Artificial Superintelligence Alliance

Akash Network

Bittensor

Internet Computer

AIOZ Network

Artificial Intelligence-focused cryptocurrencies — and stocks — will be in the spotlight next week as Nvidia publishes its quarterly results after the closing bell on Wednesday, Aug. 28.&nbsp; 
Ahead of the event, Akash Network (<a href="https://crypto.news/price/akash-network/" target="_blank" rel="noreferrer noopener">AKT</a>) has risen by 10% in the past seven days. Similarly, Bittensor (<a href="https://crypto.news/price/bittensor/" target="_blank" rel="noreferrer noopener">TAO</a>), Render Token (<a href="https://crypto.news/price/render/" target="_blank" rel="noreferrer noopener">RNDR</a>), and Artificial Superintelligence Alliance (FET) have both jumped by over 30% in this period. 
According to <a href="https://www.coingecko.com/en/categories/artificial-intelligence" target="_blank" rel="">CoinGecko</a>, the market cap of all AI tokens rose by over 13.7% on Aug. 24 while the trading volume rose to $1.7 billion. 
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These gains came on the heels of Federal Reserve’s Jerome Powell recent speech where he hinted that interest rates will be cut in September.&nbsp; 
 You might also like: <a href="https://crypto.news/bitcoin-raced-to-62k-as-fed-teased-september-rate-cut/"> Bitcoin raced to $62k as Fed teased September rate cut </a> 
Nvidia’s stock has surged by over 161% this year, giving it a market cap of over $3.1 trillion, making it the third-biggest company in the world. 
Its results will likely provide a glimpse at whether AI demand is rising. In its first-quarter results, the company’s revenues jumped by over 240% to over $26 billion. <a href="https://finance.yahoo.com/quote/NVDA/analysis/" target="_blank" rel="">Analysts expect</a> its revenue to grow to $28.6 billion in the second quarter.&nbsp; 
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 Former <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$NVDA</a> employee shares his view on <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$NVDA</a>: – He thinks <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$NVDA</a> has an aggressive roadmap. According to him, in 2026, <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$NVDA</a> will make a chip called Rubin. For him, the most significant risk for <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$NVDA</a> is if they don't execute on their roadmap. – He also thinks <a href="https://twitter.com/search?q=%24TSM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$TSM</a> can be a… <a href="https://t.co/guARiJFM8w" target="_blank" rel="">pic.twitter.com/guARiJFM8w</a>— AlphaSense (@AlphaSenseInc) <a href="https://twitter.com/AlphaSenseInc/status/1826999143262302638?ref_src=twsrc%5Etfw" target="_blank" rel="">August 23, 2024</a>
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Strong revenues and forward guidance bodes well for the industry, which will lead to higher prices for associated assets. 
Results that come below estimates could lead to a sharp reversal. 
Akash Network and Render are aligned with Nvidia’s business because they are at the intersection of blockchain and the semiconductor industry. They both offer distributed GPU rendering solutions on the blockchain network.&nbsp; 
For example, data on Akash Network’s <a href="https://akash.network/about/pricing/custom/" target="_blank" rel="">website</a> shows that one can hire Nvidia’s H100 GPU for less than $1 an hour, an affordable price for a product that sells for over $30,000.&nbsp; 
Bittensor has a similar distributed model in that it offers a platform that decentralizes the process of creating machine intelligence solutions. 
Its token has risen by 106% from its lowest point in August.&nbsp;The other top AI tokens to watch as Nvidia publishes its earnings are AIOZ Network (AIOZ), Arkham (ARKM), The Graph (<a href="https://crypto.news/price/the-graph/" target="_blank" rel="noreferrer noopener">GRT</a>), and Internet Computer (ICP) 
 Read more: <a href="https://crypto.news/harris-official-stance-on-crypto-update/"> Harris dips a toe in the crypto waters — is it enough? </a>

Akash, Render, Bittensor tokens brace for Nvidia earnings

crypto.news

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