AI Sector Market Capitalization Plummets as Kite Soars

The AI sector market capitalization took a hit this week, losing 5.3% and shedding $0.8 billion.

This decline was widespread among top AI tokens, with 75% of them experiencing losses.

However, some notable exceptions defied the downtrend, including Kite, which reached an all-time high of ~$0.287 after gaining 17.8% week-over-week.

Major mining firm Bitdeer announced it sold its Bitcoin holdings to fund expansion into AI and High-Performance Computing (HPC) infrastructure, currently holding zero BTC.