With the introduction of ChatGPT developed by OpenAI company in 2021, artificial intelligence became one of the most talked about areas. While technological developments reached completely different levels, the chip manufacturer company Nvidia also added value to its value.
Joining the ‘Magnificent 7’ with a market capitalisation of over $3 trillion, Nvidia’s quarterly earnings reports have been a decisive factor for the course of both cryptocurrency and American stock markets. There were such times that Nvidia’s earnings report came better than expected, preventing the markets from deteriorating.
Here on Wednesday, Nvidia’s Q2 earnings report for 2024 will be officially announced. Expectations are that the company’s revenue will increase by around 99% compared to the same period last year… Nvidia share value, which has increased by 160% since the beginning of the year, has increased by more than 3000% in the last 5 years.
Artificial intelligence coins are on the rise…
The positive expectations in Nvidia also positively affected the coins of the cryptocurrency world that touch the artificial intelligence field. Although the small-scale decline in Bitcoin in the last 24 hours negatively affects altcoins, it is seen that the last 1-week rises have reached serious levels in artificial intelligence coins.
Looking at the largest artificial intelligence-oriented coins in terms of market capitalisation in the last week;
- FET 62%
- OCEAN 61%
- AGIX 58%
- RENDER 42%
- NEAR 26%
- TAO 23
- GRT rose by 22%.
If Nvidia records at least 100 per cent growth this quarter, it will be the 5th consecutive quarter of triple-digit growth for the company.
High Nvidia figures could further boost artificial intelligence coins as well as US stock markets.