YEREVAN (CoinChapter.com) — Nvidia’s recent earnings report led to a downturn in the cryptocurrency market, particularly affecting AI-related tokens. The company’s results met or slightly exceeded analysts’ estimates, but the numbers fell short of the high expectations set by investors.
Nvidia’s Earnings Impact AI Tokens: Render and FET Experience Price Drops
Nvidia Corp. reported earnings that were in line with analysts’ expectations but did not exceed them as in previous quarters. This led to a drop in the prices of several AI-related cryptocurrencies.
Render (RNDR) dropped by 0.73% in the past hour and 6.39% over the last 24 hours. Despite this, it still shows an 11.14% increase over the past week. Its current price is $5.55, with a market cap of $2.17 billion.
Artificial Superintelligence Alliance (FET) saw a 0.12% decrease in the past hour and a 6.43% drop over the last 24 hours. However, it remains up 15.32% over the past week. Its market price is $1.20, with a market cap of $3.02 billion.
Nvidia’s Blackwell Chip Issues Raise Investor Concerns, Impact AI Tokens Like Bittensor
Nvidia faced production issues with its new Blackwell chips, which are designed for AI applications. The company reported that it is making changes to improve the manufacturing process. These challenges have caused concerns among investors.
Bittensor (TAO), another AI-related token, experienced a 0.61% increase in the last hour but is down 6.25% over the last 24 hours. Its price is $295.55, with a market cap of $2.15 billion.
Cautious Investor Sentiment Following Earnings Report
The market response to Nvidia’s earnings report has been cautious, especially among investors in AI-driven assets. Nvidia’s CEO, Jensen Huang, mentioned that the company expects to generate significant revenue in the fourth quarter from the Blackwell chips, despite the production issues.
Injective (INJ), another AI sector token, saw a slight 0.09% increase in the past hour, though it is down 3.88% over the last 24 hours. Its current price is $18.27, with a market cap of $1.78 billion.
In summary, Nvidia’s earnings report and the production issues with its Blackwell chips have influenced the AI-related cryptocurrency market, leading to a cautious outlook among investors.
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