The anticipation of several upcoming AI events has triggered a surge of enthusiasm, leading to a revival in AI tokens.
Events such as the Enterprise Productive Artificial Intelligence Summit in California and Tech & AI LIVE in London on May 21 are contributing to a global increase in interest in artificial intelligence technology. This renewed enthusiasm could lead to further gains for AI assets like Render (RNDR), often referred to as 'Crypto's Nvidia'.
Recently, this optimism has led to a surge in Render. Its price increased by nearly 50% last week, and its market value rose from $3.1 billion to $4.4 billion, surpassing $1 billion.
The AI and GPU connection could be beneficial for Render
Render is a decentralized GPU rendering platform that utilizes blockchain technology to connect artists and creators with GPU power. A notable feature of the project is that it allows users to rent out unused GPU processing power to others in need of service delivery. Render aims to democratize access to high-performance computing resources by establishing a global decentralized processing network.
Similarly, Nvidia, a leading GPU manufacturer, shares market and industry similarities with Render. Both organizations significantly benefit from the increasing interest in artificial intelligence technologies.
In summary, Render offers advantages such as lower costs compared to traditional rendering services and the utilization of underused GPU power. Additionally, it provides a decentralized alternative to central processing farms, increasing flexibility and reducing potential points of failure.
RNDR price chart
At the time of writing, RNDR was trading at $11.52 following a positive increase of 9.52% over the last 24 hours. These gains reached 44.33% over the past week, while the monthly performance remained green after a rise of 28.63%.
It is uncertain how the upcoming AI events will affect RNDR's price and whether it will surpass its all-time high of $13.15.
