SingularityNET (AGIX) Price Prediction as AI Cryptos Gain Momentum
AI cryptos are taking off amid ongoing breakthroughs and positive news in the AI space. SingularityNET (AGIX) is experiencing an impressive gain of almost 10% in the past 24 hours, for example, and is currently the second-largest AI cryptocurrency in terms of trading volume.
One breakthrough driving the dash to AI coins is the success of Nvidia and its stock. The Silicon Valley tech titan is on the brink of a landmark achievement after an impressive sales forecast and a spike in demand for its artificial intelligence (AI) processors.
The ambitious firm has set its sights on being the first-ever chipmaker to surpass a valuation of $1 trillion.
The latest surge in Nvidia's shares came in response to a bold $11bn sales prediction for the coming quarter ending in July, an estimate exceeding previous Wall Street forecasts by over 50%.
This has significantly bolstered Nvidia's market capitalization, bringing it close to the coveted $1 trillion mark. These strong financial figures underscore Nvidia's unique position in the industry as a leader in AI.
The company has cited an exponential surge in demand for computing power across several sectors, from cloud and internet companies to automotive, finance, healthcare, and telecoms.
Nvidia's high-powered H100 processor has become a sought-after resource, notably among tech giants and AI startups like OpenAI and Anthropic.
These entities have been raising billions in venture funding, further fueling the demand for advanced AI capabilities.
Notably, the firm's CEO, Jensen Huang, believes generative AI has become the main workload of data centers, prompting a shift towards accelerated computing.
As mentioned, cryptocurrencies that are related to artificial intelligence are also seeing a
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