Giant
chipmaker
Nvidia
(NVDA)
beat
its
already
lofty
fourth-quarter
earnings
expectations,
boosting
the
broader
equity
markets
and
artificial
intelligence
(AI)
–
related
tokens.
Nvidia
said
on
Wednesday
that
its
fourth-quarter
earnings
per
share
were
$5.16,
beating
the
average
analyst
estimate
of
$4.59
per
share,
according
to
FactSet
data.
The
chipmaker
also
posted
revenue
of
$22.1
billion,
which
came
in
higher
than
Wall
Street’s
expectation
of
$20.4
billion.
AI
Tokens
surged
after
Nvidia’s
earnings.
SingularityNet
(AGIX)
was
up
over
20%,
while
FetchAI’s
(FET)
is
up
over
10%,
and
Render’s
(RNDR)
is
up
8%.
The
overall
marketcap
of
AI
tokens
has
surpassed
$16.5
billion,
according
to
CoinGecko
data.
In
comparison,
the
CoinDesk
20
(CD20),
a
benchmark
for
the
biggest
and
the
most
liquid
cryptocurrencies,
is
down
2.7%.
“Accelerated
computing
and
generative
AI
have
hit
the
tipping
point.
Demand
is
surging
worldwide
across
companies,
industries
and
nations,”
said
Jensen
Huang,
founder
and
CEO
of
NVIDIA.
Nvidia
also
forecast
first-quarter
revenue
of
$24
billion,
beating
analysts’
estimate
of
$22.2
billion.
Read
more:
Nvidia’s
Hotly
Anticipated
Earnings
May
‘Trigger’
Bitcoin
and
Crypto
Correction,
Analyst
Says
The
beat
comes
as
shares
of
the
maker
of
chips
that
have
fueled
the
artificial
intelligence
(AI)
revolution
surged
more
than
200%
over
the
last
year,
taking
the
market
cap
of
the
company
to
nearly
$1.7
trillion
at
one
point,
topping
the
value
of
tech
giants
Amazon
and
Google.
The
rally
has
been
so
hot
that
Goldman
Sachs
even
called
it
“the
most
important
stock
on
planet
earth.”
The
shares
of
the
chipmaker
rose
more
than
7%
in
post-market
trading
on
Wednesday,
while
S&P
500
futures
gained
0.5%
and
bitcoin
(BTC)
was
down
1.2%.
UPDATE
(Feb.
21,
23:40
UTC):
Updates
headline
and
story
to
reflect
a
surge
in
AI-linked
token
prices.
