NVIDIA’s recent announcement of a record-breaking $44.06 billion in quarterly revenue can potentially have a big influence on the AI cryptocurrency sector.
These massive results, mostly coming from sky-high demand for AI chips, mean a lot more people are now closely watching AI coins like Render (RENDER), Fetch.ai (FET), and Bittensor (TAO) for big moves.
Render (RENDER): Decentralized GPU for Creators; Now at $4.41
RENDER powers a decentralized GPU rendering network that enables creators to access distributed GPU power for rendering 3D content, animations, and visual effects. This approach to decentralized GPU rendering addresses the increasing demand for high-quality digital content creation.
RENDER’s current price is $4.41, and its market cap is $2.28 billion.
Fetch.ai (FET): Fuels AI Agents on Blockchain; Now at $0.9011
Then there’s FET, an Ethereum token that powers a decentralized platform (Fetch.ai) which combines blockchain and AI to create autonomous economic agents. These can perform tasks such as data analysis, predictive modeling, and decision-making.
Fetch.ai’s integration of AI and blockchain technologies enables the development of decentralized applications that can operate autonomously, reducing the need for human intervention. This can have rather large implications for industries like supply chain management, finance, and energy.
FET is also a big part of the Artificial Superintelligence Alliance, a group pushing to use AI with blockchain for these kinds of smart agent services. FET’s current price is $0.9011, with a market cap checking in at $2.15 billion.
Bittensor (TAO): Decentralized Hub for AI Models; Now at $432.29
Then, we have TAO, a native token of Bittensor – a decentralized, open-source network that enables the creation and exchange of machine learning models. It allows a peer-to-peer marketplace where AI models can interact and be trained collectively, promoting innovation in AI development.
This unique way of how AI models are trained and shared creates a system where people can work together on AI projects on a larger scale, and it just might get even more attention following NVIDIA’s massive earnings due to AI demand.
TAO’s current price is $432.29, and its market cap is $3.77 billion.
NVIDIA’s Numbers: AI Data Centers Drive Q1 Boom, But China Export Curbs Bite
NVIDIA’s Q1 earnings mark a 69% year-over-year increase, where the data center division generated $39.1 billion – a 73% rise from the previous year, primarily driven by strong AI chip demand.
However, US export restrictions led to a $4.5 billion inventory charge, and the company anticipates an $8 billion revenue loss in Q2 due to halted H20 chip sales to China.
Still, NVIDIA continues to expand globally, with AI infrastructure projects in Saudi Arabia and Taiwan, and plans for a quantum computing lab in Boston.
The company’s performance reflects the growing importance of artificial intelligence across industries. As AI technologies become more integral, platforms and tokens supporting decentralized AI solutions are probably on a good track to gain traction.
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