Crypto AI tokens post near double-digit gains amidst launches from NVIDIA, OpenAI and Amazon

• 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. 

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. 

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.