$NEAR #7 days before the Nvidia report: what AI tokens to monitor

In a few days, Nvidia will submit its income report for the first financial quarter of 2024. Given the strong reputation of the chip maker and the boom in the AI sector, analysts ' expectations are very high.

Crypto-enthusiasts believe that a strong report will encourage interest in AI-related tokens.

The Nvidia report could spur interest in AI tokens

Deutsche Bank analysts predict that Nvidia will continue to produce impressive results thanks to the growing demand for AI computing power. Despite some decrease in orders before Blackwell, Nvidia ' s prospects remain strong.

Experts appreciated Nvidia ' s technological strategy and believe that the enthusiasm around artificial intelligence will lead to another successful quarter. However, they noted the change in investor sentiment and kept the Nvidia stock rating at the level of “keep”.

“It seems that investors have become more demanding to raise earnings against AI this quarter, and we believe that their fundamental strength is already well understood”, Deutsche Bank noted.

Wells Fargo analysts have proved to be much more optimistic. They expect revenues from data centres to $23 to 24 billion, which exceeds Wall Street expectations of $21.1 billion. This has led to an increase in the target price of Nvidia shares from $970 to $1,150.

Price Dynamics Nvidia. Source: TradingView

As Nvidia prepares for the income report, the participants of the crypto community are actively discussing AI tokens that can show growth. Crypto Rand emphasized the potential impact of the event on coins such as Render (RNDR). The long-awaited launch of OpenAI GPT-4o also contributes to the support of the AI narrative.

A popular analyst at The Crypto Dog recommends that you look at NEAR, noting its strength.#NEAR🔔 #binance