Crypto AI Sector Valuation Hits $32B as NVIDIA Stock Price Taps All Time Highs

The aggregate crypto AI sector reached $32 billion in market capitalization on Thursday, driven by NVIDIA’s rally to fresh all-time highs above $190 per share. As the chipmaker’s valuation approaches $4.6 trillion, it continues to cement its position as the dominant force shaping the global AI landscape.

The broader crypto market also received a boost as investors sought alternatives to hedge political risk triggered by the US government shutdown. Capital rotation out of US treasuries into blue-chip stocks provided additional momentum for risk assets during the session.

ADP private payroll data released earlier in the week also eased bearish concerns. According to CME Group’s Fedwatch tool, markets now price in a 97.8% likelihood of an interest rate cut in the next Federal Open Market Committee (FOMC) slated for October 29.

NVIDIA Rally Propels Crypto AI Sector Valuation Above $32B

NVIDIA’s record-breaking stock rally has fueled widespread positive sentiment across crypto projects with artificial intelligence exposure. Coingecko data shows aggregate crypto AI market capitalization crossed the $32 billion threshold on Thursday, climbing 8.8% in the last 24 hours.

Notably, gains were evenly distributed, with all top ten crypto AI tokens trading in the green at press time. This synchronized rally signals the $2.6 billion sector growth was driven by sector-wide catalysts linked to NVIDIA’s all-time high rally.

Among standout movers, Virtual Protocol price advanced 7.2% in intraday trade, while Render added 4% and Artificial Intelligence Alliance climbed 3%.

As NVIDIA stock edges closer to its $5 trillion market cap target, speculative bets on Fed rate cut expectations could see the Crypto AI sector maintain an upward trajectory in the near-term.

Read original story Crypto AI Sector Valuation Hits $32B as NVIDIA Stock Price Taps All Time Highs by Ibrahim Ajibade at Coinspeaker.com

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