- Crypto AI tokens FET, RNDR, AIOZ, OCEAN and ARKM, among others, noted sharp gains on Monday.
- Technology giant NVIDIA announced DrEureka, an LLM that trains robots in skills.
- OpenAI rolled out ChatGPT’s memory feature and Amazon announced Q, the company’s AI-powered assistant.
Artificial Intelligence (AI)-based cryptocurrencies have experienced nearly double-digit or higher gains on Monday, well above the price increases seen among the main crypto assets, likely fuelled by recent announcements of new developments from AI and tech giants in the US.
AI ecosystem updates catalyze gains in tokens
Six of the top 10 AI tokens in the sector have observed nearly double-digit or higher gains. AI tokens like Fetch.AI (FET), Render (RNDR), AIOZ Network (AIOZ), Ocean Protocol (OCEAN) and Arkham (ARKM) have noted over 10% gains in their prices compared with the last 24 hours, according to data from CoinGecko.
Looking at the last seven days, nearly all of the top ten AI tokens ranked by market capitalization have posted double-digit gains.
Top 10 AI tokens by market capitalization
Technology giant NVIDIA announced on May 3 its Large Language Model (LLM) DrEureka. An LLM is a type of AI that can generate texts, among other tasks. DrEureka automates writing code to train robot skills. In a demo, NVIDIA used DrEureka to train a robot dog to balance and walk on a ball in simulation, without the need for any fine-tuning.
We trained a robot dog to balance and walk on top of a yoga ball purely in simulation, and then transfer zero-shot to the real world. No fine-tuning. Just works.
— Jim Fan (@DrJimFan) May 3, 2024
I’m excited to announce DrEureka, an LLM agent that writes code to train robot skills in simulation, and writes more… pic.twitter.com/kuG14LmSOh
Sam Altman-led OpenAI started rolling out its memory feature for its LLM, ChatGPT, on April 29. This allows the AI to carry over its learnings from between conversations when told to do so. ChatGPT paid users have access to the memory feature, it is currently available in Europe and Korea.
Memory is now available to all ChatGPT Plus users. Using Memory is easy: just start a new chat and tell ChatGPT anything you’d like it to remember.
— OpenAI (@OpenAI) April 29, 2024
Memory can be turned on or off in settings and is not currently available in Europe or Korea. Team, Enterprise, and GPTs to come. pic.twitter.com/mlt9vyYeMK
Amazon launched the company’s AI-powered assistance for businesses on April 30, alongside the Q Apps feature that allows non-technical users to create custom AI applications. With the tool, users can input prompts and develop AI using Amazon’s data.
AI-related announcements and releases from technology giants have likely fueled gains in the crypto assets related to Artificial Intelligence. The category’s market capitalization gained 10.7%, climbing to $27.9 billion on Monday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.