In NVIDIA, artificial intelligence coins clashed.

Artificial intelligence-based coins created panic as the stock price of Nvidia (NVDA) increased by more than 7% on May 28th but experienced a decline.

Popular crypto analyst Matthew Hyland, in a post dated May 28, wrote "NVIDIA is rising, AI coins are quiet now but don't expect this to last long". The analyst's statement inspired confidence in both the artificial intelligence industry and AI coins.

NVIDIA has surged, selling pressure on artificial intelligence coins.

Nvidia is producing computer chips that are increasingly used by artificial intelligence companies to run their artificial intelligence models. Cryptocurrency investors see NVIDIA stock as a critical factor in the price movement of artificial intelligence coins.

According to Google Finance, NVIDIA closed May 28th at a record high of $1,140 with a 22% increase in the last five trading days. The stock has seen a growth of approximately 137% since the beginning of the year. Nvidia's first-quarter revenue saw an 18% increase compared to the fourth quarter of 2023, reaching $26 billion with a 262% increase compared to the previous quarter, which is approximately 5.6% below analyst expectations.

By the way, some of the largest artificial intelligence coins according to market value did not follow Nvidia and experienced a decline last week. According to CoinMarketCap, Render (RNDR), Fetch.ai (FET), and SingularityNET (AGIX) respectively experienced a decrease of 8.14%, 11.39%, and 11.19% in the last seven days.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.

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