Nvidia's expected earnings report released before the AI concept coin rose, FET and TAO rose by 8.8% and 4.7% respectively.
Artificial intelligence concept tokens led the market on Monday. Before Nvidia's expected earnings report was released, FET and TAO rose by 8.8% and 4.7% respectively. Historically, Nvidia's share price has been a bellwether in the growing AI concept token space, and its token price rose in anticipation of its earnings. Analysts surveyed by FactSet expect earnings per share to hit a record high this quarter, with earnings per share of 65 cents, an increase of 141% from the same period last year. Revenue is expected to reach $28.72 billion, an increase of 113%. This will be Nvidia's fifth consecutive quarter of triple-digit growth. With the Federal Reserve likely to cut interest rates in September, the technology sector is expected to perform strongly for the rest of the year.