AI tokens tumble ahead of Nvidia's latest earnings report
The artificial intelligence (AI) tokens took a hit ahead of the California-headquartered chipmaker Nvidia (Nasdaq: NVDA) gearing up to post its Q1 2025 earnings report once the trading day closes on May 28.
The total market cap of AI tokens slipped 0.5% in a day to $29.7 billion at the time of writing. All the leading AI tokens reflected a decline in their prices over the last 24 hours.
TAO, the AI token powering the decentralized ML network called Bittensor, fell 2.6% to $434.76 at press time.
NEAR, another leading AI token, dropped 3.58% to $2.79.
ICP, the token powering decentralized AI solutions at the Internet Computer protocol, fell 2% to $5.26.
RENDER, the AI token powering the decentralized GPU rendering platform, fell as much as 9% to $4.38.
FET, the AI token behind the Artificial Intelligence Alliance consortium, dipped 3.2% to $0.88.
FIL, the token supporting the internet infrastructure behind decentralized AI, fell 2.42% to $2.82.
VIRTUAL, the token behind AI agent-enabling Virtuals Protocol, dropped 7.5% to $2.30.
INJ, the token lying at the intersection of AI and DeFi at the Injective protocol, fell a modest 1% to $14.75.
Helmed by CEO Jensen Huang, Nvidia faced a major onslaught this year with the buzz created by the Chinese AI company DeepSeek. In addition, the aggressive tariff policy pursued by President Donald Trump against China beginning Apr. 2 also affected the chipmaker's operations adversely since semiconductors were among the products worst hit by tariff hikes.
On Apr. 14, the company announced an initiative to create their AI supercomputers in the U.S. exclusively, to which Trump promised an expedition of all necessary permits.
The NVDA stock was exchanging hands at $136.32 at the time of writing, up 0.62% today. Though the stock has jumped 27% since Trump's "Liberation Day" tariff announcement, it's still barely 1.54% up year-to-date (YTD).
AI tokens tumble ahead of Nvidia's latest earnings report first appeared on TheStreet on May 28, 2025
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