Nvidia Beats Expectations, AI Coins Soar

Cryptocurrencies in the artificial intelligence category rose before Nvidia announced its annual report.

According to CoinGecko data, cryptocurrencies such as Fetch.ai (FET), Render (RNDR), Bittensor (TAO) and SingularityNET (AGIX) gained up to 5% in value on a daily basis.

AIOZ Network (AIOZ), one of the decentralized infrastructure projects, gained 7% in value after being listed in Nvidia's Accelerated Applications Catalog.

According to the statements made by Nvidia, the company's revenue in the first quarter was 18% more than in the last quarter of 2023. Nvidia beat analysts' expectations of $24.6 billion.

The founder of Near Protocol (NEAR), one of the Layer 1 networks, spoke at the Nvidia conference earlier this year. On a daily basis, the NEAR price also increased by approximately 2%.