Will Uber’s AI Doubts Pop the Bubble?

Chart of the Day — HYPE ETFs hit $100 million
Trade of the Day — Can BTC bounce here?
Alpha Leaks — Rumble's AI shake up
News Roundup — Robinhood goes agentic, SpaceX/Tesla rumors
Degen Play — The token offering physical robotics onchain

HYPE ETFs' Explosive Start

BTC and ETH ETFs have been experiencing outflows, but it’s a different story for the new spot HYPE ETFs, which have started in incredibly bullish fashion.

The latest chart from Farside Investors shows that the two HYPE ETFs currently operating–that’s THYP from 21Shares and BHYP from Bitwise–have taken in a combined total of more than $100 million across ten trading sessions, and keep in mind here that the HYPE market cap is $14.7 billion, making it a much smaller asset that BTC or ETH.

This comes while HYPE itself soared by 71% in the second half of May, hitting almost a $65 ATH, although price is now cooling off and is back in the mid-50s.

BTC For the Bounce?

As mentioned, there have been large outflows from the BTC ETFs, and the possibility of a further leg down for BTC looks real, as it remains below the 50-day EMA and hasn’t shown any of the bullishness that stocks are enjoying.

That said though, the recent price drop from the low 80Ks to around 73K now puts it close to the bottom of its current trading range, so there is the opportunity to open a long position from here, targeting a bounce from the bottom of the channel.

If that happens, then a full or partial Take Profit can be placed at the 50-day EMA, which may act as resistance, although if that level can be regained, then further upside within the channel is possible.

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Uber Unsure About AI

The AI buildout is not slowing down, but there are some prominent corporate voices of discontent emerging. Most recently, Uber CEO Andrew Macdonald stated in an interview that it was becoming tough to justify the trade offs required in order to maintain increased token consumption.

According to Macdonald, it’s difficult to draw a connection between increased AI use and improved customer products, and while AI can appear free to casual users, in the corporate world it’s a significant expense.

This comes soon after reports that Uber has already depleted its entire AI coding budget for 2026, and follows on from news that Microsoft is cancelling internal Claude Code licenses, amid speculation that cost reduction is a factor in this decision.

Robinhood Launches AI Agents

Robinhood has announced that it is introducing AI agent services for customers, with two products, Agentic Trading and Agentic Credit Card, set to debut soon.

The first of these, Agentic Trading, will allow users to connect agents through MCP architecture, after which agents will be able to act autonomously–but with authorization and a defined strategy–on the platform. Notably, users will need to fund a separate account for agentic activity, separating AI from their main portfolios.

Agentic Credit Card means that users will be able to authorize agents to make purchases using a Robinhood payment card, which again is separated and used specifically for agentic activity. In this case, users can instruct agents to search for items, and then have the agent complete transactions by itself within set price boundaries.

Will SpaceX Merge With Tesla?

With SpaceX and xAI having merged, there is now renewed speculation about the possibility of a merger between SpaceX and Tesla to create a single mega corporation taking in everything from self-driving cars to space exploration (with the platform formerly known as Twitter also thrown into the brew).

This possibility was reported by CNBC this week, which cited an anonymous Tesla employee as explaining that internal worker discussion about a merger is common, while other unnamed sources claim that Elon Musk has discussed a merger with colleagues.

Tech sector analyst Dan Ives recently put the odds of a merger in 2027 at 80%, while over on Kalshi, Yes contracts on a SpaceX/Tesla merger by the end of April 2027 are trading at 61 cents.

XMAQUINA Offers Tokenized Robotics

XMAQUINA is a new crypto play built around real-world robotics assets. This one is far out in degen territory, meaning it's risky but has the potential for upside volatility.

In short, it’s a DAO holding a treasury of cash and pre-IPO robotics positions in names including Figure AI and Apptronik, while it’s also developing the Robotics Capital Markets protocol, aimed at making private robotics companies available for onchain trading, and generating fees for the DAO in the process.

The XMAQUINA token is called DEUS, it launched yesterday and is currently trading at a $23 million market cap and a $49 million FDV, so it’s at a significant premium to the $10 million treasury, but you’re also paying for the future potential of the tokenized robotics trading platform.

For more details check Virtuals Protocol, where you can connect a wallet and trade the token, but to emphasize again, this is a high risk trade.

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