- Some of the biggest AI coins in crypto have gone parabolic this year.
- This includes Akash Network, FET, and Venice Tokens.
- They have jumped ahead of the OpenAI, SpaceX, and Anthropic IPOs.
Top AI coins like Akash Network (AKT), Artificial Superintelligence Alliance (FET), Render Token (RNDR), and Venice Token (VVV) have jumped over the past few days as traders await the upcoming IPOs of Anthropic, SpaceX, and OpenAI.
Top AI Coins Have Surged This Year
Akash Network, which offers distributed GPUs, has jumped by over 220% from its lowest level this year and is hovering at its highest point since October last year. This surge has occurred amid growing use of its network, with active leases and revenues soaring.
FET token has jumped by over 55% from the year-to-date low, while Venice Token (VVV) has exploded by over 1,600% from its December lows. Other popular AI tokens, such as Render, Worldcoin, Virtuals Protocol, and Bittensor, have all soared.
The same surge has occurred in the stock market, where top companies like NVIDIA, SanDisk, Micron, Western Digital, and Marvell Technologies have jumped to record highs. These stocks explain why the S&P 500 and Nasdaq 100 indices have soared to record highs.
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Anthropic, SpaceX, and OpenAI Have Made Some Major AI News
The gains are due to recent AI news and upcoming IPOs. Anthropic, the top AI company that created Claude, is concluding its $30 billion capital raise at a $900 billion valuation. Its valuation in secondary markets has jumped to over $1 trillion.
In other news, the WSJ noted that Anthropic is on track to make $10 billion in the current quarter. It will also generate a profit for the first time since its creation.
Meanwhile, these AI coins have outpaced the $1.5 trillion SpaceX IPO. While SpaceX is known for its space program, it also owns xAI, the company that runs X and Grok. Its IPO will be the biggest one in the world.
Most notably, OpenAI has confirmed that it is about to go public in a deal that will value it at over $1 trillion. This IPO comes at a time when it is struggling, with losses rising and its revenues missing targets.
Therefore, while AI coins like Akash Network, FET, and Venice AI are not related to these three IPOs, their rally is driven by thematic factors. It is common for financial assets to do well or poorly when there are major announcements or hype.
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