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AI tokens rise after Nvidia surpasses Apple
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Donald Trump’s victory in the United States election sent cryptocurrency prices soaring. But Artificial Intelligence (AI) tokens were even more prominent, with some gaining more than 30% in value.
This happened not only because of the American election, but also because Nvidia surpassed Apple in market value. On Tuesday (05), the company reached US$3.43 trillion and reached the highest value in its history.
As a result, Nvidia became the most valuable company in the world, according to Companies Market Cap. Apple, in turn, saw its market value fall to US$3.37 trillion and fell to second place.
This milestone is evidence of Nvidia’s leadership in the artificial intelligence industry, which has also led to a significant increase in the number of AI-themed cryptocurrencies.Leadership that has benefited diverse tokens such as NEAR, Internet Computer (ICP), Bittensor (TAO) and others.
Nvidia vs Apple
On Tuesday alone, Nvidia shares rose 2.9%, bringing the company’s market value to $3.43 trillion. The company has been expanding at an extremely high rate due to the fact that its AI chips have become indispensable for many large language models available on the market today.
Fall Ainina, research director at James Investment Research, said Nvidia’s positioning as the world’s largest company highlights investors’ expectations regarding the development of the artificial intelligence market.
Since the end of 2024, Nvidia shares have risen more than 850% and seen its demand explode. The company does not produce AI tools, but rather the chips that power the systems. Therefore, companies like Microsoft, Alphabet, Amazon and Meta, which launched their AI technologies, use Nvidia chips.
With the increase in demand, the company’s profits rose sharply, which contributed to Nvidia’s appreciation. Wall Street analysts revised the company’s revenue estimates projecting 100% growth in 2024 and 44% the following year.
As Nvidia cements its status as a leader in AI, several cryptocurrencies focused on the sector have seen a substantial increase in their prices. NEAR Protocol, an AI-friendly blockchain platform, rose 5.46% to trade at $3.81.
The same happened with Internet Computer’s ICP token, whose price rose 4.99%. Bittensor, a decentralized AI platform, saw its TAO token appreciate 14.65%.
AI tokens rise after Nvidia surpasses Apple
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AI tokens rise after Nvidia surpasses Apple
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AI tokens rise after Nvidia surpasses Apple