How NVIDIA earnings could impact crypto AI tokens 400% rally
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Nvidia, the world’s largest chip maker is scheduled to release Q4 2023 earnings on Feb. 21, 2024, market trends examines how its top-ranked Crypto AI tokens could react. Reminiscent of NVIDIA’s strategic importance to the global Artificial Intelligence sector, the top 5 crypto AI tokens have mirrored NVDA stock price movement, since January 2023. Internet Computer (ICP), TheGraph (GRT) FetchAI (FET), SingularityNET (AGIX) and Ocean protocol (OCEAN) could be on the verge of another major price breakout. AI surge triggers NVIDIA’s remarkable stock price performance Driven by the emergence of OpenAI in January 2023, Artificial Intelligence (AI) has gained significant investor mindshare in the past year. And the global AI rave has also spread towards the cryptocurrency sector. Generative AI and AI-related startups raised nearly $50 billion in 2023, per Crunchbase data. Evidently, AI has been at the center stage of global investing in the past year, and NVIDIA has been at the center of the rave, with its industry-leading chips manufacturing business. NVIDIA (NVDA) Earning Calls Jan 2023 – Jan 2024 Unsurprisingly, NVIDIA has scored significant gains amid the AI rave. And between January 1, 2023 and February 20, 2024, the NVDA stock price increased 400% from $126 to $726. Market watchers have pegged NVIDIA’s expected performance at $4.18 earnings per share for Q4 2023. NVIDIA Corp (NVDA) Earnings Calls | January 2023 – January 2024 And on Feb. 21 NVIDIA is scheduled to release its official earnings report for Q4 2023. Market watchers have pegged NVIDIA’s expected performance at $4.18 earnings per share for Q4 2023. Notably it has outperformed consensus market expectations at each of the last 3 earnings calls dating back to January 2023. During that period, the AI rave has also reverberated through among crypto investors. Crypto AI tokens’ emergence has correlated to NVIDIA’s performance…
Filed under: News - @ February 20, 2024 11:16 am