- NVIDIA's robust income is driving the rise of AI tokens.
- AI tokens comparable to FET, RNDR and AGIX rose 4% to five% in 24 hours.
- NVIDIA reported income of $26.044 billion, beating expectations of $24.65 billion.
Altcoin Buzz host Cody Buffington noticed a spike in synthetic intelligence (AI) tokens following NVIDIA's Q1 earnings report. Based on Buffington, main AI tokens comparable to Fetch.ai (FET), Render (RNDR), and SingularityNET (AGIX) superior between 4% and 5% within the 24 hours main as much as his presentation.
In a lately uploaded video, Buffington identified that NVIDIA's Q1 report confirmed that its efficiency beat expectations by way of each income and earnings, prompting a major enhance within the inventory value. The Altcoin Buzz presenter defined that the corporate's efficiency underscores continued robust demand for AI chips, with vital good points in gross sales of knowledge facilities and community parts.
Citing NVIDIA's revealed knowledge, Buffington famous that the US tech big reported income of $26.044 billion, beating expectations of $24.65 billion. The chipmaker's internet revenue additionally rose to $14.88 billion, or $5.98 per share. By comparability, Buffington famous that in Q1 2023, NVIDIA's internet revenue was $2.04 billion, or $0.82 per share.
Buffington went on to level out that NVIDIA generated $7.7 billion and paid out $98 million in dividends through the first quarter, whereas asserting a ten:1 inventory break up to make inventory possession extra reasonably priced. Every holder of atypical shares will obtain 9 extra shares from June 6, 2024.
Notably, NVIDIA's inventory value soared after the announcement, crossing the $1,000 mark. Consequently, AI-related cryptocurrencies started to get better, and large-cap AI tokens noticed vital upward actions. Buffington identified that the AIOZ ( AIOZ ) community jumped 7% following the announcement that the chipmaker had listed the mission in NVIDIA's accelerator catalog. As well as, Buffington discovered that the NEAR protocol (NEAR) noticed a 2% enhance over the identical interval.
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