- Nvidia surpasses Apple reaching $3.43 trillion in market cap.
- AI themed coins have surged by double digits in response to Nvidia’s milestone.
Over the past day, finance markets including crypto have experienced massive gains. With Bitcoin [BTC] hitting a new ATH of $74k, AI-related businesses have also surged to a historical record.
With the rising adoption and demand for Artificial Intelligence (AI), AI-themed companies, including Nvidia, have made significant gains challenging the existing status quo.
Source: Google Finance
Amidst this AI frenzy, Nvidia has risen in performance over the past year. During this period, Nvidia has surged by 205.81% becoming one of the most valuable companies in the world.
As such, over the past day, Nvidia soared by 2.8% to hit $3.43 trillion, flipping Apple as the world’s most valuable company. This leaves Apple in the second position with $3.38 trillion.
This comes barely a month after Nvidia surpassed Microsoft. According to Google Finance, the company’s stocks have surged by 190.45% YTD, and made the most gains in 2024 compared to other giants like Apple, and Microsoft.
AI coins soar
Source: Coinmarketcap
As expected, this surge in Nvidia stocks and market cap has had a massive impact on AI-themed cryptocurrencies.
For instance, AI coins such as Render and FET that are directly associated with Nvidia have made significant gains with Render surging by 15.57% in 24 hours and FET hiking by 16.77% over the same period.
Looking further, other AI coins have made significant gains with Bittensor rising by 18% to lead this AI coins upsurge. Equally, Internet Computer [ICP] soars by 11.54%. NEAR Protocol [NEAR] surged by 14.74% while Injective [INJ] surged by 15.15% over the past 24 hours.
Undoubtedly, as Nvidia continues to surge, this market confidence will directly reflect in AI-themed coins. As we have witnessed over the past day, the AI ecosystem has a direct impact on the crypto market especially when the whole market is gaining.
As such, as Nvidia rises, AI-themed coins are well-positioned to experience higher investor favorability as the market is currently shifting.
