Stock Movers Coinbase Pops; Major Chip Stocks Slide; Rumble Pushes Higher
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Aug 11, 2025 Cryptocurrency stocks are booming, with Coinbase riding a wave of optimism as Bitcoin approaches record highs. However, tech giants Nvidia and AMD are feeling the pinch, hampered by a hefty revenue-sharing deal with the U.S. government on AI chip sales. Meanwhile, Rumble is making waves by announcing its interest in acquiring the AI firm Northern Data, which sees its shares plummet as Rumble's soar. Additionally, Monday.com posts positive news but still grapples with disappointing future guidance, creating a mixed bag for investors.
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Bitcoin Nears Record; Crypto Stocks Rally
- Bitcoin climbed toward its all-time high, lifting Coinbase and other crypto stocks in premarket trading.
- Tom Keene highlights Coinbase up about 5% and miners like Riot and MicroStrategy also rallied.
Chipmakers Reportedly Face 15% Cut
- Sources say NVIDIA and AMD agreed to pay 15% of Chinese AI chip sales to the U.S.
- Tom Keene says shares fell as markets digested the export-license payment report.
Rumble's Northern Data Bid And Tether Link
- Rumble considers a $1.2 billion all-stock offer for Northern Data, sending RUM up as much as 15% in premarket trading.
- Tom Keene notes the deal ties to Tether, Northern Data's biggest shareholder.