It seems Nvidia (NASDAQ: NVDA) shares can't stop moving higher. After reporting fiscal 2024 second-quarter earnings last night, the stock popped nearly 7% in early trading. Some of that gain faded, but shares remained higher by 3.5% as of 10:20 a.m. ET.

That rise comes with the semiconductor company's stock having already soared about 230% year to date.

Investor excitement for the already highly valued stock isn't hard to explain, though. Sales are growing exponentially, and no one knows where they will plateau. The demand for chips to power artificial intelligence (AI) has Nvidia's data center segment soaring.

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Source Fool.com