AI-Linked Crypto Tokens Underperform as Apple's Event Fails to Impress Traders
Summary
Artificial intelligence (AI) related cryptocurrencies, including Render (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and Bittensor's TAO, experienced a decline of 3%-6% following Apple's annual developers event. The CoinDesk Computing Index, which includes AI-related tokens, was one of the worst-performing sectors among digital assets, losing 2.5% in market value. This occurred despite high expectations for Apple to reveal its AI plans at the Apple Worldwide Developers Conference (WWDC2024). Apple announced Apple Intelligence, a suite of AI features for its products, and a partnership with OpenAI to integrate ChatGPT into its software. Despite these announcements, Apple shares closed nearly 2% down.
