Despite Nvidia's strong first-quarter earnings, AI-related cryptocurrencies are still losing value, which has surprised many investors in the crypto market. On May 23, Nvidia, renowned for its high-performance AI chipsets, surpassed analyst predictions, reporting a revenue of $24.6 billion—a jump of 18% from the previous quarter and 262% from the same period last year.

Nvidia's earnings announcement came after the New York Stock Exchange (NYSE) closed on May 22. Following this, Yahoo Finance reported that Nvidia's stock price rose by 6.06% in after-hours trading, reaching $1,007 per share at the time of writing. For the latest financial and business updates, visit COINTURK FINANCE.

Despite Nvidia's positive financial performance, many investors in AI-related tokens were disappointed as the expected surge in token prices did not occur. According to CoinMarketCap, just five hours after the earnings report, Render (RNDR), an Ethereum-based platform for decentralized graphics processing, saw its price drop by 12% to $10.38.

Data from crypto research firm Santiment revealed that a large whale wallet transferred about $52.1 million to an unknown wallet today. This move might indicate that major holders are preparing for a "sell-the-news" reaction.

Popular crypto analyst D0C Crypto highlighted that RNDR did not see a price increase until two days after Nvidia's previous earnings report and commented: "After Nvidia's Q4 earnings in February, RNDR rose by 38% within 48 hours. If this pattern repeats, RNDR could rise above $15 within the next 48 hours."

Other AI-related cryptocurrencies like The Graph (GRT) fell by around 4.77%. Similarly, Fetch.ai (FET) and SingularityNet (AGIX) saw drops of 6.42% and 6.25%, respectively. Nonetheless, investors remain hopeful that Nvidia's strong earnings will eventually positively influence the broader crypto market.