AI tokens rally alongside NVDA following White House discussion on AI technology
- AI tokens are on the rise, as key tech leaders met at the White House to discuss artificial intelligence.
- Jensen Huang, CEO of Nvidia, noted that we are at the beginning of a new industrial revolution.
- NEAR, TAO, ASI and RENDER are all up following the rise in NVDA stock price.
Several AI tokens rallied on Thursday following a rise in Nvidia stock price as its CEO Jensen Huang hinted at the "beginning of a new industrial revolution" in an artificial intelligence meeting held at the White House.
NEAR, TAO, RENDER see gains following key statements by Nvidia CEO
The AI token category saw gains on Thursday after a series of comments by Nvidia's CEO led to a rise in their prices. The comments came after Jensen Huang and other top tech leaders, including OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei, Microsoft President Brad Smith, Google President Ruth Porat, and Amazon Web Services CEO Matt Garman met at the White House.
CNBC earlier reported that the meeting was centered around the future of Artificial intelligence energy infrastructure. In an interview after the meeting, Huang stated that we are on the verge of a new industrial revolution.
Following his statement, NVDA stock price increased by 2%, extending its 11% gains from Wednesday. The rise trickled down to AI tokens in the crypto market, which have seen notable upticks in their prices.
Among the top gainers in the AI category are NEAR, which rose over 7%; ASI, which rose 2%; TAO, which increased over 3%; and RENDER and GRT, which increased 2% and 5%, respectively. All of these tokens rallied alongside the NVDA stock, which is a common historical trend for the market.
The relationship between Nvidia's stock and AI tokens category reflects a growing trend around the general artificial intelligence market. Nvidia is the largest AI company in the world, commanding over 60% of the general Artificial Intelligience industry market share. This makes other assets highly sensitive to NVDA stock movements, thereby creating synergy in their markets.
Meanwhile, ASI also saw gains due to recent events surrounding its alliance. The Artificial Superintelligence Alliance announced on Wednesday that it seeks to add a fourth member to its community. This caused its price to rise in the past 24 hours before the general market learned of the news.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
