AI Concept Coins Surge Ahead of NVIDIA's Expected Profit Report
Publication Time:2024-08-26 16:11:10
In the week leading up to NVIDIA's expected profit report, the market for AI concept cryptocurrencies saw significant gains. Among them, FET and TAO stood out with rises of 8.8% and 4.7%, respectively. This trend is driven by the optimistic market expectations regarding NVIDIA's performance. According to FactSet data, analysts generally predict that NVIDIA will achieve earnings per share of 65 cents this quarter, representing a 141% increase from the same period last year, while revenue is forecasted to reach $28.72 billion, an increase of 113% year-over-year. This marks NVIDIA's fifth consecutive quarter of triple-digit growth, demonstrating the company's strong momentum in the AI sector. Additionally, the market anticipates that the Federal Reserve may cut interest rates in September, which is expected to have a positive impact on the overall performance of the tech sector. Therefore, it is anticipated that the tech sector, especially AI concept cryptocurrencies, will see even stronger performance in the coming period.
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AI Concept Coins