FET, TAO, and other AI tokens rally as Nvidia surpasses Apple

AI tokens FET, TAO, RENDER and NEAR recorded double-digit gains as NVidia, the world’s largest chipmaker, overtook Apple in market valuation.

Artificial intelligence technology giant Nvidia reclaimed its position as the world’s largest company, with its shares rising by 2.84%, outpacing major technology rivals Apple and Microsoft.

Nvidia’s market cap was $3.43 trillion at the time of this writing, while Apple and Microsoft were $3.38 trillion and $3.06 trillion, respectively.

Nvidia has seen its shares rise more than 190% this year; Rapid sales growth and continued investment in generative AI-accelerated computing technologies have nearly tripled. In the past month alone, Nvidia shares are also up over 9.5% and are currently trading at $139.91, per Google Finance data.

NVIDIA’s success is largely due to its role as the backbone of the AI ​​revolution, powering machine learning and productive AI applications across industries, particularly with its advanced GPUs like the H100 and the upcoming H200 series. These GPUs have become the essential infrastructure for AI training, making NVIDIA indispensable for technology companies and institutions investing in AI.

Following Nvidia’s recent success, many AI-focused cryptocurrencies are on the rise, reflecting a recurring trend where major developments involving the chipmaker trigger bullish rallies in the AI-crypto market.

As previously reported by crypto.news, many of these tokens saw gains in September after Nvidia announced a partnership with Chinese tech giant Alibaba Cloud. Similarly, Clore AI, a blockchain-based project aiming to capture the GPU rental market, was spotted at the Nvidia rally earlier this month.

FET, the native token of the Artificial Super Intelligence Alliance, increased by 21.8% this time in the last day; This reversed after seven days of price declines, increasing the market capitalization to $3.65 billion.

Bittensor (TAO), a decentralized artificial intelligence platform, is up 19.4%, returning to price levels last seen on October 30, with its market cap reaching $3.76 billion. Other AI tokens such as Render (RENDER), NEAR Protocol (NEAR), The Graph (GRT) and Akash Network (AKT) gained 13.6%, 13.8%, 11.6% and 9.5% respectively.

The recent surge in AI tokens pushed the total market cap to $28.5 billion, up 16.8% from the previous day, according to data from CoinGecko.

AI crypto tokens may be poised for further gains as NVIDIA reached a major milestone by replacing Intel in the Dow Jones Industrial Average, ending the rival chipmaker’s 25-year run on the stock index on November 8.

Alongside the rally powered by NVIDIA, Bitcoin’s (BTC) recent high of $75,358 has injected new momentum into the crypto market, amplifying gains in AI-focused tokens and reinforcing the sector’s upward trajectory.