AI Tokens Nosedive as SoftBank Sells NVIDIA Stake
SoftBank has dumped its $5.83 billion NVIDIA stake to expand its position in OpenAI, a move likely impacting AI tokens.
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SoftBank has dumped its $5.83 billion NVIDIA stake to expand its position in OpenAI, a move likely impacting AI tokens.
Circle’s market cap has climbed above $62.9 billion, now surpassing the value of its own USDC stablecoin supply near $61 billion. The surge follows Senate approval of stablecoin regulation legislation.
This week started with a set of chaotic events that raised and crushed the US stock market in less than one hour, thanks to mainstream rumors.
The appellate court ruled that investors had sufficiently alleged Nvidia knowingly or recklessly made false statements.
Other amicus briefs have also been filed in support of Nvidia investors.
The US semiconductor-related stock prices tumbled in the past 24 hours on reports of regulatory oversight, thus impacting the entire AI-related crypto projects.
Despite the short-term decline in AI tokens, the ongoing developments in the AI sector are expected to fuel a long-term surge in AI-related cryptocurrencies.
The anticipation of Nvidia’s Q2 earnings report on August 28 has further fueled this positive sentiment.
Nvidia is poised to publish its Q2 earnings report on Wednesday, and AI tokens are recording massive gains.
The Digital Chamber has backed Nvidia in a Supreme Court battle with investors, warning that the court’s decision could have wide-reaching implications for the entire crypto industry.
The correlation between Nvidia stock and Bitcoin has been remarkably strong since both bottomed out in late 2022.
Grok 2 may have taken inspiration from iconic AI characters such as JARVIS from Iron Man and the guide from The Hitchhiker’s Guide to the Galaxy.
Nvidia, an American multinational, saw its stock plummeting, losing over $500 billion in just three days.
Despite the current dynamics, investors are questioning whether this is a temporary buying opportunity or a signal of a local top.
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