• Nvidia's earnings report on Wednesday is expected to show strong earnings and revenue growth driven by demand for artificial intelligence.

  • Nvidia's stock closed at an all-time high of $953.86, with significant gains year-to-date and over the 12-month period.

  • Positive earnings from Nvidia could boost #AI tokens like $NEAR , $RNDR , $GRT , and #INJ .

As Nvidia prepares to release its much-anticipated earnings report this week, both traditional finance (TradFi) and cryptocurrency markets are bracing for a shock. The chip giant’s performance is expected to have far-reaching implications, especially for AI tokens in the crypto space. Here’s what you need to know about Nvidia’s earnings and their potential knock-on effects on the market.

Nvidia's earnings: What to expect

Nvidia (NVDA), the leading artificial intelligence chipmaker, is set to report its earnings on Wednesday. Investors around the world are eagerly awaiting the report, expecting surging demand for artificial intelligence to drive strong earnings and revenue growth in the next quarter.

Nvidia, which has a market capitalization of more than $2.38 trillion, has seen its shares soar to $953, up 200% over the past year and nearly 100% so far this year.

Analysts predict that Nvidia's sales could surge nearly fourfold to $24.6 billion in the April 2024 quarter, and earnings could grow fivefold to $5.60 per share. The company's guidance calls for sales between $23.5 billion and $24.5 billion. The impressive growth demonstrates the scalability of Nvidia's artificial intelligence chips, and the stock closed at a record $953.86 on Tuesday.

However, Bloomberg consensus data shows that Nvidia's earnings may have increased by more than 400% last quarter, with revenue soaring 242%. Analysts predict revenue growth of about 100% and earnings expansion of more than 120% in the second quarter.

Impact on the cryptocurrency market

Nvidia’s earnings report is expected to have a significant impact on the cryptocurrency market, especially AI tokens. AI tokens are digital assets that support AI-based projects, applications, and services, such as decentralized AI marketplaces, AI-driven trading algorithms, and AI-driven decentralized autonomous organizations.

It is expected that the prices of top AI tokens such as Nera Protocol (NEAR),#Render(RNDR), The Graph (GRT), and Injective (INJ) will surge on Nvidia’s strong performance. These tokens are not only used for transactions within the AI ​​platform but also give holders governance rights.

As Nvidia’s positive earnings outlook boosted confidence, the AI ​​token has moved into the green trading zone, indicating growing investor interest and optimism.#3friends


原文：@Mustafa Mulla
Compiled by: 3friends