WorldCoin, the controversial cryptocurrency linked to OpenAI CEO Sam Altman, soared after semiconductor maker Nvidia's huge fourth quarter reignited artificial intelligence hype.
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Nvidia reported $22 billion in revenue, up nearly 270% year-over-year, as its chief executive hailed an “inflection point” in AI-driven computing. It shattered the expectations of the city.
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“Optimism in the crypto market remains very evident, and a notable catalyst was Nvidia's impressive earnings report,” Mikkel Molch, founder of digital asset investment fund Ark36, said in emailed comments. ” he said. “The chipmaker's fourth-quarter profit beat expectations, particularly driving the rise in AI tokens.”
WorldCoin's price has soared 300% in the last month, recovering from a decline this week as investors worried that the AI hype was too much.
According to data from CoinGecko, other AI-related cryptocurrencies such as singularitynet, fetchAI, and render have also surged, bringing the total market capitalization of AI cryptocurrencies to $16.5 billion.
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“Cryptocurrency markets have been trading in overnight trading, buoyed by a return to optimism in the stock market following upbeat NVIDIA coverage,” Alex Kupczykevich, senior financial analyst at FxPro, said in an emailed comment. I rebelled,” he said.
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