Artificial Intelligence

Elon Musk

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>AI tokens sector surged by almost 18% in the past 24 hours amidst the US elections.</li> 
 <li>Trump’s victory is seen as a huge win for Elon Musk’s Tesla and AI initiatives.</li> 
</ul> 
<p>The Artificial Intelligence tokens sector recorded an impressive surge in the past 24 hours. The top AI tokens by market cap sector surged by almost 18%, amidst the US elections.</p> 
<p>Donald Trump’s victory in the US is seen as a massive win for Elon Musk’s Tesla, and AI initiatives. Musk should start working with Trump, according to the Republican US President’s previous promises.</p> 
<h2 id="ai-tokens-sector-surges">AI Tokens Sector Surges</h2> 
<p>The AI tokens sector has a market cap of almost $29 billion, according to data from CoinGecko. The 24-hour trading volume surpassed $3.6 billion with tokens including NEAR Protocol, Grass and Bittensor trending.</p> 
<p>The largest gainers in the AI token sector, including Vectorspace AI, up by over 46% today, AIT Protocol, up by over 35%, and Argocoin, up by over 31% today.</p> 
<figure id="attachment_52711" aria-describedby="caption-attachment-52711" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct.png"><img loading="lazy" decoding="async" class="wp-image-52711 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct.png" alt="CoinGecko data" width="1575" height="370" title="AI Tokens Sector Surged by Almost 18% Following US Elections 22" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct.png 1575w, https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct-300x70.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct-1024x241.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct-768x180.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct-1536x361.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct-750x176.png 750w, https://crypto.ro/en/wp-content/uploads/2024/11/ai6oct-1140x268.png 1140w" sizes="(max-width: 1575px) 100vw, 1575px"></a>
 <figcaption id="caption-attachment-52711" class="wp-caption-text">
  CoinGecko data
 </figcaption>
</figure> 
<p>Other important AI gainers include FET which surged by 18% in 24 hours, ARKM, recording a price rise of $26%, and OCEAN which saw a price rise of over 18% in the last 24 hours, data from <a href="https://www.coingecko.com/en/categories/artificial-intelligence" rel="nofollow noopener" target="_blank">CoinGecko</a> shows.</p> 
<figure id="attachment_52712" aria-describedby="caption-attachment-52712" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko.png"><img loading="lazy" decoding="async" class="wp-image-52712 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko.png" alt="CoinGecko data" width="1621" height="741" title="AI Tokens Sector Surged by Almost 18% Following US Elections 23" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko.png 1621w, https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko-300x137.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko-1024x468.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko-768x351.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko-1536x702.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko-750x343.png 750w, https://crypto.ro/en/wp-content/uploads/2024/11/6octcoingecko-1140x521.png 1140w" sizes="(max-width: 1621px) 100vw, 1621px"></a>
 <figcaption id="caption-attachment-52712" class="wp-caption-text">
  CoinGecko data
 </figcaption>
</figure> 
<p>The AI tokens market surge is related to <a href="https://crypto.ro/en/news/donald-trump-wins-the-us-presidency-bitcoin-sets-a-new-ath-above-75k/">Trump’s victory</a> in the 2024 US Presidential elections.</p> 
<h2 id="trump-s-victory-a-win-for-elon-musk-tesla-and-ai-initiatives">Trump’s Victory – A Win for Elon Musk, Tesla and AI Initiatives</h2> 
<p>Under Trump’s second term, the technology sector should be the primary beneficiary with Elon Musk and Tesla among the biggest winners, according to Wedbush in a research note mentioned on X. Wedbush Securities is a leading wealth management, brokerage, and advisory firm.</p> 
<p>Musk should take the lead of the Department of Government Efficiency under the second Trump term as previously <a href="https://crypto.ro/en/news/top-11-crypto-promises-made-by-us-president-donald-trump-in-2024/">promised</a> this year during an X spaces interview with Musk.</p> 
<p>According to analysts at Wedbush, while EV&nbsp; (electric vehicle) rebates/tax incentives could get pulled, Tesla’s size and scope should give Musk and the company a clear advantage in a nonEV subsidy environment.</p> 
<p>Tesla shares are up by over 3.5% today and over 36% in the past six months.</p> 
<figure id="attachment_52713" aria-describedby="caption-attachment-52713" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/tesla.png"><img loading="lazy" decoding="async" class="wp-image-52713 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/tesla.png" alt="Tesla shares' 6-month price trajectory " width="848" height="529" title="AI Tokens Sector Surged by Almost 18% Following US Elections 24" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/tesla.png 848w, https://crypto.ro/en/wp-content/uploads/2024/11/tesla-300x187.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/tesla-768x479.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/tesla-750x468.png 750w" sizes="(max-width: 848px) 100vw, 848px"></a>
 <figcaption id="caption-attachment-52713" class="wp-caption-text">
  Tesla shares’ 6-month price trajectory
 </figcaption>
</figure> 
<p>Wedbush also reportedly <a href="https://x.com/DeItaone/status/1854136009866256543" rel="nofollow" target="_blank">expects</a> AI to benefit players including Microsoft, Amazon, and Google and AI initiatives within the Department of Defence that can boost Palantir, data analytics and software company,</p>

AI Tokens Sector Surged by Almost 18% Following US Elections

Table of Contents

crypto.ro global

Other articles published on Nov 6, 2024

What Are Trump’s Crypto Commitments for 2024?

Trump Wind in Bitcoin: BTC Breaks New All-Time High Price Record After 10 Months!

Crypto Twitter slams influencer for claiming Trump’s Whitehouse run behind Bitcoin’s 516% surge

Bull run: Experts forecast potential price targets for Bittensor, Solana, Intel Markets

Ethereum Echoes S&P 500 Trends: Is a Triple Surge on the Horizon?

Here’s When the Ripple (XRP) Price Can Say ‘Goodbye’ to $1 for Good (Analyst)

Join our free newsletter for daily crypto updates!