AI coins market cap hits ATH following better-than-expected Nvidia’s earnings report

AI-focused cryptocurrencies rebounded last week following Nvidia’s extremely bullish quarterly sales report that beat estimates.

NEAR Protocol (NEAR), the largest AI coin by market cap, traded at $6.67 per coin at the time of writing, up 20% in the last 7 days. Internet Computer (ICP), Bittensor (TAO), FET and SingularityNET (AGIX) gained 26.4%, 20.6%, 20.4% and 21.7%, respectively, during the same period.

Meanwhile, other AI tokens such as Qubic (QUBIC), Virtuals Protocol (VIRTUAL), Grass (GRASS), and Livepeer (LPT) recorded much higher gains of 79.5%, 61%, 58%, and 41.9% respectively.

All these gains helped the total AI coin market cap reach an all-time high of $42.19 billion.

The AI ​​sector rebounded after Nvidia’s better-than-expected third-quarter earnings report; This report revealed record quarterly sales of $35.1 billion, beating previous estimates by $32.5 billion.

During a third-quarter call with investors, Nvidia CEO Jensen Huang highlighted a significant increase in demand for the company’s newest Blackwell chip. He added that the increase in demand has raised expectations to exceed the previous forecast of $7 billion in revenue for the 4th quarter of 2025.

Nvidia’s shares are up over 180% this year; has nearly tripled thanks to strong sales growth and its commitment to productive artificial intelligence and accelerated computing technologies.

Nvidia share price | Source: Google Finance

Analysts at Citi have Nvidia on “positive catalyst watch” and predict that its shares could rise as much as 27% in the next 90 days, hitting their $175 price target, driven by rising Blackwell chip sales as 2025 approaches.

AI-related cryptocurrencies frequently rise on bullish news about Nvidia, as previously reported by Crypto.news; Many of these tokens posted gains in November after Nvidia briefly overtook Apple as the world’s most valuable company.

This time, AI-related money has also benefited from policy changes under the US administration, which plans to appoint an “AI Czar” to centralize AI policy and strengthen the country’s leadership in transformative technology.