There is a direct correlation between how stock prices of Artificial Intelligence (AI) firms like Nvidia perform and those in crypto. When Nvidia’s price spiked in Q1 2024, crypto AI tokens like FET and the rest soared. The same is being replicated once more in Q2 2024.
Nvidia Dominates As Share Prices Break $1,000
Yesterday, Nvidia, a chip manufacturer, once more shattered expectations as the Nividia stock price broke above $1,000 for the first time in its history.
Revenue from their data center business, including the sale of AI chips, rose to $22.6 billion, an over 4X growth year-to-date.
With increasing revenue, net income also rose to $14.88 billion, up from nearly $3 billion in the previous quarter. The spike, driven wholly by the stellar performance in Q1 2024 earnings, makes it one of the largest firms in the world, cementing its dominance.
If anything, the success of Nvidia can be seen as a bellwether for the booming AI sector.
Undoubtedly, there is a strong demand for their superior AI-centric chips, which will only rise with the release of “Blackwell” later this year. Leading firms like OpenAI (which is behind ChatGPT), Google, and Meta are all buying Nvidia products.
The Rise of AI Crypto: ASI, WienerAI, And PAAL AI are Tokens To Watch Out
With Nvidia’s price rallying, savvy investors are looking at crypto tokens that integrate artificial intelligence.
Considering the boom in Q1 2024, coinciding with the sharp rise of Bitcoin prices, hopes are high that crypto prices and AI tokens will also rally in Q2 and 3 of 2024.
If that’s the case, investors believe the following tokens are worth exploring:
- Artificial Superintelligence Alliance (ASI): The ASI token is being released following a merger between some of the largest AI-focused crypto projects in the world. Three projects, Fetch.ai, SingularityNET, and Ocean Protocol, joined hands and will release ASI in the next few weeks, with a starting market cap of $7.5 billion. At this level, the token will be more valuable than Polygon, Litecoin, and Uniswap. ASI will have a slot in the top 20. This merger aims to accelerate research in AI and prevent big technology companies like Alphabet from dominating the field. Accordingly, analysts expect ASI to roar on launch.
- PAAL AI: ChatGPT shot in popularity once it launched, as user count shot to over 100 million weeks after its highly anticipated release. The chatbot is a mega success. PAAL AI aims to replicate this success, explaining why supporters claim it is the “ChatGPT of crypto.” The platform is an AI-powered chatbot ecosystem leveraging AI and machine learning to assist investors. PAAL is central to this platform, allowing holders to access services, participate in governance, and even stake.
- WienerAI: Analysts always recommend investors get in early, especially when they pick out a quality and potentially high-growth unicorn. Of the many crypto/artificial intelligence tokens, WienerAI stands out, especially considering how successful its ongoing presale is. Days after launching, WienerAI has raised over $2.7 million. Investors have found an opportunity primarily because of the project’s ambition. WienerAI will release AI algorithms that allow for the swift optimization of trading strategies. At the same time, the platform has a vibrant community, robust tokenomics, and is secure. WAI token holders can stake and earn a yield of 373%. In the future, they plan to launch a DEX. WAI is now available for $0.00071, but leading influencers on YouTubers think the token can easily 100X in the next months.
(WienerAI)
The Future of AI and Crypto: Eyes On WAI
Blackwell will go live later this year, meaning the odds of Nvidia rallying, even after the stock split, are high. The positive correlation between Nvidia’s performance and crypto AI tokens means those who get in now have an opportunity to reap big benefits. WAI investors are favorably positioned in that the token is available at a deep discount. Moreover, users are scrambling to buy for staking before the planned WienerAI DEX launch.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
