AI-related tokens slumped as Nvidia’s Q2 earnings beat Wall Street estimates but failed to impress investors.
Major artificial intelligence-related cryptocurrencies tumbled following the release of Nvidia’s second-quarter 2024 earnings, which beat estimates but failed to impress investors.
Artificial Superintelligence Alliance (FET) fell approximately 7.8% to $1.1663 just hours after Nvidia’s earnings release. Bittensor (TAO) fell 4.5% to $295.22, and Render (RNDR) fell 6.8% to $5.47, according to CoinMarketCap data.
Despite Nvidia’s $30 billion revenue in Q2 2024, a 15% increase from Q1 and around $1.32 billion above previous estimates, it seems it wasn’t enough.
