According to Cointelegraph: In an unforeseen turn of events, Render Token (RNDR) experienced an 11% surge after Render's Octane software received a fleeting mention in an Apple promo video. The boost came during a week already marked by significant price appreciation for RNDR.
Apple’s vice president of platform architecture, Tim Millet, in his keynote presentation, highlighted the performance of Octane, a 3D design software powered by Render Network, on the new iPad over a three-second span. This reference grabbed the attention of traders and attributed to the upward swing in RNDR's price, as noted by various commentators.
D0c Crypto, a pseudonymous crypto trader, drew attention to RNDR's logo visible in the promo video in a May 7 post. Following Apple’s presentation on May 8, RNDR spiked 11%, contributing to the token’s overall 40% rise over the past week. According to CoinMarketCap, RNDR is currently trading at $11.16.
Other artificial intelligence (AI) tokens, including Fetch.ai (FET), The Graph (GRT), and SingularityNET (AGIX), have also registered gains this week. Observers note a general sense of investor "greed" as depicted by an 11-point bump in the Fear and Greed Index.
Ahead lies the Q1 2024 earnings report from Nvidia, a prominent GPU manufacturer, to be released on May 22. The performance of Nvidia shares has influenced AI token prices historically, hence traders will monitor AI tokens closely.
Highlighting an interesting correlation, when AI tokens dip, traders perceive a buying opportunity ahead of Nvidia's earnings report. For instance, following a slight dip in AI tokens in April, both Render and Fetch.ai saw a rise in their values.
With several AI tokens surging over the past week and Nvidia's stock hitting a 30-day high, AI tokens are under close watch.