Nvidia’s strong Q1 earnings have led to a surge in AI-related stocks, while AI crypto has not experienced the same growth, leaving investors wondering if it’s a good time to buy. On May 22, Nvidia released its Q1 earnings report, which showed an 18% increase in revenue from the previous quarter and a 262% surge year-over-year. This exceeded analyst expectations of $24.6 billion. Despite the report being released after the NYSE market closed, Nvidia’s stock saw a 6.06% spike in after-hours trading, reaching $1,007 and pushing its market capitalization to over $2.5 trillion. Many investors anticipated that the positive earnings report would have a positive impact on AI-related cryptocurrencies, leading to a rally in AI-related projects. However, while tokens like Fetch.ai (FET), The Graph (GRT), Injective (INJ), Render (RNDR), and SingularityNET (AGIX) initially saw an increase in value, they have since started to retrace. This has raised the question of whether AI-related crypto tokens will benefit from the bullish sentiment surrounding AI, especially considering the success of Nvidia and other AI-focused companies in the stock market. Despite the initial retracement, there is potential for a rally in the future. For example, RNDR experienced a price spike 48 hours after Nvidia’s previous earnings report. This presents an opportunity for investors to enter the market and potentially see further gains following Nvidia’s earnings report. However, it’s important to note that the aforementioned AI crypto projects have a high market capitalization, limiting their potential gains. Traders seeking quick and significant gains may want to explore newer low-cap AI coins. One such coin is WienerAI ($WAI), a meme coin and AI companion that aims to become every crypto trader’s best friend. Unlike other meme coins, WienerAI offers real utility, with features like AI-enhanced trading advice, seamless swap functionality, and zero fees. Around 20% of $WAI’s supply is reserved for staking, and investors can currently earn a substantial 409% APY. This makes WienerAI one of the best passive income crypto gems. As with any investment, it’s important to remember that crypto is a high-risk asset class, and this article is provided for informational purposes only and does not constitute investment advice.
