AI coins surge on news of NVIDIA's Intel investment

JOON HYOUNG LEE

Summary

It reported that major AI-themed cryptocurrencies are surging on news of NVIDIA's investment in Intel.
NEAR Protocol, BitTensor, and Fetch.ai — AI coins — rose by 10.65%, 6.35%, and 6.55%, respectively.
Crypto outlet CoinDesk said NVIDIA's investment could affect cryptocurrency market sentiment and the AI theme more broadly.

*Jensen Huang NVIDIA Chief Executive Officer (CEO)*

AI-themed cryptocurrency prices are surging on news of NVIDIA's large investment in Intel.

According to CoinMarketCap on the 19th, NEAR Protocol (NEAR) is trading at $2.96, up 10.65% from the previous day as of 12:07 AM. NEAR Protocol is an AI agent project and has the largest market capitalization among AI-themed cryptocurrencies.

Other AI-themed cryptocurrencies such as BitTensor (TAO) and Fetch.ai (FET) are also showing gains. Specifically, BitTensor is trading at $369.1, up 6.35% from the previous day as of 12:07 AM. At the same time, Fetch.ai is trading at $0.6721, up 6.55% from the previous day.

NVIDIA announced on the previous day (18th) that it will purchase $5 billion worth of Intel common stock at $23.28 per share. NVIDIA's stake in Intel is estimated to be around 4%. NVIDIA will use this investment as an opportunity to jointly develop AI semiconductors with Intel.

Regarding this, U.S. crypto outlet CoinDesk said, "For the cryptocurrency industry, NVIDIA's performance is one of the indicators that reflects market sentiment," adding, "(NVIDIA's investment in Intel) can be reflected in the cryptocurrency market more broadly than just the AI theme."

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