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AI Crypto Soars After Nvidia’s Record-Breaking First Quarter; Rendering (RNDR) leads the way
On Wednesday, Nvidia Corp. (NASDAQ: CORP), a leading global provider of artificial intelligence (AI) software and hardware products, reported its revenue for the first quarter ended April 28 for fiscal year 2025. According to the announcement, Nvidia raised a whopping $26 billion, an 18% increase from last quarter and a whopping 256% compared to the same period last year.
Why should you care? Because it can impact your portfolio! Keep reading to find out how.
Data Center Division leads the way
Nvidia’s data center division stole the show, raising an impressive $22.6 billion. That’s a 23% jump from last quarter and a mind-boggling 420% jump from last year. Building on this success, the company announced a whopping 150% increase in its quarterly cash dividend, now at $0.01 per share, following a ten-for-one stock split.
As a result, NVDA shares gained more than 6 percent in trading on Wednesday, trading around $1,007. Notably, NVDA shares are up more than 91% year-to-date.
AI Crypto Boom: Riding the Nvidia Wave
In recent quarters, crypto AI projects have benefited significantly from Nvidia’s impressive stock market growth performance. According to the latest market data, the crypto AI industry has a market value of around $35.4 billion and an average daily trading volume of around $2.2 billion.
In the realm of AI-focused crypto projects, there are some heavyweights making waves. Projects like Fetch.ai (FET), Render (RNDR), The Graph (GRT), Bittensor (TAO), and SingularityNET (AGIX) are at the forefront, ready to capitalize on Nvidia’s surge for their own growth.
RNDR’s impressive outbreak
One project in particular, Render (RNDR), is catching everyone’s attention with increased whale activity. A major RNDR player recently transferred a staggering 4.89 million units valued at over $52 million to an undisclosed portfolio. This move caused RNDR’s daily trading volume to skyrocket by a staggering 107% to around $836 million during Thursday’s Asian session.
As Nvidia continues to push the boundaries of AI, the effects of its success are rippling across industries, shaping the future of technology in ways we have only begun to imagine.
What do you think – is AI cryptography the next big thing?