Worldcoin, the controversial cryptocurrency linked to OpenAI CEO Sam Altman, has skyrocketed after hype around artificial intelligence was revived by chipmaker Nvidia's huge fourth quarter.
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Nvidia reported revenue of $22 billion, up nearly 270% from the same period a year earlier and shattering already high Wall Street expectations, as its CEO hailed the “tipping point” in AI-driven computing.
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“Optimism in the cryptocurrency market remains very evident with a notable catalyst being Nvidia’s impressive earnings report,” Mikkel Mursch, founder of digital asset investment fund Ark36, said in email comments. “The chip maker's fourth-quarter earnings beat expectations, leading to a rally in AI tokens in particular.”
The price of the global currency has risen 300% over the past month, recovering from a decline seen last week, as investors worried that the hype around artificial intelligence was overblown.
Other AI-related cryptocurrencies, such as Singularitynet and fetchAI, are rising along with it, bringing the combined market value of AI-powered cryptocurrencies to $16.5 billion, according to CoinGecko data.
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“The cryptocurrency market rebounded during the overnight session, supported by a return of optimism in stocks following Nvidia's upbeat report,” Alex Kuptsikevich, chief financial analyst at FxPro, said in email comments.
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