The cryptocurrency market has witnessed a significant price surge in AI coins, with Near Protocol (NEAR), Render Network (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and other AI coins defying the broader trend. This price rally is attributed to a plethora of advancements across the AI industry, including developments by industry prominencies such as Nvidia, xAI, and Pantera Capital.

Nvidia, the GPU and AI chip manufacturing giant, has recently secured a ranking as the most valued company with a $3.33 trillion market cap. The AI chip manufacturing giant overtook Microsoft, in turn making its CEO Jensen Huang the 11th richest person across the globe.

Musk’s xAI has forged ahead with AI-related developments, including a recent statement by Dell Technologies CEO Michael Dell revealing that the firm is working with Nvidia to build an AI factory that powers xAI’s Grok.