Semiconductor giant Nvidia (NASDAQ: NVDA) returned with stellar results for the fiscal first quarter of 2025 (ending April 28, 2024). Revenue and earnings surged by an explosive 262% and 690% year over year, respectively. Data center revenue soared 427% year over year to $22.6 billion, and accounts for 87% of the company's first-quarter revenue.

The growing demand for artificial intelligence (AI) chips in the data center segment has undoubtedly played a major role in Nvidia's blockbuster quarterly results and the dramatic increase in the company's valuation.

Shares of Nvidia gained by nearly 129% so far in 2024 and have reached record-high levels. Can the stock go even higher or is it close to its peak?

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Source Fool.com