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AI Crypto Soars After Nvidia’s First Quarter; Rendering (RNDR) leads the way
On Wednesday, Nvidia Corp. (NASDAQ: CORP), a leading global provider of artificial intelligence (AI) software and hardware products, announced its fiscal 2025 revenue for the first quarter ended April 28. According to announcement, Nvidia raked in a whopping $26 billion, up 18% from last quarter and a staggering 256% from the same period last year.
Why should you care? Because it could impact your wallet! Read on to find out how.
Data Center division leads the way
Nvidia’s data center division stole the show, raking in a staggering $22.6 billion. That’s a 23 percent jump from last quarter and a staggering 420 percent jump from last year. Building on this success, the company announced a significant 150 percent increase in its quarterly cash dividend, now at $0.01 per share following a ten-for-one stock split.
Therefore, NVDA The stock gained more than 6 percent in Wednesday’s after-hours session to trade around $1,007. Remarkably, NVDA stock is up more than 91% year to date.
AI crypto boom: riding the Nvidia wave
Over the past few quarters, AI crypto projects have benefited significantly from Nvidia’s impressive stock market growth. According to the latest market data, the AI crypto industry has a market capitalization of approximately $35.4 billion and an average daily trading volume of approximately $2.2 billion.
In the space of AI-driven crypto projects, some heavyweights are making waves. Projects like Fetch.ai (FET), Give back (RNDR), The Graph (GRT), Bittensor (TAO), and SingularityNET (AGIX) are at the forefront, ready to capitalize on Nvidia’s rise for their own growth.
The astonishing surge of the RNDR
One project in particular, Render (RNDR), is attracting everyone’s attention with the increase in whale activity. A major RNDR player recently transferred 4.89 million units worth over $52 million to an undisclosed wallet. The move caused RNDR’s daily trading volume to skyrocket by 107% to around $836 million during Thursday’s early Asian session.
As Nvidia continues to push the boundaries of AI, the effects of its success ripple across industries, shaping the future of technology in ways we are only beginning to imagine.
What do you think – Is AI cryptography the next big thing?
Also discover: Render Token Price Prediction 2024, 2025, 2030: Will RNDR Token Hit $12 This Month?