AI Cryptocurrencies Surge Amid Nvidia’s Record Rally, Presale Project WienerAI Showing Promising Expansion

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The world of artificial intelligence (AI) cryptocurrencies has hit fever pitch today, with the sector experiencing a 6.6% surge in total market capitalization. This bloom is not uniform across the board, for several projects currently outshine the rest. Fetch.ai, SingularityNET, and Ocean Protocol, have each witnessed a rise of over 20%, while the newly introduced presale project named WienerAI is also showcasing promising expansion.

This groundbreaking growth is inextricably linked to chip manufacturing giant Nvidia’s recent rally. Nvidia, now globally renowned as the world’s most valuable company, has dethroned Microsoft to claim the prestigious spot. Its stock price has seen an impressive ascent this year, largely fueled by the burgeoning demand for AI-related computational solutions. This overall trend inevitably benefits AI cryptocurrency prices. Nvidia’s impressive run in the market shows up in the numbers, with its stocks trading at $138.5 per share, marking a 3.5% uptick today, a 43% rise this month, and an astonishing 209% surge this year. Worth over $3.3 trillion, Nvidia’s market cap now astonishingly surpasses the entire cryptocurrency market and trumps the GDP of all countries except six.

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In light of this, Chris Penrose, the Global Head of Business Development for Telco at Nvidia, predicts further boom in the sector. Shedding light on this at a recent event in Denmark, Penrose said, “The generative AI journey is really transforming businesses and telcos around the world. We’re just at the beginning.”

There is reminiscent of a cutthroat ‘California Gold Rush’ like competition unfolding in the AI’s application layer. Today’s tech titans- Microsoft, Alphabet, Meta, and Apple battle it out to design and deliver the next game-changing product. This competition, however, bodes well for Nvidia, with its microchip sales serving as equivalent to the profitable picks and shovels in the Gold Rush.

Transitioning focus back to crypto, Nvidia’s primary data center horse chips ring in at $10,000, but training an AI model can be dramatically more expensive. Lambdalabs estimates that just a singular iteration of training for ChatGPT-3 could cost as much as $4.6 million, a figure that multiplies exponentially for more advanced iterations.

Projects such as Render and Bittensor are assisting startups in overcoming these exorbitant costs. They allow AI engineers to dive in with minimal or even no initial costs through distributed computational networks. Likewise, other ventures like Fetch.ai are using crypto AI to provide legacy businesses with automated AI bots capable of executing repetitive tasks.

An intriguing new addition to the roster of AI-themed cryptocurrencies is WienerAI. This product, currently in its presale phase, is attracting considerable attention and has accumulated $6 million so far. WienerAI offers a trading bot, which is supercharged with AI and camouflaged behind a meme coin exterior. This AI bot aims to boost traders’ decision making by scanning the web for the most lucrative trading opportunities.

WienerAI’s use case has piqued the interest of investors and analysts alike. Crypto Wire, for example, recently recognized WienerAI’s immense potential, associating it with the potential of a 100X increase. Similarly, the notable CryptoNews YouTube channel shared a video discussing the project, signaling that WienerAI is catching attention of heavyweights in the industry.