Three cryptocurrencies related to artificial intelligence experienced a surge in their value, driven by Nvidia's earnings report, which covers the fourth quarter of 2023 and the estimated figures for the first quarter of 2024.

Nvidia's earnings per share for the previous quarter were reported at $5.16, surpassing analysts' expectations of around $4.59 per share. Additionally, the revenue reached $22.1 billion, exceeding the projected $20.4 billion. Nvidia attributes this overachievement to the increasing global demand for AI technology, as highlighted by CEO Jensen Huang in the company's official statement. Huang emphasized the rising demand across various industries, nations, and companies, particularly in generative AI and accelerated computing, which have reached a tipping point.

The positive earnings report had a significant impact on the valuation of AI-related tokens, including Fetch.ai's FET, SingularityNET's AGIX, and Render's RNDR, which saw increases of 15.50%, 32.18%, and 19.57%, respectively. These tokens witnessed substantial gains compared to their values in the last 24 hours.

FET is currently trading at $1.16, with an 18.13% increase in the 24-hour volume, while AGIX is approaching the $1 mark. SingularityNET is valued at $0.703, with a remarkable 135.41% surge in the 24-hour volume. RNDR holds the highest value among the three tokens, at $7.39, with a 91.64% increase in the 24-hour volume.

The combined market capitalization of AI-related tokens has surpassed $16.5 billion, coinciding with Ethereum's rise above $3,000, marking a 3.51% increase in the last 24 hours. Despite Bitcoin's slight decrease to $51,724.34, there has been a 0.59% rise in the last 24 hours.

While Bitcoin typically leads market momentum, AI-related tokens appear to be influenced by industry players' actions and perceptions. Looking ahead, Nvidia anticipates first-quarter revenue of $24 billion, surpassing analysts' expectations of $22.2 billion. Another earnings beat could further propel AI tokens.