AI Stocks Gain as Crypto Fear & Greed Hits 26

AI stocks such as NVIDIA Corp. (NVDA) drew investor interest on October 10, 2024, as the Crypto Fear & Greed Index reached 26, per Alternative.me. Bitcoin traded at $75,697 USD, down 2.5% over 24 hours ending 14:00 UTC, per CoinGecko. Ethereum stood at $2,349 USD, down 3.5%.

NVIDIA and Advanced Micro Devices Inc. (AMD) recorded higher trading volumes amid crypto declines, Bloomberg Terminal data showed on October 10.

• Asset: BTC · Price (USD): 75,697 · 24h Change (%): -2.5 · Market Cap (B USD): 1,515
• Asset: ETH · Price (USD): 2,349 · 24h Change (%): -3.5 · Market Cap (B USD): 284
• Asset: XRP · Price (USD): 1.43 · 24h Change (%): -4.2 · Market Cap (B USD): 88
• Asset: SOL · Price (USD): 86 · 24h Change (%): -3.5 · Market Cap (B USD): 50
• Asset: DOGE · Price (USD): 0.09 · 24h Change (%): -5.4 · Market Cap (B USD): 15

CoinGecko data as of October 10, 2024, 14:00 UTC.

NVIDIA Leads AI GPU Market

NVIDIA holds 80-90% market share in AI training GPUs, SemiAnalysis research director Dylan Patel wrote in a September 2024 report. H100 and Blackwell GPUs power Microsoft Azure and Amazon Web Services data centers. NVIDIA's data center solutions support enterprise AI deployments.

AMD CEO Lisa Su stated on the Q3 2024 earnings call October 29 that MI300X accelerators offer higher memory bandwidth than rivals. Cloud providers diversified suppliers as AI demand grew 50% quarter-over-quarter, AMD filings show.

Broadcom Inc. (AVGO) supplies custom AI chips to Alphabet Inc. and Meta Platforms Inc., per Broadcom's Q3 fiscal 2024 filings released September 5.

Crypto Fear & Greed Index Falls to Extreme Fear

Alternative.me's index weights volatility (25%), market momentum (25%), social sentiment (15%), surveys (15%), Bitcoin dominance (10%) and trends (10%). The score of 26 marks extreme fear, the lowest since August 2024.

NVIDIA's CUDA software retains developers, per Q2 fiscal 2025 filings. Palantir Technologies Inc. (PLTR) reported 27% revenue growth to $678 million USD in Q2 2024 from AI platforms for government and enterprise, per its July 30 earnings release.

NVIDIA Data Center Revenue Surges 154%

NVIDIA's data center revenue rose 154% year-over-year to $26.3 billion USD in Q2 fiscal 2025, the company reported August 28. Demand grew for DGX systems with enterprise AI rollouts.

Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) produces NVIDIA chips on 4nm and 3nm nodes, TSMC stated in its Q3 2024 update October 17. The U.S. CHIPS Act funds domestic fabrication for Intel Corp. and others.

Other AI Stocks Post Gains

C3.ai Inc. (AI) partnered with Google Cloud on enterprise AI applications, announced September 10. SoundHound AI Inc. (SOUN) secured a voice AI deal with Stellantis NV in July for automotive use.

UiPath Inc. (PATH) added AI agents to robotic process automation and reported 21% annualized recurring revenue growth to $1.41 billion USD in Q1 fiscal 2025 on September 4.

Sector Rotation Follows Crypto Selloff

Bitcoin's market cap reached $1,515 billion USD, down from session highs. Stablecoins Tether (USDT) and USD Coin (USDC) pegged at $1.00 USD with $187 billion and $79 billion caps, per CoinGecko.

Meta Platforms Inc. CFO Susan Li said in Q3 earnings October 30 that capital expenditures hit $35-40 billion USD for 2024, including AI infrastructure. Alphabet Inc. forecasted similar outlays.

BlackRock Inc. launched AI-themed ETFs in 2024 that drew $1.2 billion USD inflows by September end, ETF.com reported October 1.

AI Stocks Outlook Amid Crypto Volatility

Fear & Greed readings below 30 preceded Bitcoin rebounds in 2018, 2022 and 2024, Glassnode on-chain analysis shows. Hyperscaler AI demand supports NVIDIA and peers through swings. Q3 earnings arrive in November 2024.