Technology

A.I. cryptocurrencies jump after Nvidia reports booming artificial intelligence demand

Published

3 years ago

May 25, 2023

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Side face of AI robot by particle form.

Yuichiro Chino | Moment | Getty Images

AI-themed cryptocurrencies got a lift on Thursday from excitement around Nvidia and its increasing demand for chips that power artificial intelligence applications.

SingularityNET (AGIX) rose as much as 19%, according to CoinMarketCap, to 29 cents. Cortex (CTXC) rose 6% to 17 cents and Measurable Data Token (MDT) added 6.5% to reach 4 cents a coin. All of these tokens have a market cap of less than $40 million.

Fetch.ai (FET), with a market cap of $195 million, gained nearly 5% to trade at 23 cents.

Meanwhile, most of the rest of the cryptocurrency market, including bitcoin and ether, was flat.

Nvidia, A.I. and other investment ideas

“AI cryptocurrencies” refer to blockchain-based AI projects’ corresponding tokens. For example, Fetch.ai is dedicated to building infrastructure for “smart, autonomous services” in supply chain, finance, travel and more. Cortext aims to be the “first decentralized world computer capable of running AI and AI-powered dApps on the blockchain.”

Crypto traders got a sentiment boost from the rally in the S&P 500 and Nasdaq Composite, driven by Nvidia, which issued astounding sales guidance late Wednesday and cited demand for AI capabilities. Its projected sales for the second quarter of its fiscal 2024 were more than 50% above what analysts had expected.

In a certain pocket of the technology world, some market participants have long believed that the wild west of AI can benefit from blockchain technology and potentially be a positive catalyst for the crypto market at large. Specifically, as AI gets smarter and better at manipulating people’s identities on the internet, blockchain technology could potentially help using its ability to deploy digital identity solutions at scale.

That could be a long way down the road, however, as it’s still early days for both technologies.

Bitcoin and ether hovered around the flat line Thursday as investors remained focused on the ongoing debt ceiling negotiations heading into an extended holiday weekend. The minutes from the most recent Federal Reserve meeting, released Wednesday, also showed officials are divided over what the central bank’s next move should be when it comes to interest rate hikes.

Technology

Amazon had a very big week that could shape where its stagnant stock goes next

Published

2 hours ago

December 5, 2025

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Amazon had a very big week that could shape where its stagnant stock goes next

Technology

Meta acquiring AI wearable company Limitless

Published

3 hours ago

December 5, 2025

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Meta acquiring AI wearable company Limitless

Meta CEO Mark Zuckerberg wears the Meta Ray-Ban Display glasses, as he delivers a speech presenting the new line of smart glasses, during the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., Sept. 17, 2025.

Carlos Barria | Reuters

Meta is acquiring artificial intelligence wearable startup Limitless, the companies said Friday.

“We’re excited that Limitless will be joining Meta to help accelerate our work to build AI-enabled wearables,” a Meta spokesperson said in a statement.

Limitless makes a small, AI-powered pendant that can record conversations and generate summaries.

Limitless CEO Dan Siroker revealed the deal on Friday via a corporate blog post but did not disclose the financial terms.

“Meta recently announced a new vision to bring personal superintelligence to everyone and a key part of that vision is building incredible AI-enabled wearables,” Siroker said in the post and an accompanying video. “We share this vision and we’ll be joining Meta to help bring our shared vision to life.”

Salesforce shares pop 5%, continuing post-earnings rally and leaving stock poised for best week since 2023

Published

4 hours ago

December 5, 2025

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Salesforce shares pop 5%, continuing post-earnings rally and leaving stock poised for best week since 2023

Sheldon Cooper | Lightrocket | Getty Images

Salesforce shares popped 5% on Friday after the company posted better-than-expected third-quarter earnings on Wednesday despite falling short of Wall Street’s revenue estimates.

The stock, which is up 13% over the past five days, is aiming for its best week since 2023.

The company reported adjusted earnings per share of $3.25, topping Wall Street’s estimates of $2.86 per share. Revenue increased 8.6% year over year to $10.26 billion but just missed analyst projections of $10.27 billion.

Although the artificial intelligence boom has pushed several tech companies into record surges, cloud software firms have seen a rocky year as investors wonder whether AI will render the industry obsolete.

Salesforce is hoping to persuade Wall Street that AI will be able to bolster its products rather than replace them.

Investors “somehow think software companies are under arrest from AI, when the opposite is true,” Salesforce CEO Marc Benioff told CNBC’s Jim Cramer on Thursday.

During the third quarter, the company acquired startups Regrello and Waii, which uses AI to generate code with natural language instructions.

Despite Salesforce’s shares being down 21% year to date, compared with the Nasdaq’s 22% gain, analysts are more optimistic for 2026.

“CRM [Salesforce] continues to be levered to digital transformation, and we expect the company to grow at a solid rate going forward,” Mizuho analysts wrote. “At the same time, we believe CRM will remain fiscally disciplined and that it can continue to drive higher operating and FCF margins.”

Analysts highlighted Salesforce’s AI platform Agentforce, which builds agents that automate business tasks and streamline workflow.

Despite initial investor skepticism over the platform, Cantor analysts were encouraged by its strong adoption in the customer service space.

“We think CRM is starting to formalize and mature the strategy, which should make it easier for customers to understand, and therefore adopt, Agentforce,” the Cantor analysts wrote.

Annual recurring revenue of Agentforce jumped 330% year over year to $540 million.

“Why everyone is so excited about Agentforce is because this is what AI was meant to be,” Benioff said. “It brings together humans and data and AI and apps, and delivers an incredible experience for companies.”

WATCH: Salesforce CEO Marc Benioff goes one-on-one with Jim Cramer