NVDA can't save crypto

According to Bloomberg, the AI firm is aiming for a valuation exceeding $35 billion. CoreWeave has been securing agreements with cryptocurrency miners, including a recent $1.2 billion data center expansion deal with Core Scientific (CORZ) in Texas. This announcement led to an 18% surge in Core Scientific's stock price.

The largest publicly traded crypto miner by market cap, MARA, formerly known as Marathon Digital, reported Q4 earnings that came in well ahead of expectations. The company reported Q4 sales of $214.4 million, beating estimates of $186 million. MARA also mined 9,430 BTC in 2024, down 27% from 2023. The company now holds 44,893 BTC on its balance sheet.

Stripe processed an impressive $1.4 trillion in payment volume in 2024, up 38% from the prior year, equivalent to 1.3% of global GDP. The letter also had a large section for the first time on crypto – specifically stablecoins – of course due to Stripe’s acquisition of Bridge in 2024. Stablecoins are booming on Stripe, with transaction volumes doubling from 2023-2024, and 40 million monthly active wallets now in play. Read more about Stripe’s role in AI, vertical Saas, fraud, the EU and more here →

Memecoin launchpad Pump•fun is finally slowing down. Daily token launches have fallen from ~71k at January’s peak to now just ~25k (still insane numbers), and fewer tokens are hitting its “graduation” threshold. Similar to its other metrics, Pump•fun daily revenue peaked at $15.4 million on Jan. 25, subsequently dropping to just $1.1 million on Wednesday.

As expected, everyone had their eyes on Nvidia’s (NVDA) earnings yesterday. And once again, the AI darling reported another stunning quarter. Revenue soared 12% from the previous quarter and 78% YoY, while adjusted earnings per share jumped 10% and 71%, respectively. The company also offered strong guidance for Q1, projecting revenue to climb 9% sequentially and 65% year over year—beating analysts’ forecasts across the board. So why is NVDA down today? Valuation.