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Nvidia's Make-or-Break Earnings Could Be Huge for AI-Tied Crypto Tokens
Tokens such as FET as well as shares of cryptocurrency miners could move after the giant chipmaker's earnings.
Updated Aug 23, 2023, 5:14 p.m. Published Aug 23, 2023, 5:14 p.m.
- AI-related tokens such as FET, GRT, INJ, RNDR and AGIX may move after Nvidia's earnings on Wednesday.
- Shares of crypto miners such as APLD, IREN, HUT, and HIVE may also see some impact.
Giant chipmaker Nvidia (NVDA) could help determine later today if the artificial intelligence frenzy is real or just another bubble ready to burst – and take AI-related crypto tokens on a wild ride.
Scheduled for after the U.S. stock market closes Wednesday, this is Nvidia's first quarterly report since blowing the roof off of Wall Street's estimates in May and revealing an extremely bullish outlook for revenue tied to AI. This sentiment, coupled with increasingly AI mainstream reach with the likes of OpenAI’s ChatGPT, spilled over onto AI-related cryptocurrencies, sending them soaring.
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However, most AI-related tokens that surged after that report quickly lost their gains.
Read more: AI Crypto Tokens Lose Steam as Post-Nvidia Earnings Hype Wears Off
Nonetheless, tokens such as Fetch.ai (FET), , , and are still higher year-to-date, suggesting investors remain intrigued by the intersection of crypto and AI. The sector got a modest bump in July after Elon Musk unveiled his ChatGPT competitor.
If the chipmaker can prove that AI is becoming a major moneymaker, that wouldn’t just be a boon for the tech firms that are adopting the technology en-masse, but also for AI-related crypto tokens' sentiment, at least in the short term.
Today's earnings could also show how AI may change corporate strategy at crypto miners. While the equipment they use is fine-tuned for crypto and cannot necessarily be shifted over to processing AI, their expertise and physical space in data centers could help them dive into AI.
Miners like Applied Digital (APLD), Iris Energy (IREN), Hut 8 (HUT) and have already started to revitalize their data centers to accommodate AI and other computing services as mining has become less profitable during the prolonged bear market. As investors have also been rewarding the shares of some publicly traded miners for pivoting into AI, depending on how the guidance from Nvidia goes, the prices of these mining stocks could also be affected.
Read more: Crypto Miners Are Pivoting to AI (Like Everyone Else)
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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