Nvidia’s upcoming Q1 earnings report is expected to have a significant impact on the crypto AI token market and the traditional tech market. Analysts on Wall Street anticipate a 200% surge in revenue and a 400% increase in profits for Nvidia, largely driven by the AI boom. As Nvidia’s chips are instrumental in AI development, the company’s financial performance could have a substantial influence on AI-focused cryptocurrencies. Investors are particularly interested in how the earnings will affect tokens tied to AI advancements and the wider adoption of AI technologies. Here are three AI cryptocurrencies that are likely to be influenced by Nvidia’s earnings report.
1. The Graph (GRT):
The Graph is an indexing protocol designed for querying blockchain networks, with a particular focus on Ethereum. The performance of Nvidia could impact the price of The Graph’s GRT token, as there is an increasing demand for efficient data retrieval and AI-optimized indexing in line with advancements in AI technology. The growing investment in AI by tech giants could boost the adoption and utility of The Graph, thereby driving up its value.
2. Fetch.ai (FET):
Fetch.ai combines AI with blockchain to enable autonomous agents for data sharing and resource management. Nvidia’s growth in AI chip sales highlights the expanding AI ecosystem, which could benefit Fetch.ai by enhancing the development and deployment of AI-driven applications. Additionally, as Nvidia leads in AI infrastructure, Fetch.ai’s reliance on advanced AI capabilities makes it particularly sensitive to Nvidia’s earnings report.
3. SingularityNET (AGIX):
SingularityNET provides a platform for AI developers to share and monetize their AI technologies. Nvidia’s advancements in AI hardware have the potential to accelerate the capabilities and reach of AI services on SingularityNET. The success of the platform is heavily dependent on robust AI hardware, making Nvidia’s earnings and continued innovation crucial for the growth of SingularityNET and the broader AI market.
In terms of price performance, all three tokens have seen positive gains recently. The Graph’s GRT token has risen by over 19% week-to-date, while Fetch.ai’s FET token has rallied over 24%. SingularityNET’s AGIX token saw the highest increase, spiking 25.5%. Continued bullish momentum could lead to further price increases, with each token facing resistance levels at different price points. Conversely, a reversal in the rally could result in a test of the tokens’ respective support levels.
