With the Nvidia earnings report smashing expectations as per usual, it might have been expected that crypto AI tokens surge on the news. None of it. Despite some positive price action going into the news announcement, crypto AI tokens generally experienced a drop in price.
Nvidia earnings surpass expectations
Nvidia is the darling of US stocks. One of the ‘magnificent 7’, $NVDA has been responsible for around 11% of the entire S&P 500 performance over the past year. Its eagerly anticipated first quarter earnings report came in higher than Wall Street estimates once again.
Adjusted earnings were $6.12, higher than analysts forecast of $5.65, and revenue was up $26 billion, better than the expected $24.69 billion.
However, not only was $NVDA slightly down on the day, but AI cryptocurrencies were down a lot further.
The last time that positive $NVDA earnings hit the news, crypto AI tokens saw a considerable spike in price. This time, leading into the earnings repo
We współpracy z: https://cryptodaily.co.uk/2024/05/crypto-ai-tokens-down-despite-nvidia-positive-earnings-report
