Nvidia’s stock rose to great heights with a major upward rally. After a somewhat weaker period, one of the largest manufacturers of graphics processors seems to be back on track. The question now is whether AI crypto will also reap the benefits of this.
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Nvidia share rises by 15%
On April 19, Nvidia shares closed the day with a closing price of $762. Since that day, a significant recovery has been initiated, with an increase of no less than 15%. Yesterday, the stock closed at a closing price of $877 after rising 6.18%.
During this rise, a large sum of money has been invested in the share. In the period between April 19 and 26, the stock market value increased by approximately $320 billion. These large amounts in such short periods are exceptional. The question is what else is in store for Nvidia.
Positive momentum on AI crypto
At the end of February, Nvidia shared the results of the last quarter of last year. The company had performed exceptionally well. She achieved a profit of $22.1 billion and $12.3 billion in revenue. This was an increase of 265% and 769% respectively. This positive reporting also had an increasing effect on the value of AI crypto coins.
Many investors are probably waiting for last quarter’s results before investing again. Many crypto traders naturally hope that the results will be positive and that they will also provide an upward effect for the AI crypto coins.
Bottom reached for falling AI crypto
In February, shortly after the strong results were announced, AI-related cryptocurrencies rose 9%. Despite the falling price of several coins, many traders are hopeful of a positive impulse.
If the first quarter results are also good for Nvidia, this could easily trigger a rise in AI-related cryptocurrencies. Also crypto trader “CryptoGodJohn” https://twitter.com/CryptoGodJohn/status/1783894603126702248 that the bottom has been reached for these cryptos and that it will be exciting weeks towards the announcement of Nvidia’s first quarter results.
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