Synthetic Intelligence-focused cryptocurrencies — and shares — might be within the highlight subsequent week as Nvidia publishes its quarterly outcomes after the closing bell on Wednesday, Aug. 28.
Forward of the occasion, Akash Community (AKT) has risen by 10% up to now seven days. Equally, Bittensor (TAO), Render Token (RNDR), and Synthetic Superintelligence Alliance (FET) have each jumped by over 30% on this interval.
In response to CoinGecko, the market cap of all AI tokens rose by over 13.7% on Aug. 24 whereas the buying and selling quantity rose to $1.7 billion.
These beneficial properties got here on the heels of Federal Reserve’s Jerome Powell latest speech the place he hinted that rates of interest might be lower in September.
Nvidia’s inventory has surged by over 161% this yr, giving it a market cap of over $3.1 trillion, making it the third-biggest firm on the planet.
Its outcomes will doubtless present a glimpse at whether or not AI demand is rising. In its first-quarter outcomes, the corporate’s revenues jumped by over 240% to over $26 billion. Analysts count on its income to develop to $28.6 billion within the second quarter.
Robust revenues and ahead steerage bodes effectively for the business, which is able to result in larger costs for related belongings.
Outcomes that come beneath estimates may result in a pointy reversal.
Akash Community and Render are aligned with Nvidia’s enterprise as a result of they’re on the intersection of blockchain and the semiconductor business. They each supply distributed GPU rendering options on the blockchain community.
For instance, knowledge on Akash Community’s web site reveals that one can rent Nvidia’s H100 GPU for lower than $1 an hour, an reasonably priced value for a product that sells for over $30,000.
Bittensor has an identical distributed mannequin in that it presents a platform that decentralizes the method of making machine intelligence options.
Its token has risen by 106% from its lowest level in August. The opposite prime AI tokens to look at as Nvidia publishes its earnings are AIOZ Community (AIOZ), Arkham (ARKM), The Graph (GRT), and Web Laptop (ICP)
