Nvidia's Q4 Revenue, Earnings Beat Drives AI-Based Cryptos Higher Even As Major Coins Bleed

Artificial intelligence-related cryptocurrencies were the market’s biggest gainers on Wednesday as Nvidia Corp. (NASDAQ:NVDA) shattered its fourth-quarter revenue record.

What happened: KAITO, the native token of the AI-powered InfoFi network, soared over 40% to become the most successful cryptocurrency in the last 24 hours. 

The coin's trading volume nearly tripled to $1.87 billion in the last 24 hours, exceeding established coins like Tron (CRYPTO: TRX), Cardano (CRYPTO: ADA), and Pepe (CRYPTO: PEPE).

IP, the native token of Layer-1 blockchain Story, rallied over 19% to generate the second-best returns. 

Launched barely two weeks ago, the coin has accumulated a market capitalization of over $1 billion and has been up a whopping 569% since its debut.

The blockchain project helps creators register, license, and monetize their intellectual property assets in an AI-driven world.

See Also: GameStop-Themed Cryptos Soar After Vivek Ramaswamy Co-Founded Firm’s CEO Urges Bitcoin Investment: Graduate From Being ‘Meme Stock’ To Sector Leader

AI16Z, the token associated with ai16z—a venture capital firm led by Al agents—gained 15% on the day.

The overall market valuation of AI tokens rose by 1.8% in the last 24 hours, according to CoinGecko.

Cryptocurrency	Gains +/-	Price (Recorded at 11:00 p.m. ET)
KAITO (KAITO)	+40.37%	$2.44
Story (IP)	+19.08%	$6.65
ai16z (AI16Z)	+15.13%	$0.3723

Why It Matters: The spike came after Nvidia reported record fourth-quarter and full-year fiscal revenue after Wednesday’s market close. The quarterly revenue and earnings exceeded analysts' expectations. 

That said, shares of the chip-making giant were down 1,49% in after-hours trading, indicating that investors' lofty expectations were not met.

The surge defied the broader downturn in the market, with Bitcoin (CRYPTO: BTC) slipping below $83,000 for the first time in 15 weeks.

Price Action: Shares of NVDA closed 3.67% higher at $131.28 during Wednesday's regular session, according to data from Benzinga Pro. 

Image via Shutterstock

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