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Nvidia achieves record revenue in Q2 - this is how AI Coins respond

With record sales in Q2, Nvidia exceeded prediction, yet the stock fell.

By Mike Hesp
• 2 min read
Nvidia achieves record revenue in Q2 - this is how AI Coins respond

With record sales in Q2, Nvidia exceeded prediction, yet the stock fell. At the AI-coins it came to profit-taking.

On August 28, Nvidia presented financial figures for the second quarter of 2024. From the report shows that the chip manufacturer posted sales of about $30 billion.

With this, Nvidia exceeded prediction by a whopping seven percent. For Q3, the company has set an even bigger goal: revenue of $32.4 billion.

Before the release of the positive figures, Nvidia shares (NVDA) had already fallen. In after-hours trading, the stock lost 2.1% and is now trading at $125.

This led to a slight drop in the price of Bitcoin and other cryptocurrencies. The leading crypto is quoted $59,345 at the time of writing, but was still above $60,000 on Aug. 28.

AI coins were particularly hard hit: NEAR lost four percent on a daily basis, the price of the newly emerging cryptocurrency FET fell ten percent, and Bittensor (TAO) had to lose eight percent.

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