RNDR Leads AI Crypto Market During Nvidiaâs Record Earnings
On Wednesday, Nvidia Corp. (NASDAQ: NVDA), a top provider of AI software and hardware, announced its first-quarter fiscal 2025 earnings.
The company reported $26 billion in revenue for the quarter, marking an 18 percent increase from the previous quarter and a substantial 256 percent rise compared to the same period last year.
Nvidia (NVDA) Reports Strong Growth and Stock Performance
Nvidia Corp. (NASDAQ: NVDA) announced impressive financial results for the first quarter of fiscal 2025. The companyâs total revenue reached $26 billion, marking an 18 percent increase from the previous quarter and a remarkable 256 percent surge year-over-year. Particularly, the data center segment showed outstanding growth, achieving $22.6 billion in revenue, up 23 percent from the prior quarter and over 420 percent compared to the same period last year.
In response to its robust performance, Nvidia has increased its quarterly cash dividend by 150 percent to $0.01 per share following a ten-for-one stock split. This news bolstered investor confidence, leading NVDA stock to surge over 6 percent in Wednesdayâs after-hours trading, reaching approximately $1,007 per share. Year-to-date, Nvidia stock has seen an impressive rally of over 91 percent, reflecting strong market optimism and investor interest in the companyâs growth prospects.
Surge in AI Crypto Projects Boosted by Nvidiaâs Market Growth
In recent quarters, AI crypto projects have seen significant gains due to Nvidiaâs strong performance in the stock market. The AI crypto industry now boasts a market cap of approximately $35.4 billion, with a daily average traded volume of about $2.2 billion, according to the latest market data.
Leading AI-focused crypto projects include Fetch.ai (FET), Render (RNDR), The Graph (GRT), Bittensor (TAO), and SingularityNET (AGIX), among others.
Recent data from market intelligence platform Santiment highlights increased whale activity in the AI-crypto sectors, particularly driven by Render (RNDR). A notable RNDR whale recently transferred 4.89 million units valued at over $52 million to an unknown wallet address.
Following this activity, RNDRâs daily traded average volume surged by more than 107 percent to approximately $836 million during Thursdayâs early Asia session. This spike underscores growing investor interest and trading activity in RNDR and other AI crypto assets amid Nvidiaâs market influence.
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