Elon Musk Jokes About Bernie Sanders' Political Contributions, Namesake Meme Coin Surges Over 100%

On May 8, data from Bespoke Investment Group reveals U.S. GDP expanded at a 2.0% rate in Q1 2026. Software and IT equipment investment contributed 134 basis points to growth—67% of the total—marking the highest share on record. This underscores AI as the primary driver of U.S. economic growth. The data also shows the 5-quarter moving average of contributions from software and IT equipment investment has recently surged sharply, topping the 1999 record by roughly 10 basis points.

May 8th — Financial Times reports Anthropic is weighing raising tens of billions of dollars this summer to fund a large-scale expansion of its computing capabilities, a move that would push its valuation to nearly $1 trillion and surpass rival OpenAI. Five people familiar with the matter say the developer of Claude was valued at $380 billion in February this year. As its revenue continues to climb, Anthropic has drawn interest from investors including Dragoneer, General Catalyst, and Lightspeed Venture Partners. These sources expect the firm’s annualized revenue—extrapolated from recent weeks to estimate annual performance—to exceed $45 billion, five times the $9 billion it reported at the end of last year. Three of those sources add the new funding round is expected to set Anthropic’s pre-money valuation at around $900 billion, with a fundraising target of up to $50 billion. The round is likely to close within two months, they note. OpenAI’s post-money valuation stood at $852 bi

May 8 — Pakistani sources report Iran is reviewing its response to the U.S.’s 14-point proposal, which seeks to formally end hostilities and open a 30-day negotiation window to discuss issues including Iran’s nuclear program, sanctions relief, and safe passage through the Strait of Hormuz. A Pakistani diplomatic source said Iranian officials are expected to issue an official response on May 8, with the U.S. awaiting Iran’s stance on key issues. Iran recently submitted a new proposal to the U.S. via Pakistani mediators, incorporating the 14-point plan. The proposal’s core points include a commitment to no further military aggression, U.S. military compensation, and establishing a new management mechanism for the Strait of Hormuz. On May 2, President Trump stated he would soon evaluate Iran’s new proposal but “could not imagine” it would be “acceptable.” (CCTV News)

On May 8, Coinbase suffered more than two hours of downtime, and its status page redirected users to AWS’s status page.

May 8 — Data from Farside Investors shows U.S. Bitcoin spot ETFs recorded a net outflow of $268.5 million yesterday, with IBIT posting a $98 million net outflow and FBTC $129 million. Ethereum ETFs saw a net outflow of $103.6 million total, including $26.3 million from ETHA and $62.3 million from FETH.

May 8th In April, a meme coin rally led by RAVE drew significant liquidity into the crypto market. In May, even as RAVE pulls back, liquidity continues to chase volatility plays in altcoins. Over the past two days, tokens like NIL and JTO have quietly surged to the top of gainer rankings: NIL doubled in a single day before a sharp pullback this morning. By contrast, JTO, RAY, DYDX, and ONDO have logged gradual, steady gains, with their valuations gradually rebounding. As of press time, 24-hour price moves include: NIL (+67.8%), JTO (+39.3%), DYDX (+32.4%), and STRK (+17.1%). BlockBeats observes that with Bitcoin trading in a tight range at elevated levels and market participants divided on its next directional move, established blue-chip projects are capitalizing on a narrow liquidity window to drive up prices. Project teams have a higher likelihood of stepping in to support valuations in this environment. However, if these projects fail to sustainably pass value through to