- Nvidia and Alibaba Collaboration
- Growth Rates of Key AI Tokens
- Impact on the Crypto Market
AI-related cryptocurrencies recorded impressive gains following the announcement of a partnership between Nvidia and Alibaba.
Nvidia and Alibaba Collaboration
Two days ago, Nvidia and Alibaba Cloud announced a collaboration to improve the autonomous driving industry in China. Alibaba's technology backbone has integrated its large multimodal models into Nvidia's Drive AGX Orin platform for driverless vehicles.
Growth Rates of Key AI Tokens
According to CoinGecko, AI tokens recorded a 5.9% surge over the past day. Their cumulative market cap currently sits at $28.9 billion with a daily trading volume of $2.77 billion. NEAR Protocol is leading the category with a $5.3 billion market cap and a current trading price of $4.85. Artificial Superintelligence Alliance also gained almost 5% over the past day and is trading at $1.66. The top gainer was Bittensor, which rallied 18% to a price of $538 and a market cap of just under $4 billion.
Impact on the Crypto Market
The surge in AI token prices came two days after the announcement of the Nvidia and Alibaba partnership. Historically, AI tokens have shown positive movements following major announcements from Nvidia. Analysts noted that Nvidia stock closed Friday, Sept. 20, with a 1.59% decline, but the partnership with Alibaba may bring positive sentiment to the market. Additionally, U.S. presidential candidate Kamala Harris hinted at creating an 'opportunity economy' for AI and digital assets in the U.S.
The partnership between Nvidia and Alibaba has had a significant impact on the AI cryptocurrency market, showcasing impressive results over the past day.
