MEGA Sets Aside $30 Million as MegaETH TVL Falls

Key Takeaways

• MEGA cut 20% of staff and set aside $30 million for new products, with an AI inference marketplace planned for December 2026.
• MegaETH total value locked fell from a peak above $245 million in May 2026 to about $12 million or less in recent readings.
• Reports say Nvidia CEO Jensen Huang is leaving after leading the company since 1993; his exit raises questions about Nvidia’s leadership and US AI policy.
• Marvell and other Nvidia partners are reviewing project schedules; Marvell’s coming update is expected to cover Nvidia-related AI connectivity work and its FY27/FY28 outlook.
• Baird cut Nvidia’s price target from $500 to $200 and downgraded the stock to Neutral; Solana saw about $84 million in tokenized Nvidia-stock trading.
• Cloudflare open-sourced Kitesurf, an AI-agent browser engine for Workers; it requires a Paid plan and is still in heavy development.
• Snowflake introduced AI agent and automation updates, while its shares showed mixed recent performance and investors weighed execution risks.
• Marriott, Hyatt, Hilton and IHG use AI in areas including sales, guest services, pricing and inventory management; transparency and fairness remain concerns.
• Parents of a Mandeville student say AI was used to create explicit images from their daughter’s photo, prompting them to speak out about its emotional impact.
• The electronics assembly market is forecast to reach $4.038 trillion by 2030, with cloud and AI infrastructure expected to account for nearly 62% of growth and semiconductor-related assembly rising from $781 billion to about $2.07 trillion.

MEGA cuts 20% of staff and targets AI inference

MEGA, formerly known as the MegaETH Foundation, cut 20% of its staff during a restructuring and is shifting toward building its own products. The cuts mainly affected workers in chain development, wallet development and ecosystem support, while the founders and core engineering team remain. MEGA set aside $30 million from its treasury for new products, starting with a public AI inference marketplace planned for December 2026. The group says it wants to use MegaETH technology to make inference services more competitive and transparent. MegaETH’s total value locked fell from a peak above $245 million in May 2026 to about $12 million or less in recent readings.

MEGA confirms 20% staff cut as it moves into AI products

MEGA disclosed that it cut 20% of its staff as it shifts toward AI products. Departing employees worked on the chain, wallet and ecosystem. The announcement came three days after MEGA pledged $30 million for new products.

MEGA cuts 20% of workforce to focus on AI products

MEGA is cutting 20% of its workforce as part of a restructuring following its rebrand from the MegaETH Foundation. The company committed $30 million to new products, including AI inference, as it expands beyond its blockchain focus. Founders, early employees and the core engineering team remain with the project. MEGA co-founder Shuyao Kong said the company believes cryptography and distributed systems can change how people produce and access “purified intelligence.” The MEGA token launched in April, with 53.3% of its supply tied to KPI-based staking rewards, and was trading at about $0.045 at publication, up roughly 7.5% over 30 days.

MEGA cuts 20% of staff after pledging $30 million for AI products

MEGA cut 20% of its workforce after months of restructuring and days after adopting its new name and pledging $30 million for new products. The cuts did not include the founders, early employees or core engineering team, and the company did not disclose how many people were affected. Its planned AI inference marketplace aims to let customers compare services from more providers, while the company’s “Purified Intelligence” approach would make inference interchangeable across providers. Details about providers and models are being held until launch, and MEGA says its new products will run on MegaETH with planned network upgrades supporting inference. The company previously closed its Mega Mafia program, and projects including Global Token Exchange, Noise and HelloTrade chose other chains, while Cap launched on MegaETH with a multichain strategy.

Nvidia CEO Jensen Huang’s exit raises questions about US AI strategy

Jensen Huang is stepping down as Nvidia’s CEO after leading the company for 33 years, at a time when the United States is working to maintain its AI advantage over China. The article says a scandal, including a report suggesting a second affair, prompted his resignation, though Nvidia said Huang did not threaten US national security and opened its own investigation. Huang co-founded Nvidia in 1993 and had supported expanding data centers and computing infrastructure to advance AI. His departure raises questions about Nvidia’s future relationship with Washington and who will shape US chip-export policy, AI regulation and strategy in its competition with China.

Jensen Huang’s Reported Exit Raises Questions About Nvidia’s Future

The article says Nvidia CEO Jensen Huang has announced his immediate departure after leading the company since 1993. Under his leadership, Nvidia grew into a major AI and deep learning company, with GPUs and software used in areas such as autonomous vehicles and medical imaging. His exit raises questions about Nvidia’s leadership, its ability to compete in AI, and America’s AI security. The article says Nvidia’s stock remained relatively stable and that the company planned a conference call, but its date and time were left blank.

Jensen Huang’s Departure Could Test the AI Boom He Helped Build

Jensen Huang, Nvidia’s former CEO, built a wide network of investments and partnerships that helped drive the AI boom. His departure could show how vulnerable that network is. The article focuses on what may happen to the AI industry after his exit.

Cloudflare Releases Open Source Kitesurf Browser Engine for AI Agents

Cloudflare has made Kitesurf, a browser engine for AI agents, open source. It runs on Workers without a browser container and can parse HTML, apply CSS, run JavaScript, and create screenshots through Chrome DevTools Protocol. Its technologies include Blitz for DOM and layout, Stylo for CSS, and Boa for JavaScript in WebAssembly. Kitesurf needs a Workers Paid plan, and Cloudflare says it is still in heavy development, with Chromium currently handling more unusual websites correctly.

Snowflake’s AI Product Push Puts Its Valuation in Focus

Snowflake has introduced AI agent and automation tools, including upgraded CoCo and CoWork assistants, stronger governance, and real-time data streaming. The news comes after a mixed period for its shares: they rose 10.82% over seven days but fell 16.51% over 30 days. The year-to-date share price return was 37.83%, while its three-year total shareholder return was 85.56%. Snowflake trades at a large discount to analyst targets, leading investors to weigh execution risks against the company’s long-term potential.

Hotel Companies Use AI to Improve Sales and Guest Services

Hotel companies are using AI to support sales, revenue management, and guest services. Marriott International uses predictive analytics and machine learning to help sales teams find business opportunities, while Hyatt Hotels Corporation offers an AI chatbot with answers and personalized recommendations. Hilton Worldwide uses AI across the guest journey, and InterContinental Hotels Group uses it for sales, pricing, and inventory management. The article also warns that hotels need to make AI systems transparent and fair so they can avoid unexplained decisions and bias.

Mandeville parents say AI turned daughter’s photos into explicit images

The parents of a Mandeville High School student say someone used artificial intelligence to alter their daughter’s photo into sexually explicit images. They asked WDSU to hide their identities because they fear retaliation. They spoke out to raise awareness after seeing the emotional toll the incident had on their daughter.

Nvidia leadership turmoil raises questions for Marvell’s AI projects

Marvell Technology is facing new uncertainty after Nvidia disclosed a leadership crisis, with several senior executives stepping back from daily duties. Suppliers and partners, including Marvell, are reviewing project schedules and contract plans. Nvidia’s challenges could affect the timing and design of AI hardware projects that use Marvell’s data infrastructure chips. The article says Marvell’s next detailed update should address its proposed Lumentum acquisition and Nvidia related AI connectivity work, as well as whether its FY27 and FY28 revenue and non GAAP margin guidance remains unchanged.

Cloud and AI infrastructure may drive most electronics growth by 2030

The Global Electronics Association forecasts that the worldwide electronics assembly market will grow from $2.125 trillion in 2025 to $4.038 trillion by 2030. Cloud and AI infrastructure, mainly servers and enterprise storage, is expected to account for about $1.19 trillion of that increase and nearly 62% of total growth. Semiconductor related assembly value is forecast to rise from $781 billion to about $2.07 trillion. The report also expects materials and components to reach 76.2% of assembly value by 2030 and manufacturing and other value added activities to reach $962.8 billion. Annual market growth is projected to peak at 27.5% in 2026 and slow to 4.1% by 2030.

Baird cuts Nvidia price target as Solana leads tokenized stock trading

Investment firm Baird downgraded Nvidia to Neutral and cut its price target from $500 to $200, citing concerns about the company’s valuation, AI spending and geopolitical tensions. Chinese AI companies are reportedly renting Nvidia chip capacity through overseas data centers and cloud providers to avoid possible limits on access to US technology. The article says this approach could face regulatory obstacles if US authorities increase scrutiny. Meanwhile, Solana recorded about $84 million in trading volume for tokenized Nvidia stock, more than all other blockchain networks combined. The article links the activity to growing interest in bringing traditional financial assets onto blockchain platforms.

Sources

• MEGA cuts 20% of staff and pivots toward AI inference products
• MEGA Discloses 20% Staff Cut Amid AI Product Push
• MEGA cuts workforce as crypto group shifts to AI products
• MEGA cuts 20% of staff after $30 million AI product push
• Jensen Huang’s Nvidia exit: Can a CEO scandal complicate America’s AI chip battle with China?
• Jensen Huang's Exit: What It Means For Nvidia And America's AI Security
• The AI boom was built around Jensen Huang. What happens now?
• Cloudflare made Kitesurf open source for agents
• Snowflake (SNOW) Tests Its Valuation After A Big AI Product Push
• Checking In on AI: Hotel Cos. Streamline Sales and Search
• Mandeville parents raise concerns after they say AI altered daughter's photos into explicit images
• Marvell Technology (MRVL) Faces New AI Ecosystem Uncertainty
• Cloud and AI to serve as primary future growth catalysts
• Nvidia Downgrade Highlights AI Chip Risks as Solana Dominates Tokenized NVDA Trading