All four Americas teams—NRG, 100 Thieves, G2 Esports, and LOUD—remain alive in the VALORANT Champions 2026 Shanghai playoffs double-elimination bracket following mixed quarterfinal results. Recent losses have dropped NRG and G2 into the lower bracket while 100 Thieves and LOUD hold upper-bracket positioning, yet schedule congestion and best-of-three volatility keep elimination risk evenly distributed across the group. LOUD’s strong recent form, including a win over NRG, has lowered its implied probability of exiting first, but head-to-head history and potential lower-bracket matchups among the others sustain the tight trader consensus around the remaining contenders.