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Cryptocurrencies were slightly higher Tuesday evening as investors waited for direction on the potential outcome of the U.S. presidential election.

The price of bitcoin was last higher by 2% at $69,105.03, according to Coin Metrics. Earlier, it rose as high as $70,522.84. It is currently 5% off its all-time high, after trading near it last week.

Stocks tied to the price of the cryptocurrency got a boost in earlier trading during regular stock market hours. Exchange operator Coinbase and MicroStrategy, which often trades as a high beta play on the price of bitcoin, advanced 4% and 2%, respectively.

Investors are expecting bitcoin trading to be choppy until a clear winner is declared. A victory for Vice President Kamala Harris is expected to bring risk of downside moves to the price of bitcoin, while traders anticipate a bump in price in the event of a win by former President Donald Trump.

“The election is having a massive influence on crypto,” said Ryan Rasmussen, head of research at Bitwise Asset Management. “Expect bitcoin – and crypto more broadly – to be choppy in the days ahead … until we have definitive election results.”

“If Trump wins, I believe we’ll see new all-time highs,” Rasmussen added. “If Harris wins, I expect a decent short-term sell-off, with prices taking a month or two to recover. But eventually, either way, I think we go higher.”

Bitcoin is widely expected to rise to a new record in coming weeks. In the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87%, 44% and 145% in the 90 days following election day, respectively. That’s in part because election years happen to fall on Bitcoin halving years, when the supply of the cryptocurrency ratchets downward. Post election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

Earlier Tuesday, bitcoin wavered around the $70,000 mark, after hitting that level last week for the first time since March and approaching its record of $73,797.68. At about $69,000, bitcoin has been trading at its fair value price, according to CryptoQuant. That means that if the election proves to be a positive catalyst in the coming days, bitcoin can rally and is poised to establish a new record, CryptoQuant analyst Julio Moreno said.

“For now, everyone we’ve spoken to is keeping their powder dry,” said James Davies, CEO at crypto futures and options trading platform Crypto Valley Exchange. “I’ve heard from numerous leading market makers and traders and can say with conviction that almost everyone is set up to react. They don’t even know which way markets will go based on [the] result. There’s likely to be massive short-term volatility whichever outcome.”

This year’s presidential election has been called the most important one in the crypto industry’s lifetime. Many view a Harris win as a threat to crypto, the extent to which has been debated throughout this election cycle. Trump, on the other hand, is seen by many as a force for good in the industry after he presented himself earlier this year as the pro-crypto candidate and has been courting the industry more directly than Harris has.

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Why Eaton’s CFO change isn’t a red flag — plus, Palo Alto’s buzzy new deal

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Why Eaton's CFO change isn't a red flag — plus, Palo Alto's buzzy new deal

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Google launches Nano Banana Pro, an updated AI image generator powered by Gemini 3

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Google launches Nano Banana Pro, an updated AI image generator powered by Gemini 3

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Google on Thursday rolled out Nano Banana Pro, its latest image editing and generation tool, continuing the company’s momentum after launching its new Gemini artificial intelligence model earlier this week.

The product is built on Gemini 3 Pro, which was announced on Tuesday and contributed to record-breaking stock highs.

Alphabet’s stock was up 4% Thursday.

Josh Woodward, vice president of Google Labs and Gemini, told CNBC’s Deirdre Bosa that the Nano Banana Pro’s capabilities expand beyond its original iteration, which launched in late August.

“It’s incredible at infographics. It can make slide decks. It can take up to 14 different images, or five different characters, and sort of keep that character consistency,” he said.

He added that internal users have experimented with the feature by inputting code snippets and even LinkedIn resumes to create infographics.

“I think this ability to visualize things that were previously maybe not something you would think of as a visual medium that tends to be one of the magic things people are finding with it,” Woodward said.

The original Nano Banana went viral on social media as users turned photos of themselves or their pets into hyperrealistic 3D figurines. Woodward wrote in an X post in September that the product helped add 13 million new users to the Gemini app in the span of four days.

Nano Banana Pro is currently available in the Gemini app, with limited free quotas, Google’s writing assistant, NotebookLM, as well as the company’s developer, enterprise and advertising products.

Google AI Pro and Ultra subscribers will have access to the product in Google’s search features AI Mode.

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The feature will later also roll out to Ultra subscribers first in Flow, Google’s AI filmmaking tool.

Google introduced another feature in the Gemini app that allows users to upload any image to find out if it was generated by Google AI.

Images generated on free Nano Banana accounts will have a watermark, but it will be removed for Google AI Ultra tier subscribers.

Google has been working to gain ground on OpenAI in the generative AI race, which ignited after the release of ChatGPT in 2022.

Last week, OpenAI announced two updates to its GPT-5 model to make it “warmer by default and more conversational” as well as ” more efficient and easier to understand in everyday use,” the company said.

ChatGPT currently tops the list of free apps on Apple’s App Store, with Gemini in the second spot.

The Gemini app currently has over 650 million monthly active users per month, and Gemini-powered AI Overviews has 2 billion monthly users, Google said in a release. OpenAI CEO Sam Altman said in October that ChatGPT had reached 800 million weekly active users.

Woodward said Google AI products have had growing demand, with many users signing up for Gemini’s subscription plan to have “higher limits with some of these advanced models.”

“We’re seeing high numbers of people coming to lots of these products,” he said. “That’s really the best problem to have, is there’s a lot of demand, and we’re trying to figure out actually how to serve it.”

The company is looking to continue scaling its AI offerings, Woodward said, highlighting Flow, Google’s AI filmmaking tool, and Genie, a “world building” model that is currently available as a limited research preview.

Gemini 3.0 and Google's custom AI chip edge

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U.S. greenlights AI chip exports to Gulf tech giants after Saudi Crown Prince’s Washington visit

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U.S. greenlights AI chip exports to Gulf tech giants after Saudi Crown Prince's Washington visit

U.S. President Donald Trump and Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia stand for a photo with Tesla CEO Elon Musk, Nvidia CEO Jensen Huang and other participants at the U.S.-Saudi Investment Forum at the Kennedy Center on Nov. 19, 2025 in Washington, DC.

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The U.S. has approved sales of advanced Nvidia chips to Saudi Arabia’s HUMAIN and the United Arab Emirates’ G42, authorizing the state-backed firms to buy up to 35,000 chips, worth an estimated $1 billion.

The approval of these chip exports marks a major reversal for the U.S., which had previously balked at the idea of direct exports to state-backed AI companies in the Gulf. Export controls were put into place to avoid advanced American technology making its way to China through the back door of Gulf Arab states.  

Before former President Joe Biden left office in January, he administered a final round of export restrictions on advanced AI chips, targeting companies like Nvidia, in a sweeping effort to keep that cutting-edge U.S. intellectual property out of China’s reach.

Now, President Donald Trump is moving to expand the reach of such advanced technology in order to “promote continued American AI dominance and global technological leadership,” the U.S. Commerce Department said in a statement published on Wednesday. 

The U.S. Commerce Department approved the chip exports, with the condition the state-backed AI outfits agree to “rigorous security and reporting requirements,” overseen by the Department of Commerce’s Bureau of Industry and Security.

Saudi’s Victory Lap

The export approval follows Saudi Crown Prince Mohammed bin Salman’s trip to Washington this week where the Kingdom pledged to spend $1 trillion in the U.S., up from $600 billion originally committed during Trump’s Gulf tour in May.

“Even if we don’t get to that, both sides have skin in the game,” Afshin Molavi, senior fellow at the Foreign Policy Institute of the Johns Hopkins University School of Advanced International Studies, told CNBC’s Dan Murphy.

Saudi pledges $1 trillion investment as dealmakers head to DC

Saudi Arabia’s AI company HUMAIN, backed by its nearly $1 trillion Public Investment Fund signed a long list of partnerships with Adobe, Qualcomm, AMD, Cisco, GlobalAI, Groq, Luma, and xAI at a U.S.-Saudi Investment Forum held in Washington, D.C this week. Notably, HUMAIN will be teaming up with Elon Musk’s xAI to build a 500 megawatt data center in the Kingdom.

“What we want to do in 2026 is to build the capacity equivalent to what Saudi has built in the last 20 years, in one year,” Tareq Amin, CEO of HUMAIN, said at the summit. HUMAIN is hoping to position Saudi Arabia as the third biggest global AI hub, after the likes of the U.S. and China.

Winning over the U.S. Commerce Department

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