Several AI tokens are up, and most of them can be safely acknowledged to Nvidia, surpassing Apple in terms of market cap. This has happened for the second time, and the AI segment is thrilled about it.
Reports on Tuesday showed the market cap of Nvidia surged to $3.43 trillion against $3.4 trillion of Apple. Its shares have also tripled in 2024, grounded on the confidence of investors who believe that its rise in the GPU and AI market is imminent.
The AI Token Surge
NEAR, for one, has jumped by 13.70% in the last 24 hours and is trading at $4.18 right now. However, it translates to a dip of 4.63% in the last 7 days. The collective market cap of AI tokens comes to $33.92 billion, out of which NEAR holds a stake of $5.12 billion.
Another factor that is contributing to the rise of NEAR plus other AI tokens is the projections for the US Presidential elections. Donald Trump is leading with 267 electoral votes, closer to the majority mark of 270, which would practically make him the President of the US.
FET, Artificial Superintelligence Alliance, has surged by 22.64% and is followed by INJ with a rise of 22.43%. Both AI tokens are two of the few top gainers in the segment.
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FET is exchanging hands at $1.40 – on the way to $2 by year-end. INJ is at $20.54 which could eventually convert to the price of $22.63. That would be a jump of 28.56% from the current value amid the volatility of 5.99%.
Every AI token is poised to surge. A lot depends on the future of Nvidia, too, which is linked to how fast its offerings can fuel their adoption. The current association is with the likes of OpenAI’s ChatGPT. Apple, on the other hand, is looking to make the best of its Apple Intelligence suite.
Internet Computer, or $ICP, is another AI token that is seeing an upward trajectory. It has soared by 12.15% to $7.97.
Other AI tokens that have responded well to the development of Nvidia surpassing Apple are TAO and RENDER. They are up by 18.09% and 12.71%, applicable in the same order. Their values are $506.98 and $4.89%, respectively.
Factors that are affecting the price of AI are also the integration of Artificial Intelligence into the segment along with data privacy and computational resources. Anything that can strengthen or make the AI sphere weak is more likely to affect the prices of AI tokens.
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The ongoing political scenario is at the top of the list because Donald Trump is seen as a pro-crypto leader who could bring better regulations for digital tokens that go beyond the realm of AI tokens.
Also Read: DOGE, MAGA, DMAGA & Other US Elections Themed Memecoins Rally
