AI crypto tokens rise as Apple reveals new AI features in iPhone 16

AI cryptocurrencies are on the rise following Apple's announcement of new AI features in the iPhone 16. 

Tokens like Fetch.ai (CRYPTO:FET) and Bittensor (CRYPTO:TAO) jumped 10% as the overall market capitalization of AI-focused cryptocurrencies climbed 7%, reaching $22.22 billion. 

The surge in AI tokens follows Apple’s unveiling of the iPhone 16, which comes equipped with advanced AI capabilities. 

Rowan Cheung, who runs the AI newsletter The Rundown AI, pointed out the new A18 chip, saying, "The next generation of iPhones is built to use AI from the ground up." 

This aligns with Apple's push toward more integrated AI functions, built directly into the phone's hardware, and reflects growing momentum in AI technology adoption. 

Alongside FET and TAO, other tokens tied to artificial intelligence, such as SingularityNET (CRYPTO:AGIX) and Ocean Protocol (CRYPTO:OCEAN), also saw increases, each up about 9%. 

Meanwhile, tokens like Near Protocol (CRYPTO:NEAR), Internet Computer (CRYPTO:ICP), and Render (CRYPTO:RENDER) posted gains of around 5%, showing positive moves across the board in AI crypto. 

Adding to this momentum, Jim Cramer's recent comments about Nvidia played a role. 

Cramer, a well-known TV host of CNBC's Mad Money, mentioned he's "waiting for NVIDIA to bottom." 

Some traders interpreted this as a signal to buy, given Cramer's reputation for the "Inverse Cramer" effect—where his predictions often seem to have the opposite outcome. 

His remarks appear to have given AI crypto traders and investors more confidence to make moves in a cautious market. 

At press time, the Fetch.ai (FET) price was $1.35, and the Bittensor (TAO) price was $292.60.