So, AI crypto tokens are tanking. Why? Because Nvidia, the big kahuna of AI chips, might be in deep trouble. Thanks to some new U.S. export restrictions, they’re looking at a $5.5 billion hit. Yeah, that’s billion with a “B.” 🤑
In a filing on April 14, Nvidia basically said, “Hey, we’re screwed.” The U.S. government is now making them jump through hoops to sell their H20 chips and other fancy AI stuff to China, Hong Kong, and Macau. Because, you know, those chips might end up in Chinese supercomputers. Gasp! 😱
The H20 chip is the most advanced thing Nvidia can sell in China right now. And guess what? A Chinese AI startup called DeepSeek has been using it to train models. Cue the dramatic music and U.S. lawmakers clutching their pearls. 🎻
Nvidia’s trying to save face by saying they’ll spend hundreds of millions to make some AI chips in the U.S. But guess what? Their stock is still tanking. NVDA dropped 6.3% in after-hours trading on April 15 to $105.10. And it’s down about 16.45% this year. Ouch. 🤕
It’s not just Nvidia, though. The whole tech sector is taking a hit thanks to Trump’s tariff shenanigans. Apple, Microsoft, Alphabet, and Amazon are all in the red. It’s like a tech apocalypse out there. 🍎💻
And if that wasn’t bad enough, a “death cross” has formed on Nvidia’s stock chart. That’s a fancy way of saying their 50-day moving average dropped below the 200-day one. The last time this happened, Nvidia’s stock plunged nearly 50% in six months. So, yeah, not great. ☠️
Investors in AI crypto tokens are sweating bullets. These tokens often react to Nvidia news because, surprise, Nvidia’s hardware powers a lot of AI projects. In December, when China launched an antitrust probe into Nvidia, the AI crypto token market cap dropped by over 14% in a day. 📉
Following Nvidia’s latest filing, the total market cap of AI-related tokens has fallen 3.7% in the past 24 hours, now sitting at around $20.1 billion. Trading volume is also down, which is just another way of saying nobody wants to touch this stuff right now. 🚫
Near Protocol (NEAR), the biggest AI crypto by market cap, slid 5.3% over the past day. Other major tokens like Internet Computer (ICP), Render (RENDER), Sei (SEI), Virtuals Protocol (VIRTUAL), and Akash Network (AKT) also lost between 5% and 12%. It’s a bloodbath out there. 🩸
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2025-04-16 12:37