Artificial intelligence is dominating the headlines this week as companies like Nvidia surge on massive AI chip demand.
Moreover, with crypto tokens like Worldcoin (WLD) and Fetch.ai (FET) posting triple-digit returns in the past 14 days, investors are searching for the next big AI crypto play.
New ICO Scotty the AI (SCOTTY) could be that play – with plans to launch on exchanges once its limited-time presale phase ends.
Nvidia’s AI Chips Fuel Record Growth & $60bn Annual Revenue
Nvidia is riding high on a wave of AI hype at the moment.
The chipmaker’s market cap now exceeds Meta Platforms and Berkshire Hathaway, becoming the fifth most valuable company in the US.
This incredible rise is attributed to the enormous demand for Nvidia’s GPUs to power AI applications.
The company operates a comprehensive AI platform that enables breakthroughs in fields from disease prevention to generative AI.
Nvidia’s latest earnings report, released yesterday, highlighted the boom in demand.
In the last quarter, Nvidia’s revenue hit $22.1 billion, up 22% sequentially and a whopping 265% annually.
For fiscal 2024, revenue grew 126% to $60.9 billion.
Earnings per share (EPS) also soared over 765%, with CEO Jensen Huang saying that “accelerated computing and generative AI have hit the tipping point.”
Data center revenue, mainly from selling AI chips, has rocketed over 400% year-over-year.
Ultimately, the incredible performance of Nvidia showcases the exponential growth of AI as a revolutionary technology.
As Nvidia powers innovation in the AI sector, crypto investors are watching the wave, too.
Many AI tokens have posted triple-digit returns in the past week, with the sector up over 6% on average.
Since early February, the market cap for AI cryptos has more than doubled, from $7 billion to $18 billion.
Driving this growth is enthusiasm for AI’s potential.
OpenAI’s new text-to-video generator, Sora, sparked a flurry of interest last week, with Sam Altman demonstrating its breathtaking capabilities.
Historical data shows AI tokens spike each time OpenAI releases a new product, and this time was no different.
Ethereum co-founder Vitalik Buterin also highlighted how AI could help solve some of crypto’s biggest problems, bringing even more attention to the sector.
Combine this with Nvidia’s blowout earnings report, and the momentum for AI cryptos shows no signs of stopping.
Scotty the AI Presale Raises $500k as Investors Bet on the Next AI Unicorn
As AI crypto mania reaches a fever pitch, all eyes are now on emerging projects that could be the next breakout stars.
One such example is blockchain startup Scotty the AI, which is gaining tremendous buzz despite being a new market entrant.
The core premise of Scotty the AI is exciting – combining AI and crypto to power features like a market insights chatbot and an intelligent token swap platform.
Also, SCOTTY holders can obtain up to 199% per year in yields by staking their tokens.
The project’s multi-stage presale has raised over $510,000 so far, indicating strong investor appetite for its features.
Yet, as the AI crypto sector heads towards a $20 billion valuation, the question is whether SCOTTY could be the next token to explode.
While the token is still in its ICO stage, several YouTubers have highlighted SCOTTY’s potential, exposing it to their large audiences.
For example, Michael Wrubel, who has over 310,000 subscribers, said it’s his “#1 meme crypto for 2024.”
Adding to the buzz around SCOTTY, the project has begun to attract a grassroots community on social media.
Scotty the AI’s Twitter and Telegram channels have seen rapid follower growth and now boast over 4,400 members combined.
Time will tell whether Scotty the AI can match the hype surrounding it, but with the presale continuing to hit significant funding milestones, the future looks exceedingly bright for this AI token.
#NVIDIA #Coins #Surge #Token #Pump
#bitcoinnews
