Nvidia's expected earnings report released before the AI concept coin rose, FET and TAO rose by 8.8% and 4.7% respectively.
2024-08-26 08:11:55
This week one person artificial intelligence concept tokens led gains market NVIDIA expectationsdesk3cryptocurrencydesktopCrypto News
Artificial intelligence concept tokens led the market on Monday. Before Nvidia's expected earnings report was released, FET and TAO rose by 8.8% and 4.7% respectively. Historically, Nvidia's share price has been a bellwether in the growing AI concept token space, and its token price rose in anticipation of its earnings. Analysts surveyed by FactSet expect earnings per share to hit a record high this quarter, with earnings per share of 65 cents, an increase of 141% from the same period last year. Revenue is expected to reach $28.72 billion, an increase of 113%. This will be Nvidia's fifth consecutive quarter of triple-digit growth. With the Federal Reserve likely to cut interest rates in September, the technology sector is expected to perform strongly for the rest of the year.
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