AI-related stocks continue to appreciate, led by NVIDIA, could this impact the crypto industry?
Artificial intelligence technology (AI), which is increasingly surrounding the world, has also carried the relevant shares up in recent days. Artificial intelligence, which is used in almost all services, continues to receive investments and to be at the forefront with each passing day. This situation takes artificial intelligence-related stocks and cryptocurrencies to high levels from time to time. Can artificial intelligence shares, which have been ignited by NVIDIA’s recent balance sheet, be reflected in technology-related cryptocurrencies?
Artificial Intelligence Stocks Explode With NVIDIA
NVIDIA has released its financial report for the first quarter results. The popular technology company stated that its current second-quarter revenues will be 50 percent above the estimates. In addition, NVIDIA stated that it has increased the supply to meet the increasing demand for artificial intelligence, which is used to benefit ChatGPT and many similar services. After these statements, shares connected with artificial intelligence took flight.
NVIDIA’s shares surged almost 30 percent to a record $391.50. With this development, NVIDIA’s market value increased by approximately $200 billion, reaching over $950 billion. Leading artificial intelligence in terms of finance, NVIDIA has added value to many projects in terms of both stocks and cryptocurrencies.
Stocks such as LRCX and ASML rose by more than 10 percent in a short time. When we evaluate it on the basis of shares, it is seen that it performs well on a time-ratio basis. Other artificial intelligence stocks, which NVIDIA paved the way for its rise, are gaining more and more attention day by day. As of the writing of the news, the positive pricing of many AI stocks compared to the last days has been one of the clearest examples of this.
Can Artificial Intelligence Trend Be Seen in Crypto Coins?
The positive data in NVIDIA’s financial report for the first quarter results reflected on the crypto industry, allowing the related cryptocurrencies to explode in a short time. Many artificial intelligence-themed cryptocurrencies such as AGIX, FET, GRT continue to be on the list of the highest risers.
Could artificial intelligence-based stocks come to the fore again and show potential increases in the short term, could it ignite the artificial intelligence frenzy on the crypto side? The crypto ecosystem, which is currently struggling with SEC pressures, also faced liquidity problems in exchanges. In addition, the sale of altcoins by institutional companies has shaken the confidence in the market, leading to large price drops.
Although the increases in artificial intelligence stocks are not yet reflected in cryptocurrencies, analysts and experts argue that this trend will be seen in cryptocurrencies over time. Regulatory pressures, stock market technical problems and institutional negative attitude towards altcoins do not allow not only the field of artificial intelligence, but also Web3, metaverse, NFT and memecoins. In case the burden on the industry eases, a rise in cryptocurrencies related to artificial intelligence seems possible again.
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