Artificial Intelligence (AI) coins could be preparing to surge as Intel stock (NASDAQ: INTC) surged nearly 8% in extended trading hours on Monday. The increase comes after Intel CEO Pat Gelsinger provided an update on the company’s plans to slash costs and turn around its business.
Intel Stock Extended Gains Could Spill Over Into Crypto
Shares of the embattled chipmaker surged 8% on Monday after the CEO revealed that the company had made progress in lowering costs through layoffs.
Additionally, the company plans to seek greater independence by turning its chip-maker arm, Intel Foundry, into a separate subsidiary and potentially selling its chip-making services.
INTC is trading at $22.58; analysts project it could surger higher to $25 and $35.
AI Coins To Watch Out For As INTC Surges
The chip-making business boom has shed light on the AI sector within the crypto space. These cryptocurrencies stand to benefit from the growth of giant computer chip manufacturers.
1. Render (RNDR)
Render is a leading multi-chain decentralized GPU computing platform that offers computing power for deploying computer-heavy operations such as 3D rendering, machine learning, and other GPU-intensive activities.
RNDR price, the native token on Render, is trading at $4.77 after dropping 3.8% in the last 24 hours. This AI project that heavily relies on powerful computer chips has been holding the $4 support for over a month, which means buying RNDR at these prices may be a good investment play.
As the Intel stock continues to surge, it may translate to positive market sentiment in the crypto AI sector, which could send RNDR surging at least 134% to $11.
2. Near Protocol (NEAR)
Near protocol is a $4 billion layer-one blockchain that facilitates the building of decentralized applications (dApps). It is one of the few blockchains that has solved the blockchain trilemma, using its technology, Nightshade, for faster transactions, lower costs, and higher transaction volumes.
NEAR coin price has increased by 0.4% in the last 24 hours and is trading at $3.99.
NEAR price broke above a key resistance early on in the year and has remained above it. This level, $4.00, has been tested twice in the past and has held its ground. This presents a potential entry point for investors as Intel stock stages the next swing upward.
3. Artificial Superintelligence Alliance (FET)
Artificial Superintelligence Alliance is a decentralized AI solution on the Ethereum mainnet. The project’s main product is the Agentverse, an engine for creating different types of AI agents, including NFT generators, Chat Bots, smart contract generators, AI trading assistants, and many more.
Despite the robust features of the Artificial Superintelligence Alliance project, its native token, FET, has lost a great deal of value since it hit ATH in March.
Nevertheless, the Artificial Superintelligence Alliance price found support around $0.8 and bounced by 65%. Currently, the FET price is almost completing a bullish continuation pattern that could catapult it by an extra 40% to $2.10. If Intel stock continues surging, FET has a chance of surging above $2.10 and to the next major resistance, around $3.50.
Conclusion
Traditional and digital financial technology (FinTech) are quickly merging. Giant chip makers influence machine learning projects and top AI coins, while traditional mining companies influence Bitcoin price forecast. If Intel stock continues in its upward trend, it may spark a crypto AI bull run in the coming days.
Frequently Asked Questions (FAQs)
Intel stock jumped nearly 8% after CEO Pat Gelsinger shared cost-cutting updates and chip-making plans, potentially boosting AI-related crypto coins like Render, Near Protocol, and Artificial Superintelligence Alliance.
As Intel’s stock rises and AI sentiment grows, cryptocurrencies like RNDR, NEAR, and FET could see rallies. If diversifying, consider these options, but assess your financial situation and risk tolerance.
Keep an eye on Intel’s stock performance and broader market sentiment in the AI and tech sectors. As Intel continues its upward momentum, AI-focused coins like RNDR, NEAR, and FET could see significant gains in the coming weeks.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
