Nvidia’s big drop ushers correction in AI tokens, NVDA wipes out $220 billion in market capitalization

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

Fetchai News

Thegraph,Render,Cryptocurrencies

Chipmaking Artificial Intelligence (AI) giant Nvidia took a hit on its valuation on Friday.

Nvidia wiped out $220 billion in market cap on Friday, the chipmaker dropped to third most valuable firm behind Microsoft and Apple. The correction in the tech giant’s stock was followed by AI tokens extending their losses, NEAR, FET, RNDR, GRT, TAO were hit. Fetch.ai, Render, The Graph holders realized losses during the recent correction in AI tokens. Chipmaking Artificial Intelligence giant Nvidia took a hit on its valuation on Friday.

Other developments include the upcoming merger of the Fetch.ai, Ocean Protocol and SingularityNET, into ASI token . News of technology giant Apple’s decision to hold off AI tech in the European Union countries, citing regulatory concerns, is another notable development. Is the AI narrative dethroned? Crypto influencer behind the X handle @CredibleCrypto notes that the narrative of the “AI supercycle” could end soon.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in US

United States United States Latest News, United States United States Headlines