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See why AI coins NEAR, RNDR and others are surging today
In an unprecedented development, AI Coins gained prominence today, June 20, defying the broader trend. Notably, the prices of Near Protocol (NEAR), Render Network (RNDR), Fetch.ai (FET), SingularityNET (AGIX) and other AI coins have skyrocketed notably in the last 24 hours, coinciding with a plethora of advancements across AI . industry. These advancements encompass several developments from industry highlights, including xAI, Nvidia, and Pantera Capital.
Here is a brief report on recent AI-related developments that have likely triggered a surge in AI coin prices.
Nvidia, xAI and Pantera mark monumental advances in AI
It is crucial to note that NEAR price is up almost 5% today, RNDR 2%, while AGIX and FET have seen a significant rally of 24%-28%. Other tokens like GRT, TAO, INJ, and THETA also saw gains of 3% to 6%. This surge in AI coin prices is in line with the attention-grabbing AI developments by xAI- Elon Musk
AI startup, Nvidia – the GPU and AI chip manufacturing giant, and Pantera Capital – a VC and hedge fund specializing in blockchain and cryptographic technology.
Pantera Capital invests US$200 million in AI
Amid the recent global AI boom, the leading crypto sector hedge fund announced that it would invest a whopping $200 million in AI. This decision comes on the optimistic wave of a potential intersection between the AI and cryptography sectors in the coming years.
Musk’s xAI moves forward
In the meantime, xAI has embarked on some AI-related developments. xAI Generative AI Model Grok is leveraging Midjourney AI for image creation
purposes. Additionally, a recent statement from Dell Technologies CEO Michael Dell revealed that the company is working with Nvidia to build a AI factory powering xAI’s Grok.
In sync with the global race for AI, these developments have further echoed optimism across the industry.
Nvidia’s market cap surpasses all others
Meanwhile, Nvidia recently secured a ranking as the most valued company with a market cap of $3.33 trillion. The giant AI chipmaker has overtaken Microsoft, making its CEO, Jensen Huang, the 11th richest person in the world.
The share price of Nvidia (NVDA), a stock correlated to the AI coin sector, stood at $135.58, an increase of 3.51% in pre-market trading.
These developments collectively, underlining AI Increasing adoption and growth have driven a rise in the prices of currencies that leverage this technology.
Read too: VanEck Bitcoin ETF debuts on Australian stock exchange ASX, will it get similar response to the US?
Rally NEAR, RNDR, AGIX and others
According to Data from CoinMarketCapthe market capitalization of AI and Big Data tokens has seen a notable increase of 5.28% in the last 24 hours.
CLOSE the price rose 5.01% to trade at US$5.31.
RNDR the price jumped 2.65% to $8.10.
FET the price rose an impressive 27.95% to trade at $1.66.
AGIX the price rose 24.58% to reach $0.6715.
Read too: XRP Price Prediction: Whales Shift 52 Million Coins Amid Price Recovery