NAIROBI (CoinChapter.com) — AI token prices boom following Nvidia’s impressive fourth-quarter earnings results. The chipmaking giant’s significant revenue growth, particularly in its Data Center segment, highlights the increasing demand for AI-powered technologies. Tokens such as The Graph (GRT) and Fetch (FET) are seeing substantial gains.
Nvidia 2023 Fourth-Quarter
Nvidia reported record revenue of $22.1 billion, a remarkable 265% year-over-year increase. Nvidia’s Data Center business fueled its growth, with revenue soaring 409% year-over-year. AI inference now drives 40% of this revenue, highlighting the expanding role of AI across industries.
AI Crypto Sector Blooms
The ripple effects of Nvidia’s success extend to the cryptocurrency market, where AI-focused tokens thrive. The Graph (GRT), a crucial indexing protocol for blockchain data, experienced a 16% price jump in the past 24 hours and an impressive 53% gain over the week. Similarly, Fetch (FET), a platform for decentralized AI applications, has risen by 10% in the past day and 65% in the past week.
AI token prices surged.
Following Nvidia’s stellar performance, AI token prices surged, reflecting the market’s confidence in the sector’s growth prospects. According to Cryptoslate data, the overall market capitalization of AI tokens has risen to $17.98 billion. Investors rushed to capitalize on the momentum, increasing trading volumes and increasing prices.
“After Nvidia, $NVDA’s earnings, it is up 15%, hitting ATH!!! And you guessed it, so did Nancy Pelosi’s portfolio,” noted Unusual Whales in a post on X.
Nvidia’s robust earnings and the subsequent rally of AI tokens signal the profound economic impact of artificial intelligence. With industries ranging from healthcare to finance embracing AI solutions, the demand for AI-related infrastructure and services is poised to remain strong.
