Clore.ai

Render

Akash Network

Arkham

Clore AI, a fast-growing AI-focused cryptocurrency, continued its recovery as demand for artificial intelligence assets rose. 
Clore.ai (<a rel="" href="https://crypto.news/price/clore-ai/">CLORE</a>) token rose for two consecutive days, reaching a high of $0.1143, its highest point since Sep. 26. It has risen by 140% from its lowest point this year, though it remains 76% below its year-to-date high. 
Clore.ai is a blockchain project that provides distributed Graphics Processing Unit for use in industries like <a rel="" href="https://crypto.news/tag/ai/">AI</a> training, cryptocurrency mining, and movie rendering. It competes with other larger companies like Akash Network (<a rel="" href="https://crypto.news/price/akash-network/">AKT</a>) and Render (<a rel="" href="https://crypto.news/price/render/">RNDR</a>). 
Demand for GPUs has <a href="https://www.trendforce.com/news/2024/05/14/news-gpu-shortage-issue-for-ai-eased-followed-by-a-new-problem/" target="_blank" rel="nofollow">outpaced supply</a> in the past few years, with estimates suggesting that big tech companies will spend over $1 trillion by 2028. 
In response, Clore has created a platform where users can lease GPUs and pay as little as 86 cents a day. 
There are signs that demand for its solution has continued rising, as the number of rentals has jumped to over 400,000. This trend could persist as the use-case for GPU leasing grows. 
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 🚀 400,000+ Successful Rentals! 🎉 We’re thrilled to announce that the Clore platform has officially surpassed 400,000 successful rentals! 💪 This is a huge testament to the real-world value and impact of our platform. Every rental represents a step forward in building a… <a rel="nofollow" href="https://t.co/CIeLFrC7ZL" target="_blank">pic.twitter.com/CIeLFrC7ZL</a>— clore.ai (@clore_ai) <a href="https://twitter.com/clore_ai/status/1843957348861145088?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 9, 2024</a>
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According to its statistics page, the number of online machines has soared to a record high of 3,888, up from last month’s low of 3,166. 
Clore’s price has also rallied due to the ongoing Nvidia stock rally. After bottoming at $90 in August, Nvidia’s stock has bounced back to $135. It has risen for three consecutive days and is nearing its all-time high of $140. 
Palantir, another AI stock, has also rallied for five consecutive weeks, pushing its market cap to over $100 billion. Other AI tokens like Bittensor, Artificial Superintelligence Alliance, and Arkham have also rebounded. 
The next few weeks will be critical for AI companies as they publish their third-quarter financial results. AMD, a major Nvidia competitor, will release its earnings on Oct. 29, while Palantir will release its results on Nov. 1. 
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<h2 class="wp-block-heading" id="clore-ai-price-faces-key-resistance">Clore.ai price faces key resistance</h2> 
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 Clore.ai chart by <a href="https://www.tradingview.com/symbols/CLOREUSDT/?exchange=MEXC" target="_blank" rel="nofollow">TradingView</a>
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CLORE token formed a double-bottom pattern, a highly bullish sign,&nbsp; at $0.04412 in August and September. 
It recently formed a small doji candlestick pattern on Oct. 9. A doji occurs when an asset opens and closes at the same level and is considered a bullish sign. The price has moved above the 50-day moving average. 
Therefore, more upside will be confirmed if the price rises above the key resistance level at $0.1193, its highest swing in September. 
 You might also like: <a rel="" href="https://crypto.news/bittensor-crypto-charts-ai-tokens-ride-nvidia-wave/"> Bittensor tops crypto charts as AI tokens ride Nvidia wave </a>

Clore.ai token rises as Nvidia, Palantir stocks surge

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