Baird raised its price target for Nvidia ($NVDA) to a street-high of $500, citing market share gains and a projected $200B TAM opportunity for its Vera Rubin platform. Microsoft ($MSFT) is in talks to rent its Maia AI chips to Anthropic, while AMD ($AMD) announced a $10B investment in Taiwan to scale its "Venice" CPUs and MI450X GPUs. Walmart ($WMT) shares fell 7% following lowered guidance despite a revenue beat, and the U.S. government plans to award CHIPS Act funding to IBM, GlobalFoundries, D-Wave ($QBTS), Rigetti ($RGTI), and Infleqtion ($INFQ).