- Nvidia to dig deeper into Artificial Intelligence processors.
- AI cryptocurrencies have surged over 24 hours.
- The global crypto market seems to be recovering from earlier losses.
Nvidia faces competition but remains unhindered by confirming its commitment to Artificial Intelligence processors. This is one of the factors that has brought a significant bull run for AI cryptocurrencies, with some of the top tokens leading the charge. Overall, the crypto market seems to be recovering from earlier downtrends as the market cap is up and FGI has shifted upward slightly.
Nvidia and Artificial Intelligence Processors
Nvidia is reportedly taking a deeper dive into Artificial Intelligence processors. This has brought out its above-market-estimates forecasts for the ongoing quarter. As for its Wednesday rollout, the chip-maker posted better results for the January quarter despite a flat stock performance.
For now, Nvidia CEO Jensen Huang has expressed the company’s commitment to keep building the AI infrastructure.
A major concern, however, is around how much shareholders get back from the projected cash generation of around $100 billion. The concern stems from the flat stock price, which last closed at $195.56, up by 1.41%. It has gained 0.59% during overnight hours to $196.73. Another concern is around the supply of chips – Nvidia has clarified having sufficient inventory per the demand.
AI Cryptocurrencies Surge
The impact has been more than evident on the prices of AI cryptocurrencies. TAO surged by 7.12%. Other top tokens jumped more significantly. For instance, NEAR gained 15.74% during the last 24 hours. While the AI crypto continues to trade in red over a month-time, an uptick marks a recovery at the time of global uncertainty.
ICP and FIL each gained 10.54% and 11.80%, respectively, during the same timeline. Some of the top gainers, at the time of writing this article, are RVV, BDP, and WARD. They have added 51.72%, 48.38%, and 44.47% to their respective values.
The growth of AI cryptocurrencies is also reportedly attributed to a blend with traditional AI and the structural evolution, along with the concept of smart blockchains.
Recovery for Cryptocurrencies in General
The crypto market seems to be recovering from recent downtrends, given that the market cap is up by 4.71% and the FGI has shifted upwards to 16 points. The CMC20 Index has also jumped by 5.60%. Growth of BTC has been overshadowed by ETH as Ether is up by 9.03% while Bitcoin tokens have only gained 4.82% in a single day.
It is important to understand that the content of this article is neither advice nor a recommendation – do thorough research and risk assessment before crypto investments.
Highlighted Crypto News Today:
ETHZilla Shares Jump Following Rebrand to Forum Markets
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
VeChain Demonstrates Blockchain Benefits With 5.2M Wallets Earning Weekly Rewards
VeChain’s VeBetter DAO has verified 48 million actions on more than 50 apps, and 5.2M wallets can now earn B3TR every week.
VeChain’s B3TR guide details app rewards, Vote2Earn, and GM NFT incentives tied to verified onchain sustainability actions.
VeChain has presented fresh data from its Ve
CryptoNewsFlash3h ago
U.S. stock futures for crypto-related stocks slightly decline, BMNR drops 0.44%
U.S. stock futures for crypto concept stocks slightly declined, with BMNR down 0.44% and SBET down 1.01%. CRCL slightly increased by 0.25%, while COIN fell by 0.15%. msx.com is a decentralized RWA trading platform that has launched multiple tokens.
GateNews3h ago
Millions Quietly Gear Up for Pi Network's Big Leap
More users are still preparing to the Pi Network global vision as they approach more adoption. New updates regarding the migration progress and ecosystem expansion throughout the network boosted the level of community discussions.
Pi Network Global Vision gets a good Community Momentum
The Pi Net
Coinfomania3h ago
Solana on-chain Chinese meme coin "My Sword and Shield" 24-hour increase reaches 240%, market cap surpasses $6 million
In recent years, the Meme coin "My Sword and Shield" in the Solana ecosystem has increased in market capitalization from $1.8 million to $6.6 million, with a 24-hour increase of 240%. Currently, the market cap is $5.6 million, and the coin has been listed for only 6 days. On-chain traders bought in at low prices and are now making a profit of approximately $7,930. Meanwhile, the same-named Meme coin on the BSC chain has also risen by 57%. Investors should be aware of the high volatility and risks associated with Meme coins.
GateNews4h ago
The overall crypto market slightly declined, while the AI sector rose nearly 2% against the trend.
On March 6th, the cryptocurrency market experienced a slight decline overall, with Bitcoin falling below $72,000 and Ethereum dropping below $2,100. The AI sector performed notably well, with Siren rising 32.75% and Kite increasing 25.06%. Layer2, GameFi, CeFi, and DeFi also saw small gains.
GateNews4h ago
