Chip-making tech behemoth Nvidia has announced its Q1 earnings, showing a record quarterly revenue of $26 billion, up by 5.5% of market expectations. The company has also confirmed that a ten-for-one forward stock split would be implemented by June 7, 2024. At the time of writing, the Nvidia stock ($NVDA) is up 2.6% after market close.On the crypto side, artificial intelligence-related tokens have seen notable gains, despite the muted performance of the broader digital asset market, with the exception of Ethereum’s recent gains.The uptick in AI token prices comes as investors prepared for the quarterly earnings report from chip-making giant Nvidia (NVDA). Nvidia’s report is widely viewed as the grand finale of a surprisingly strong earnings season for big tech companies. Looking ahead, Nvidia expects revenue of $28.0 billion for the second quarter of fiscal 2025, plus or minus 2%. The company also announced a 150% increase in its quarterly cash dividend.

Several large-cap AI tokens have posted significant gains over the past 24 hours, according to data from CoinGecko. Fetch.ai’s FET, Render’s RNDR, Bittensor’s TAO, and SingularityNET’s AGIX have all advanced between 4% and 5%.Meanwhile, AIOZ Network’s token (AIOZ) has surged 7% following the announcement that Nvidia has listed the project on its Accelerated Applications Catalog, which allows users to search for tools and services built on Nvidia platforms.A merger between Fetch.AI, SingularityNET, and Ocean Protocol has also been approved by their communities, combining $FET, $AGIX, and $OCEAN into $ASI at anticipated total value of $7.5 billion. The native token of Near Protocol (NEAR), a layer-1 (L1) network that garnered attention when its co-founder spoke at an Nvidia conference earlier this year, has also seen a 2% gain. NEAR was the best-performing asset, which fell 0.6% alongside modest declines in both Bitcoin (BTC) and Ethereum (ETH).The overall market decline comes on the heels of a breakneck rally driven by positive regulatory developments in the US and falling bond yields as inflation concerns ease. Despite this, AI-focused tokens have managed to buck the trend and post gains.Nvidia’s earnings report is expected to confirm the enthusiasm surrounding AI and potentially offer a glimpse into the future for stocks. The company’s shares have soared more than 200% over the past 12 months, adding roughly $1.5 trillion in market value. With a market capitalization of $2.3 trillion, Nvidia’s weighting in the S&P 500 has increased from 2.2% to more than 5% in the past year.Other tech giants, such as Microsoft, Alphabet, Amazon, and Apple, have already reported strong earnings, showing that demand for AI services is helping to fuel revenue growth. These results have helped propel the S&P 500 Index to an all-time high.Investors have come to expect Nvidia to deliver blow-out earnings, with the company having topped profit and sales estimates by at least 15% in recent quarters. However, there are some concerns about the rollout of a new chip dubbed Blackwell later this year, which could lead customers to slow purchases of its predecessor until the new one is available.Despite these concerns, the performance of AI-focused tokens serves as a testament to the growing excitement surrounding the AI sector and its potential impact on the future of technology and finance.