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Nvidia CEO Jensen Huang sparked a rally in AI coins and Nvidia’s stock price with his forecast of a new AI-driven Industrial Revolution. The market has responded favorably, with NVDA rising 2.8%, bolstered by an advanced semiconductor deal between the U.S. and Saudi Arabia.
Nvidia CEO Predicts Second Industrial Revolution
The market is about to see a second Industrial Revolution, according to Jensen Huang, who made the comment in a recent interview with CNBC. In an effort to take artificial intelligence to new heights, this followed a meeting with US-based industry heavyweights.
He asserts that AI will revolutionize computer systems across multiple domains, with the US aiming to dominate the field.
“We were talking about energy about this new industry called AI factories and obviously, we are at the beginning of a new Industrial Revolution. And this industry is going to be producing intelligence and what it takes is energy and a lot of great computer science. We got to make sure that everyone needs to come in, the opportunities of it, the challenges, and doing it in the most efficient and scalable way we can.”
Public and Private Investments Needed for AI Growth
Based on the market's growth and energy consumption, Huang recommended public and private investment, according to Coingape. The rise of AI in recent months has been a major factor propelling the cryptocurrency markets upward.
With the help of AI, XRP Healthcare saw a 5% increase in price this week. There was a massive uprising in the cryptocurrency community in Q1 2024 as a number of coins saw gains, all because of the AI buzz.
AI Coins Surge as Near Protocol and Synesis One Lead the Rally
The price of most AI coins skyrocketed after Nvidia's CEO estimate as bulls fixated on new highs. In the past day, Near Protocol has risen 5.8%, while Synesis One has up 19.8% and Spectre AI has risen 13.5%.
Since Nvidia controls 80% of the market for chips, favorable sentiment around the company causes AI coins to rise. In the meantime, the asset's upward trajectory continued today as the stock price of NVDA climbed 2.8%.
Nvidia Stock Gains 2.8% on US-Saudi Semiconductor Deal
Following a recent agreement in advanced semiconductors between the US and Saudi Arabia, NVIDIA shares recently surged.
