As Nvidia flips Apple at $3.43T, AI coins follow suit with big gains!
- Nvidia surpasses Apple reaching $3.43 trillion in market cap.
- AI themed coins have surged by double digits in response to Nvidia’s milestone.
Over the past day, finance markets including crypto have experienced massive gains. With Bitcoin [BTC] hitting a new ATH of $74k, AI-related businesses have also surged to a historical record.
With the rising adoption and demand for Artificial Intelligence (AI), AI-themed companies, including Nvidia, have made significant gains challenging the existing status quo.
Amidst this AI frenzy, Nvidia has risen in performance over the past year. During this period, Nvidia has surged by 205.81% becoming one of the most valuable companies in the world.
As such, over the past day, Nvidia soared by 2.8% to hit $3.43 trillion, flipping Apple as the world’s most valuable company. This leaves Apple in the second position with $3.38 trillion.
This comes barely a month after Nvidia surpassed Microsoft. According to Google Finance, the company’s stocks have surged by 190.45% YTD, and made the most gains in 2024 compared to other giants like Apple, and Microsoft.
AI coins soar
As expected, this surge in Nvidia stocks and market cap has had a massive impact on AI-themed cryptocurrencies.
For instance, AI coins such as Render and FET that are directly associated with Nvidia have made significant gains with Render surging by 15.57% in 24 hours and FET hiking by 16.77% over the same period.
Looking further, other AI coins have made significant gains with Bittensor rising by 18% to lead this AI coins upsurge. Equally, Internet Computer [ICP] soars by 11.54%. NEAR Protocol [NEAR] surged by 14.74% while Injective [INJ] surged by 15.15% over the past 24 hours.
Undoubtedly, as Nvidia continues to surge, this market confidence will directly reflect in AI-themed coins. As we have witnessed over the past day, the AI ecosystem has a direct impact on the crypto market especially when the whole market is gaining.
As such, as Nvidia rises, AI-themed coins are well-positioned to experience higher investor favorability as the market is currently shifting.