As Nvidia gets ready to reveal its first-quarter earnings report, the anticipation for the earnings has pushed the company's stock to the highest point in a month. The surge in Nvidia shares has also led to a market recovery, especially in the cryptocurrency sector, driven by AI-based altcoin projects.

Artificial intelligence altcoins like The Render Network's RNDR, SingularityNET's AGIX, Bittensor's TAO, and Fetch.ai's FET have all seen significant increases in value, outperforming the general market. This rise in altcoins has been attributed to the upcoming quarterly earnings report from Nvidia.

There is strong interest in Nvidia's upcoming earnings report as AI altcoins are expected to perform well due to their direct connection to AI developments. Historically, Nvidia's shares have had a positive correlation with Bitcoin and the broader cryptocurrency market, especially since Nvidia's devices were used for mining before AI becoming a significant focus.

Nvidia is set to announce its first-quarter results on May 22, 2024, and experts are expecting a substantial increase compared to the previous year. With high expectations, Nvidia's stock has already seen a significant rise in value, reaching its highest level since April 1. This surge has also marked a recovery from a low point in mid-April.