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AI tokens slide as Nvidia jumps 7% — but ‘don’t expect that to last’

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Shares of AI chip maker Nvidia are up 7% while AI crypto tokens trade flat, but a trader thinks that might soon change.

AI crypto tokens are “quiet now,” bleeding red across the board, but a crypto trader says that won’t last.

Artificial intelligence-linked crypto tokens have declined over the past 24 hours amid Nvidia’s share price surging over 7% on May 28, but the downturn won’t last forever, says a crypto trader. “NVDA surging, AI coins quiet now but don’t expect that to last,” trader Matthew Hyland wrote in a May 28 X

Nvidia produces computer chips that AI companies are increasingly using to run their AI models. Crypto traders see its stock price as an indicator of how AI tokens could move, with NVDA’s performance a gauge of the market’s AI sentiment. Nvidia has surged 22% in the past five trading days to close May 28 at a record high of ​​$1,140, the stock has seen a year-to-date growth of nearly 137%,Meanwhile, several of the largest AI crypto tokens by market capitalization haven’t followed Nvidia and have been down over the past week.

 

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