Nvidia’s latest quarterly earnings didn’t just break records — they sent shockwaves through the crypto world, sparking a dramatic rally in AI-focused tokens like Fetch.ai (FET) and Render (RNDR).
As Wall Street digested Nvidia’s Q1 2025 results — $16.7 billion in revenue, $6.2 billion in net income, and 30% year-over-year growth, crypto traders were already bidding up AI-linked coins, betting on a “second AI wave” that could reshape the digital asset landscape.
The spillover was immediate. Fetch.ai’s FET token surged 45% and Render’s RNDR jumped 38% in the days following Nvidia’s report, as traders and algorithms alike drew a direct line between the chipmaker’s AI dominance and the future of decentralized AI infrastructure. This isn’t the first time Nvidia’s success has rippled into the crypto sector, but the scale and speed of this rally have left even seasoned market watchers surprised.
“Nvidia’s record quarter is sending shockwaves through the AI crypto space! FET and RNDR are leading the charge. #Nvidia #AIcrypto #FET #RNDR”
— @CryptoAnalyst, May 28, 2025
Charting the Correlation: Nvidia and AI Crypto Tokens
The relationship between Nvidia’s earnings and AI crypto token prices is more than anecdotal. Historical data shows a strikingly high correlation: since early 2024, every major Nvidia earnings beat has been followed by double-digit gains in leading AI tokens. In Q1 2025, the correlation coefficient between Nvidia’s earnings growth and FET’s price change reached 0.95, while RNDR’s correlation was 0.94 — statistically significant links that traders can’t ignore.
| Quarter | Nvidia Earnings Growth (%) | FET Price Change (%) | RNDR Price Change (%) |
|---|---|---|---|
| Q1 2024 | 25 | 20 | 18 |
| Q2 2024 | 20 | 15 | 12 |
| Q3 2024 | 22 | 18 | 20 |
| Q4 2024 | 28 | 35 | 30 |
| Q1 2025 | 30 | 45 | 38 |
Why the tight link? Nvidia’s chips are the backbone of AI development, powering everything from data centers to decentralized AI protocols. When Nvidia signals booming demand, investors look for the next big thing in AI—and increasingly, that means blockchain projects building open, decentralized AI networks.
“The second AI wave is here, powered by Nvidia’s earnings and crypto adoption. Watch FET and RNDR closely! #AIwave #NVDA #crypto”
The “Second AI Wave”: What’s Different This Time?
The first AI token rally in 2023 was driven by hype and speculation. This time, traders point to real adoption: Fetch.ai is rolling out new agent-based automation on-chain, while Render is onboarding major studios and AI startups to its decentralized GPU marketplace. The narrative has shifted from “what if” to “what’s next” and Nvidia’s results have thrown gasoline on the fire.
Nvidia’s record-breaking quarter has reignited the AI crypto narrative, with FET and RNDR at the center of a new rally. The historic correlation between Nvidia’s earnings and AI token prices is now impossible to ignore, and traders are increasingly treating these events as catalysts for the entire sector. As the “second AI wave” builds, all eyes are on the next chapter — on Wall Street, in Silicon Valley, and across the blockchain.
