Token

Render

The Graph

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/nvidias-earnings-report-influences-ai-token-prices/" data-wpel-link="internal">Nvidia’s Earnings Report Influences AI Token Prices</a><br></p>
<p class="p1" style="text-align: justify">Artificial intelligence (AI) related cryptocurrency assets’ prices continue to fall despite Nvidia’s impressive first-quarter earnings report, contrary to crypto <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ expectations. On May 23, Nvidia, known for its strong chipsets in the <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">AI field</a>, managed to exceed analyst estimates of $24.6 billion in revenue, with an 18% increase from the fourth quarter of last year and a 262% increase from the previous year.</p> 
<h2 class="p1" style="text-align: justify" id="nvidia-and-the-ai-field">Nvidia and the AI Field</h2> 
<p class="p1" style="text-align: justify">The earnings report was released after the New York Stock Exchange (NYSE) market closed on May 22, and according to Yahoo Finance, NVDA reached $1,007 in after-hours trading, a 6.06% increase at the time of writing.</p> 
<p class="p1" style="text-align: justify">Some AI token investors were disappointed that the positive results did not lead to a similar increase in AI token prices. According to CoinMarketCap data, within just five hours of the earnings report’s release, Render (RNDR), a platform supported by Ethereum that enables the creation of decentralized graphics processing units, saw a 12% drop, with its price falling to $10.38.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-354711" src="https://coin-turk.com/wp-content/uploads/2024/05/xo.webp" alt="" width="500" height="130"></p> 
<p class="p1" style="text-align: justify">However, according to data from crypto research firm Santiment, a known whale wallet sent approximately $52.1 million to an unknown wallet today, which may indicate that large wallet holders are expecting a sell-the-news process.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-354710 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/rndr-2.webp" alt="" width="1469" height="842"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-ai-field">What’s Happening in the AI Field?</h2> 
<p class="p1" style="text-align: justify">Popular crypto investor and analyst D0C Crypto noted that RNDR did not experience a price increase until two days after Nvidia’s recent earnings report and commented:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“During Nvidia’s Q4 earnings event in February, RNDR increased by 38% within 48 hours. If history repeats itself, RNDR could rise above $15 from its current price within 48 hours.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Other AI-related crypto assets like The Graph (GRT) experienced a drop of approximately 4.77%. Similarly, Fetch.ai (FET) fell by 6.42%, while SingularityNet (AGIX) recorded a 6.25% decrease. However, investors are confident that Nvidia’s results will eventually flow into the broader <a href="https://en.coin-turk.com/coinbase-eyes-growth-following-canadian-governments-crypto-report/" data-wpel-link="internal">crypto market</a> and create a positive impact.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/nvidias-earnings-report-influences-ai-token-prices/" data-wpel-link="internal">Nvidia’s Earnings Report Influences AI Token Prices</a></h5>

Nvidia’s Earnings Report Influences AI Token Prices

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