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Nvidia (NVDA) Stock Slides 3% Amid Fresh U.S. Export Control Concerns

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NVDA Stock Card

Key Takeaways

  • NVDA closed down approximately 3% Friday at roughly $177.83, retreating from Thursday’s close of $183.34
  • New reports suggest Washington may implement stricter oversight requiring approval for most international AI chip exports
  • The chipmaker has reportedly paused H200 deliveries to China as it shifts TSMC manufacturing capacity to newer Rubin architecture
  • Fourth quarter results showed $68.13 billion in revenue — a 73.2% annual increase — surpassing Wall Street expectations
  • Wall Street analysts maintain bullish outlook with average price target of $273.64, supported by 47 Buy recommendations versus just 2 Hold ratings

NVIDIA (NVDA) experienced a roughly 3% decline Friday, hitting an intraday bottom at $176.82 before closing near $177.83. The previous session ended at $183.34. Trading volume reached approximately 187.4 million shares — running about 4% higher than typical daily activity.


NVDA Stock Card
NVIDIA Corporation, NVDA

The downward momentum stemmed primarily from emerging reports regarding possible new U.S. export control measures. Washington officials have allegedly prepared regulations requiring government clearance for virtually all international shipments of cutting-edge AI processors.

These proposed rules would implement tiered approval processes depending on order volume. Bulk orders exceeding 200,000 chips might necessitate foreign capital commitments to U.S. data infrastructure or enhanced security protocols, based on reporting from Bloomberg and Reuters.

The Commerce Department stated it wasn’t reverting to the Biden administration’s “AI diffusion” strategy, instead highlighting recent Middle Eastern chip agreements as the template for future arrangements.

However, those Middle Eastern transactions weren’t without complications. Washington greenlit sales of up to 70,000 advanced processors to entities in the UAE and Saudi Arabia — but only following extended delays linked to investment negotiations and national security reviews.

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This precedent suggests potential bottlenecks if comparable vetting procedures become standard worldwide.

Chinese Market Complications Weigh on Sentiment

NVDA encountered additional headwinds from separate reports indicating suspended H200 processor deliveries to Chinese customers. This decision appears connected to reallocating TSMC production resources toward the upcoming Rubin generation rather than stemming from regulatory mandates.

Nevertheless, any curtailment of Chinese market access represents a short-term revenue challenge, prompting investor caution.

AMD (AMD) similarly retreated, declining roughly 3.52% during the same session. Both semiconductor giants have underperformed year-to-date as the AI sector momentum has moderated.

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Underlying Business Strength Remains Intact

The stock pullback occurred despite exceptionally robust earnings released just weeks prior. NVDA reported fourth quarter revenue of $68.13 billion, reflecting 73.2% year-over-year growth and exceeding the $65.56 billion consensus projection.

Earnings per share reached $1.62, topping the $1.54 Street estimate. Net profit margin stood at 55.60%, while return on equity achieved 97.37%.

Data center segment revenue set company records. In response, analysts have been upgrading price objectives, with Bank of America and Rosenblatt both establishing $300 targets. Deutsche Bank increased its forecast to $220.

Across 53 analysts, the consensus price objective stands at $273.64 — representing significant upside from current trading levels.

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CEO Jensen Huang recently noted that the company’s capital positions in OpenAI and Anthropic might be final investments before these firms pursue public offerings — indicating reduced future equity participation.

Institutional ownership remains robust. Norges Bank initiated a new holding valued at approximately $62.2 billion during Q4. J. Stern & Co. expanded its position by over 13,000%.

NVDA maintains a market capitalization of $4.32 trillion. The shares trade at a P/E ratio of 36.29 with a beta coefficient of 2.33.

The 50-day moving average registers at $186.02. The 200-day average sits at $183.87 — placing Friday’s closing price beneath both technical benchmarks.

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Crypto World

Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens

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Ethereum Price Prediction

Crypto analyst Ansem argues that Ethereum (ETH) is in a “worse spot” in 2026 than it was in 2023, pointing to a thesis he says has been eroding for years.

His bearish take drew rebuttals from some members of the community. Meanwhile, on-chain activity and technical indicators elsewhere on the network flash bullish signals.

Ansem Lists Cracks in the ETH Thesis

Ansem argues that Solana (SOL) has dominated retail activity this cycle. Hyperliquid has taken the lead in perpetual futures trading, while rollups have failed to gain traction.

He also noted that Vitalik Buterin “publicly abandoned” the general-use rollup thesis. The ongoing Aave (AAVE) situation around the KelpDAO rsETH exploit, Ansem said, is a mark on  Ethereum’s core value proposition of “safety + security of defi & insto interest.

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“ETH thesis has been weakening consistently for years,” the analyst wrote. ETH in 2026 is in a worse spot than it was in 2023, amplified by AI doing extremely well & tech stocks being much more favorable investments with real revenues / emerging narratives / increasing momentum, ETH is a $300B asset with a ton of overhang from Tom Lee topblasting + complacent ETH holders sitting idle in defi protocols.”

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Technically, the analyst noted that ETH remains in a sustained downtrend after failing to break multi-year resistance. He projected that the second-largest cryptocurrency could slip to 2025 lows near $1,300 and to the bear-market lows from 2022.

“Tight invalidation 2377 assuming problems worsen if you want to play it loose assuming other risk assets continues doing well & drags it up probably somewhere around 2700/2800 invalidation fundamentals wise would want to see breakout activity from some new vertical,” the post read.

Ethereum Price Prediction
Ethereum Price Prediction. Source: X/Ansem

Community Members Push Back

The take triggered notable pushback. Ryan Berckmans accused Ansem of not understanding fundamentals. Leo Lanza went further, sharply dismissing the analyst’s bearish case on X.

Another user pointed to a 56% drop in the SOL/ETH pair this cycle.

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“Soleth is down 56% after being up 12x+ *this cycle* because one guy decided to buy 5% of the eth supply after it had underperformed all cycle. idk why you guys act like i dont also bearpost solana i havent posted anything bullish about sol in over a year,” Ansem replied.

Not everyone shares the bearish view on Ethereum. BeInCrypto recently highlighted that network activity remains strong, while technical indicators like the Rainbow Chart and MACD are also flashing bullish signals.

With macro and geopolitical uncertainty still in play, the question is whether ETH slides further this year or stages a renewed rally.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

The post Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens appeared first on BeInCrypto.

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

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Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

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This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

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It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?