Nvidia Continues Losing Streak – AI Tokens Are Surging

AI-related cryptocurrencies saw significant growth last week, while Nvidia shares lost over $400 million in market capitalization.

As of June 25, Fetch.AI (FET), Render (RNDR), and SingularityNET (AGIX) show gains of 40%, 7%, and 37%, respectively, over the past seven days. This growth occurred even as the broader crypto market was facing a downturn, with Bitcoin (BTC) and Etherium (ETH) losing 7% and 2.5% of their values, respectively, over the past week.

Nvidia’s decline coincided with concerns over significant stock sales by its president Jensen Huang and other executives. Google Finance data shows that Nvidia’s share price has fallen 6.68% over the past five trading days.

Huang has sold $79.38 million worth of Nvidia stock since June 13, according to a June 21 filing with the U.S. Securities and Exchange Commission (SEC). This activity caught the attention of commercial research firms.

“Nvidia executives are selling their shares at an unprecedented pace,” Global Markets Investor mentioned in a June 23 post on X. Another research firm pointed out that the total value of shares sold by Nvidia executives this year is approaching the one billion dollar mark.
Barchart, in turn, added that Nvidia insiders have cashed in over $796 million this year.

Alexander Stefanov