Nvidia Earnings Send AI Tokens Higher, Worldcoin Reaches ATH

Taking the lead in terms of gains is Worldcoin’s WLD, which is up 40% on the day and almost 170% over the past 7 days. The token touched a new all-time high of $8.85 earlier and was trading at $8.54 at press time. Worldcoin was co-created by OpenAI founder Sam Altman and thus often associated with AI-related projects. SingularityNET {{AGIX}}, a decentralized AI marketplace, saw its token climb 43%. FetchAI {{FET}} was up 18%. Source

Bitcoin (BTC) Prices Back Over $51K, MATIC Leads Majors Drop; Nvidia Earnings Reignites AI-Token Rally

Bitcoin (BTC) fell to as low as $50,700 late Wednesday, while ether (ETH) dropped just under $2890 before reversing some losses. Polygon’s MATIC led losses among crypto majors, slipping 7%, while Cardano’s ADA and XRP were down as much as 5%. Meanwhile, the CoinDesk 20 Index (CD20), a benchmark for the biggest and most liquid cryptocurrencies, dropped 1.2%. Source

Nvidia plans Vietnam expansion for AI development

Nvidia, one of the market’s leading developers of artificial intelligence (AI) chips, announced its intentions to expand partnerships in Vietnam and set up a base in the country after a visit from the company’s CEO.  Jensen Huang, Nvidia CEO, said Vietnam is already a partner of the company, as it is home to millions of its clients and Nvidia has already invested $250 million in Vietnam. “Vietnam and Nvidia will deepen our relations, with Viettel, FPT, Vingroup, VNG being the partners Nvidia looks to expand partnership with.” He also said…

Meta’s AI boss says there’s an ‘AI war’ underway and Nvidia is ‘supplying the weapons’

Meta AI boss Yann LeCun sounded off on the industry-wide state of artificial intelligence and quantum computing during a recent event to celebrate the 10 year anniversary of the founding of Meta’s Fundamental Artificial Intelligence Research (FAIR) team.  During LeCun’s commentary, he commented on Nvidia’s current stranglehold on the AI hardware industry, the likelihood human-level AI will emerge in the near future, and why Meta isn’t currently pursuing quantum computing alongside its competitors. By “not any time soon”, I mean “clearly not in the next 5 years”, contrary to a…

Nvidia Delays Launch of AI Chip for China amid Export Compliance Challenges, NVDA Stock 1% Down

Nvidia is also working on two other chips, the L20 and L2, for the Chinese market. According to the Reuters report, one of the chips, L20, is not facing delays and is expected to launch according to the original schedule. Nvidia Corp (NASDAQ: NVDA), the California-based AI chip giant, has notified its Chinese customers of a delay in the launch of its new artificial intelligence chip, H20, designed to comply with the latest United States export regulations, Reuters reported Friday, citing two sources familiar with the matter. The country’s tightened…

Nvidia posts record $18B third quarter revenue, cites generative AI as primary driver

Nvidia announced third quarter revenue for 2023 in the amount of $18.12 billion, a company record, as the firm’s market cap now reaches $1.22 trillion. The better-than-expected earnings follow a 12-month growth trend during which the company saw earnings increase by 34% over last quarter, and 206% over Q3 2022. While the company beat estimates, the strong quarter likely didn’t surprise investors or shareholders as the company’s stock recently spiked to an all time high of $499.60 per share. Nvidia founder and CEO Jensen Huang credited the growth to AI…

Nvidia Revenue for Q3 2024 Triples amid AI Boom but NVDA Stock Price Falls, Here’s Why

Amid exports restrictions on AI chips introduced by the US government, Nvidia expects a slowdown in the revenue growth in the ongoing Q4 quarter leading to a selling pressure on its stock. Investors in Nvidia Corp (NASDAQ: NVDA) displayed a measured response to its recent quarterly (Q3 2024) report, which exceeded the average analysts’ estimates but fell short of the heightened expectations from shareholders heavily invested in the artificial intelligence (AI) boom. Nvidia (NVDA) has released Q3 results that significantly exceeded Wall Street expectations. The chipmaker reported adjusted earnings of…

Microsoft, Salesforce, and Nvidia swoop in to hire OpenAI employees as walkout threats increase

OpenAI’s decision to fire CEO Sam Altman may have put the company’s future in jeopardy.  Reportedly, a lion’s share of its employees have threatened to walkout unless the ousting is reversed. Complicating matters further, a number of executives from big tech orgnanizations have offered jobs to employees considering leaving. To my partners at OpenAI: We have seen your petition and appreciate your desire potentially to join Sam Altman at Microsoft’s new AI Research Lab. Know that if needed, you have a role at Microsoft that matches your compensation and advances…

Nvidia (NVDA) Stock Rallies to New ATH amid High Impact News Including Today’s Q3 Earnings Release

Nvidia is expected to report revenue growth in the Q3 2023 earnings result today, thus boosting shareholders’ confidence amid high demand from AI companies. After getting trapped in a correction mode in the past two months, Nvidia Corporation (NASDAQ: NVDA) stock has set a new all-time high of around $504.09 after a 20 percent spike during the last four weeks. The American multinational tech company that has dominated the semiconductor chip industry amid the artificial intelligence (AI) revolution has attracted major investment in the past year to reach $1.22 trillion…