CandleFocus Crypto VCs Flock to AI: Over $213 Million Invested in Q3
2024-10-21
Author: Content Editor
The investment in artificial intelligence (AI) projects within the crypto industry has seen a significant increase, with venture capitalists pouring over $213 million into AI-related projects in the last quarter. This marks a 340% increase year-over-year and a 2.5x jump from the previous quarter. Many of these projects are focused on leveraging AI for decentralized platforms, but they also include initiatives combining AI with social networks, DeFi, and DePin. The rising interest in AI aligns with the resurgence of Nvidia's stock price, which has skyrocketed by 190% this year. This correlation suggests that Nvidia's upcoming earnings report in November could impact AI token prices. The market cap for AI tokens currently stands at $36.7 billion, with a daily trading volume of $1.7 billion.
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