If there was any doubt about the strength of the AI boom in the stock market and the broader economy, Nvidia (NASDAQ: NVDA) just put those questions to rest.

For the first quarter of 2024, the AI chip titan just posted another blockbuster earnings report, including year-over-year revenue growth of 262% overall and 427% in the data center segment, where the AI revolution is taking place.

Those numbers weren't a huge surprise to those that have been following the stock, but they were still better than expected as was the company's guidance for the second quarter. It was enough to add roughly $200 billion to Nvidia's market cap.

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Source Fool.com