Kraken is in talks to acquire a 15% stake in Aave for $385 million, while BlackBerry shares jumped nearly 20% on strong earnings and a pivot to AI software. Crypto markets are largely down, with Tether's USDT surpassing ETH in market cap.
Bitdeer mined significantly more Bitcoin in May 2026 (921 BTC) compared to May 2025 (196 BTC), but ended May 2026 holding substantially fewer coins (171 BTC) than a year prior (1,351 BTC). This highlights the company's pivot towards AI infrastructure, where AI revenue may offset the need to sell mined Bitcoin.
Allbirds, formerly known for its sustainable footwear, has rebranded as Smartbird and sold its shoe business to focus entirely on artificial intelligence infrastructure. Nadia Carlsten, an AI industry veteran, is the new CEO. The company aims to provide enterprise-grade AI computing clusters, backed by expanded financing.
Syndicate Labs said it is winding down after five years as the market shifted away from its rollup infrastructure business, with consolidation around Base and Arbitrum and a shift toward subnets and existing infrastructure.
K Wave Media is shifting $485 million in funding from its Bitcoin treasury strategy towards an AI infrastructure play.
Intel shares jumped 20% in after-hours trading after reporting Q revenue of $13.58B against $12.3B estimates, with adjusted EPS of $0.29 vs $0.01 expected. The Data Centre and AI division generated $5.05B, up 22.4% YoY, driven by Xeon 6 processors and Gaudi 3 AI accelerators. The company issued Q2 guidance of $13.8-14.8B, above the $13B expected. The results follow a dramatic recovery from Intel's 2025 crisis when the Trump administration took a 9.9% equity stake worth $8.9B and the company cut 25% of its workforce.
Nvidia, now the world's most valuable company due to AI demand, is shifting away from its gaming roots. The chipmaker that nearly went bankrupt in 1999 before gamers saved it with purchases of its GeForce 256 GPU now earns nearly all revenue from AI products. With operating margins of 69% in AI compute versus 40% in gaming graphics, and facing severe DRAM shortages, Nvidia is prioritizing high-margin AI chips like Hopper and Blackwell. Analysts predict 2026 may be the first year in three decades without a new GeForce generation, sparking anger among the gaming community who feel betrayed.
