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Well now, it seems our dear friends in the world of artificial intelligence coins have found themselves in a bit of a pickle, as Nvidia’s much-ballyhooed GPU Technology Conference (GTC) turned out to be as exciting as watching paint dry on a rainy day.
Despite the grand unveiling of Nvidia’s latest AI chips, the cryptocurrency market for AI took a nosedive of 2.8%. And wouldn’t you know it, Nvidia’s own stock decided to join the pity party.
AI Crypto Tokens Take a Tumble as Nvidia’s Chief Honcho Shows Off New Chips
The Nvidia GTC conference in San Jose, California, has long been the place where tech dreams are born, or at least that’s what they tell us. This year, the air was thick with anticipation as CEO Jensen Huang strutted onto the stage on March 18, ready to unveil Nvidia’s next-generation AI chips.
Among the shiny new toys was the Blackwell Ultra, which is set to hit the shelves in the second half of 2025—because who doesn’t love waiting? Huang also gave us a sneak peek at the company’s crystal ball, revealing the Vera Rubin and Rubin Ultra chips, which are slated for 2026 and 2027, respectively. Talk about planning ahead!
He waxed poetic about the chips’ prowess in advancing AI reasoning and agentic AI—those fancy systems that can plan and act all on their own, making Nvidia the belle of the AI ball.
“These last two to three years have seen a fundamental breakthrough in AI. We call it agentic AI,” Huang declared, as if he were announcing the arrival of a new species.
Our dear CEO had previously touted the potential of AI agents, predicting they’d be worth more than a king’s ransom. This proclamation sent a wave of excitement through the AI agent tokens, like a kid in a candy store.
In fact, AI tokens had a bit of a party after Nvidia’s impressive fourth-quarter earnings report in February. Investors were hoping for a repeat performance from the conference. But alas, the unveiling of new hardware was about as thrilling as a wet sock.
While eight of the top 10 AI coins saw a smidgen of gains, it was hardly enough to write home about. The latest data revealed a 2.8% decline in the total market capitalization of AI-related cryptocurrencies after the keynote. Among the sectors, AI Applications took the hardest hit, plummeting by a staggering 17.6%. Ouch!
Other sectors weren’t spared either, with AI Agent Launchpad dropping by 9.5%, and AI Agents slipping by 7.7%. The AI Framework sector fell by 2.1%, while the Bittensor Ecosystem managed a smaller decline of 1.7%. It’s like watching a slow-motion train wreck.
Nvidia’s stock (NVDA) mirrored the broader sector’s disappointment, falling 3.4% on Tuesday, which contributed to a year-to-date decline of 14.0%. It’s a real nail-biter, folks!
This drop came amidst a broader market rout, with tech stocks feeling the heat from macroeconomic uncertainty and investors changing their minds faster than a cat on a hot tin roof.
And let’s not forget the emergence of competitors like China’s DeepSeek, which claims to have built a cost-effective AI chatbot earlier this year. This has folks wondering if Nvidia’s reign as the top dog in the AI sector is about to come to an end. Stay tuned, folks! 🎩
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2025-03-19 14:30