AI drives US stocks to soar continuously, while Ethereum controversy weighs on ETH and continues to be weak.

The optimistic sentiment towards AI artificial intelligence and the drive of heavyweight enterprise financial reports have pushed the US stock market to the edge of historical highs. The S&P 500 index once broke through 6,100 points, approaching a historical high, and the Nasdaq experienced a big pump of 1.28%, once again surpassing the 20,000 mark. The top 10 Market Cap Cryptocurrencies are seeing fluctuations. BTC has gradually declined to 103K, and Ethereum has been controversial in recent days, with a weekly decline of over 5.5%.

Stargate drives the prospect of AI frenzy

The stock market continued to rise, with the S&P 500 index briefly surpassing 6,100 points. Netflix announced the largest quarterly subscriber growth in history, with its stock soaring nearly 10%. Oracle, SoftBank Group, and OpenAI established a joint venture, Stargate, with a capital of $100 billion. Oracle continued to rise by 6.75% to $184.22 per share on Wednesday, reaching a historic high.

(With the support of the Trump administration, SoftBank, OpenAI, and Oracle have established Stargate to ensure the leadership position of the United States in AI)

Nvidia, which will supply chips for Stargate, surged on Wednesday, rising 4.43% to $147.07 per share, pushing its market capitalization to $3.6 trillion, once again surpassing Apple to take the global market capitalization throne.

Other technology partners of Gate.io also rose, with Microsoft up 4.13% and ARM soaring 15.93%, driving the prospect of AI frenzy.

BTC dropped to 103K, Ethereum controversy dragged ETH to continue weakness

The top 10 Market CapCryptocurrency sees ups and downs. BTC fell steadily to 103K, with a drop of more than 2% in 24 hours. Ethereum has been controversial in recent days, with a drop of more than 2% in a single day and a further 5.5% drop in a week.

(Community forced the resignation of Ethereum Foundation director Ayako Kikuchi, Vitalik angrily retorted: The decision-making power is in my hands!)

Even Tron founder Justin Sun has come out to say that if the Ethereum Foundation and Ethereum were led by him, the price of ETH could potentially surpass the $10,000 mark. TRX rose 3.6% in a single day.

(Sun Yuchen self-recommends to lead Ethereum and the Foundation: I will take the helm, ETH surges to $10,000)

While SOL benefited from the TRUMP meme coin, it remained above $250, with a weekly gain of up to 25%.

Data Source: CoinGecko

This article AI drives the US stock market to rise for several days, Ethereum controversy drags down ETH's continued weakness. It first appeared on Chain News ABMedia.