the White House pardoned the co-founders of crypto exchange BitMEX: Arthur Hayes, Benjamin Delo and Samuel Reed, who all pleaded guilty to failing to maintain anti-money laundering and know-your-customer programs in violation of the Bank Secrecy Act.

Related: US CLARITY Act sees ‘big step forward’ as markup set for May 14 

Binance founder Changpeng “CZ” Zhao was also pardoned in 2025. He already served a four-month prison sentence after pleading guilty to one count of violating the US Bank Secrecy Act for failing to maintain an effective anti-money laundering program at Binance.

Silk Road founder Ross Ulbricht was one of the first to receive a pardon from Trump in January 2025 for his life sentence in connection with his operation of the dark web marketplace.

Magazine: eToro founder timed Bitcoin top perfectly due to belief in 4 year cycles

TLDR

• Micron saw nearly $100 billion wiped from its valuation at Tuesday’s session low before aggressive buying pressure returned.
• Shares tested the $700 support zone before reversing course, creating a bullish candlestick formation that technical traders view as a dip-buying opportunity.
• The semiconductor sector broadly recovered alongside Micron, with the PHLX Semiconductor Index advancing and peers including Nvidia, Texas Instruments, and ON Semiconductor posting gains.
• The memory chip giant is positioned to breach a $900 billion market capitalization for the first time, potentially ranking it as the 11th-largest U.S. corporation.
• Days before the dramatic price action, a Micron director offloaded more than $1.57 million worth of shares in transactions dated May 11.

Micron Technology (MU) stock flirted with technical breakdown territory on Tuesday before an aggressive wave of buying interest transformed what appeared to be a rout into a textbook example of market strength.

Micron Technology, Inc., MU

During the session’s nadir, Micron witnessed approximately $100 billion evaporate from its market capitalization. Shares plunged toward the $700 threshold before bargain hunters emerged with sufficient conviction to generate an extended lower shadow on the daily candlestick—a technical formation that chart watchers generally interpret as price rejection at lower levels. Current trading data shows the stock hovering near $804.

The trading day began on shaky footing. Monday’s price action had produced an “evening star” candlestick configuration after MU failed to sustain momentum above $800—a development frequently interpreted as a bearish reversal signal following sustained upward movement. Tuesday’s early weakness appeared to validate that cautionary indicator.

However, the narrative took an unexpected turn.

Samsung Labor Tensions Provide Support

Among the factors sustaining buyer enthusiasm was an escalating situation at Samsung (SSNLF). Labor tensions sparked concerns about a potential 18-day work stoppage that could compromise chip manufacturing operations, potentially constraining memory supply during a period when AI applications are already straining available inventory.

This fundamental backdrop provided market participants with justification to overlook near-term technical deterioration and maintain their positions.

Micron’s recovery didn’t occur in isolation. The PHLX Semiconductor Index advanced 2.38%, while numerous major semiconductor stocks participated in the rebound. ON Semiconductor skyrocketed 11.14%, Texas Instruments gained 3.78%, Analog Devices rose 3.04%, and Nvidia increased 2.29%. Broadcom represented the primary exception, declining 0.60%.

For MU bulls, the critical question now centers on whether the $700 zone can function as reliable support. Should it hold, Tuesday’s session may ultimately be characterized as a technical shakeout rather than the initiation of a meaningful downtrend.

Historic Valuation Threshold Approaches

The figures surrounding Micron’s market capitalization command attention at this juncture. With shares advancing 4.83% during the session, Micron is positioned to close above a $900 billion valuation for the first time in company history, according to Dow Jones Market Data.

Achieving this milestone would establish it as the 11th-largest U.S. corporation by market capitalization. For perspective, pharmaceutical powerhouse Eli Lilly currently commands approximately $944 billion—Micron continues narrowing that differential. The stock requires a close at or above $798.06 to reach the threshold.

Within the analyst community, sentiment remains predominantly constructive. MU holds a Strong Buy consensus rating derived from 27 Buy recommendations, 3 Hold ratings, and zero Sell ratings issued over the preceding three months. The consensus price target stands at $608.33, which paradoxically suggests potential downside from present levels—a testament to how rapidly the stock has appreciated.

On May 11, mere days preceding Tuesday’s volatile trading, director Steven J. Gomo executed sales of 2,000 MU shares across two separate transactions at weighted average prices of $786.47 and $787.60, generating total proceeds of $1,574,070. Following these dispositions, he maintains direct ownership of 17,139 shares, according to a Form 4 disclosure filed with the SEC.