SingularityNET (AGIX) Soars 45% in 24 Hours As AI Chipmaker Nvidia Profits Surge by Triple-Digits
An artificial intelligence (AI)-focused altcoin is skyrocketing as tech giant Nvidia’s profits leap by triple digits.
According to a press release detailing Nvidia’s Q4 financial report, the AI chipmaker hauled in a revenue of $22.1 billion during Q4, up 23% from Q3 and 265% from a year ago.
News of Nvidia’s success preceded blockchain-based decentralized AI marketplace SingularityNET (AGIX) jumping about 45% in 24 hours, going from a price of $0.506 on February 21st to trading for $0.738 at time of writing.
“Nvidia today reported revenue for the fourth quarter ended January 28, 2024, of $22.1 billion, up 22% from the previous quarter and up 265% from a year ago.
For the quarter, GAAP (generally accepted accounting practices) earnings per diluted share was $4.93, up 33% from the previous quarter and up 765% from a year ago. Non-GAAP earnings per diluted share was $5.16, up 28% from the previous quarter and up 486% from a year ago.”
The data also reveals that Nvidia profited $12.3 billion during Q4, up a staggering 769% year over year.
As stated by Jensen Huang, founder and chief executive of Nvidia, in the press release,
“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.
Our data center platform is powered by increasingly diverse drivers – demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies.
Vertical industries – led by auto, financial services and healthcare – are now at a multibillion-dollar level.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post SingularityNET (AGIX) Soars 45% in 24 Hours As AI Chipmaker Nvidia Profits Surge by Triple-Digits appeared first on The Daily Hodl.
