Apple's recent mention of Octane, a 3D design software powered by Render Network, during its presentation of the M4 chip, ignited a surge in Render (RNDR) token value by 11 percent. Tim Millet, Apple's vice president of platform architecture, highlighted the software in his opening speech, drawing significant investor interest. This mention was hailed by many analysts as a catalyst for the rally that saw RNDR prices climb substantially last week.
The performance of Octane on the new iPad garnered attention from participants, with many expressing optimism about the prospects of professional rendering applications such as Octane.
Notably, crypto influencers like D0c Crypto pointed out the visibility of the RNDR logo in the presentation video, further fueling investor enthusiasm. The subsequent 11 percent price surge after the May 8 announcement contributed to RNDR's impressive 40 percent overall increase over the past seven days.
Echoing this sentiment, Mister Crypto assured his sizable following on May 9 that while Bitcoin faced a downturn, RNDR remained unfazed.
In parallel, the broader AI token market witnessed bullish momentum throughout the week. Fetch.ai (#FET) saw a rise of 12.88 percent, The Graph (#GRT) surged by 20.28 percent, and SingularityNET (AGIX) experienced a notable uptick of 16.18 percent. Investors are gearing up to closely monitor AI tokens in the upcoming weeks, particularly with Nvidia's first-quarter 2024 earnings report scheduled for release on May 22.
Historically, investors have linked the movement of AI tokens to Nvidia's performance, particularly evident in April when a slight decline in AI tokens preceded a surge, interpreted as strategic positioning ahead of Nvidia's earnings report in May.
As observed by crypto trader CryptoGodJohn, RNDR has surged by 33 percent since then, while Fetch.ai has seen a modest increase of 6.5 percent. Last week's rally in various AI coins coincided with Nvidia's shares hitting a 30-day high on May 6, starting the trading week at $921.40 according to Google Finance data.
