Artificial Superintelligence Alliance

NEAR Protocol

Internet Computer

Apple

<ul>
 <li>Nvidia, a multinational tech company’s commendable achievement has led to price surges for AI-focused cryptocurrencies like NEAR Protocol, Internet Computer, and Bittensor.</li>
 <li>Notably, the AI chip company has surpassed Apple to become the world’s most valuable company.</li>
</ul>
Nvidia has <a href="https://www.ethnews.com/nvidia-breaks-records-with-30-billion-revenue-amidst-ai-boom/" target="_blank" rel="noopener noreferrer nofollow">once again</a> hit center stage. This comes after Nvidia <a href="https://coingape.com/ai-coins-rally-as-nvidia-surpasses-apple-as-largest-global-company/" target="_blank" rel="noopener noreferrer nofollow">surpassed</a> Apple, a multinational tech company to become the world’s most valuable company by market capitalization. In essence, this has left the major player in the AI revolution attaining a $3.43 trillion valuation.&nbsp;
Nvidia’s commendable achievement has on the other hand led to a rapid increase in AI-related cryptocurrencies including NEAR Protocol, Internet Computer (ICP), and Bittensor (TAO). On Tuesday, Nvidia’s stocks surged by 2.9%, putting its market cap slightly above Apple’s, which currently holds a valuation of $3.38 trillion. This growth has majorly been fueled by Nvidia’s ability to provide AI chips essential for powering advanced machine learning models, such as the large language models behind recent AI breakthroughs.
It is worth mentioning that these are the same chips that giant tech companies like Microsoft, Alphabet, Amazon, and Meta utilize therefore contributing to the chipmaker’s exponential growth.
Flowing with prosperity, Nvidia’s stocks have risen over 850% since late 2022. This is a big vote of confidence from investors within the AI sector.&nbsp;
Adding to the enthusiasm, Wall Street analysts have come forward predicting that after studying the firm’s revenue, the revenue is expected to double this year and increase by an additional 44% next year.
<h3 id="b-ai-related-cryptos-surge-b">AI-related Cryptos Surge</h3>
In the wake of Nvidia’s market triumph, several AI-related cryptocurrencies<a href="https://www.ethnews.com/nvidias-q2-earnings-spark-ai-crypto-surge-top-assets-to-watch/" target="_blank" rel="noopener noreferrer nofollow"> recorded substantial gains</a> further evidencing the market’s confidence in AI-related tech. Notably, NEAR Protocol, an AI-compatible blockchain known for its efficient, scalable infrastructure, saw a 5.46% increase, trading at $3.81 with a trading volume of $222 million.
At the time of writing, NEAR Protocol is swapping hands with $4.11 marking a 10.34% in the past 24 hours. 
Similarly, Internet Computer (ICP), a blockchain designed to power AI applications on decentralized networks, rose 4.99% to $7.37, with a trading volume of $57 million. At the time of press, ICP is changing wallets with $7.60 representing a 5.93% surge in the last 24 hours.&nbsp;
Additionally, Bittensor (TAO), a decentralized AI-focused project, soared by 14.65% to $482.41. Bittensor’s technology allows decentralized networks to train and improve AI models collectively, mirroring the decentralized ethos of blockchain while embracing AI.&nbsp;
At the time of press, Bittensor is currently hovering around $515.04 representing a 19.01% surge in the past day.&nbsp;
The Artificial Superintelligence Alliance, another project supporting AI integration, gained 10.96%, trading at $1.25, and Injective Protocol, a platform enabling decentralized AI applications, rose 6.26% to $17.34. Currently, Artificial Superintelligence Alliance is up by 17.78% stopping at $1.38 with a $3.34B market cap.
On the contrary, Despite Nvidia’s recent gains, the company is facing regulatory scrutiny, particularly regarding its acquisition strategies. The European Commission is currently reviewing Nvidia’s planned $700 million purchase of Israeli AI startup Run Labs Ltd.
The post <a href="https://www.ethnews.com/near-icp-and-tao-surge-as-nvidia-claims-top-spot-over-apple-in-global-market-cap/" rel="noopener noreferrer nofollow">NEAR, ICP, and TAO Surge as Nvidia Claims Top Spot Over Apple in Global Market Cap</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

NEAR, ICP, and TAO Surge as Nvidia Claims Top Spot Over Apple in Global Market Cap

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