Cathie Wood’s ArkInvest has announced that it prefers open source models over established models like ChatGPT. ArkInvest’s updated chart showcases the performance of these models. It also highlights the significant progress made by open source competitors. After this, artificial intelligence tokens such as INJ and ICP began to rise. Some prominent altcoins in this sector recorded gains of up to 30% with the influence of the positive atmosphere in the market.
Cathie Wood’s ArkInvest praises open source AI
ARK Invest recently shared its views on the evolving landscape of AI models, focusing on open source and closed systems. The research highlights with a graph the absolute log error of performance, specifically in the Massive Multitask Language Understanding (MMLU) benchmark. Data shows that open source models, including Mixtral, are making significant progress. It even reveals that OpenAI outperforms ChatGPT models with fewer parameters. Cathie Wood, who shared the article and graphic, expressed her excitement about the performance of open source large language models (LLMs). Thus, he recognized the importance of the technology race. This became the ignition for artificial intelligence altcoins.
Centralized giants like Google’s Gemini and OpenAI’s ChatGPT-4 currently dominate the AI landscape. However, the research points to a potential shift. Additionally, data hints that open-source AI models could surpass their centralized counterparts in 2024. It also marks a major turning point in the AI race. The emphasis on open-source AI aligns with a broader effort to democratize access to productive AI. However, amid this latest update, AI tokens have also witnessed a significant rally. This shows that investors are shifting their focus towards the segment.
Open Source Vs. Special Models. Source: ArkInvestThese altcoins started to rally
AI & Big Data tokens recorded a 15.58% increase in market value in the last 24 hours. Thus, altcoins in this segment reached a market value of $ 18.78 billion. The transaction volume of tokens increased by 11.82% to 1.70 billion dollars. This significant increase shows that market participants are placing their bets on this segment. So, let’s take a quick look at today’s best performing AI crypto tokens.
Injective (INJ) rallied 27%
Injective price increased by 27.37% during the day and reached $31.15. Thus, it reflected the bullish sentiment witnessed in the broader crypto market. Meanwhile, with its recent gains, it has also become one of today’s top percentage carrier altcoins. The crypto’s trading volume increased by 37% to $433.82 million. Notably, INJ hit a yearly high of $32.10 in the last 24 hours.
INJ daily price chart. Source: CoinMarketCapRNDR price jumps 21%
Render was another top-moving crypto among altcoins on Thursday. The token price was trading at $4.75, up 20.61% at the time of writing. Meanwhile, RNDR’s trading volume increased by 14.45% to $251.71 million. Notably, Render reached a yearly high of $4.80 in the last 24 hours, indicating increased investor confidence in the segment.
RNDR daily price chart. Source: CoinMarketCapInternet Computer (ICP) increased by 13%
ICP was another prominent AI token that gained significant attention with its recent price jump. At the time of writing, the altcoin price was trading at $6.38, up 13.09%. The trading volume of the token increased by 36.17% to $149.78 million. Meanwhile, ICP reached a high of $6.43 in the last 24 hours. Additionally, it hit a low of $5.63.
ICP daily price chart. Source: CoinMarketCap
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