Nvidia shares climbed in after-hours trading after the chipmaker reported another quarter of record revenue, underscoring how rapidly demand for AI hardware continues to expand. The company said fiscal first-quarter revenue reached $44.9 billion, topping expectations and reflecting strong sales of its data-center products.

The results point to sustained enterprise spending on artificial intelligence infrastructure, with businesses still racing to secure the processors needed to train and run advanced AI systems. Nvidia has become a central supplier in that buildout, and its latest numbers suggest the momentum has not eased.

Investors reacted quickly to the report, pushing the stock higher after the close. The move adds to Nvidia’s outsized gains over the past two years, though the company’s valuation remains closely tied to whether AI adoption can keep justifying this pace of spending.

The latest earnings release reinforces Nvidia’s role as one of the main beneficiaries of the AI boom, even as analysts continue to watch for signs of slower growth, tighter competition, or shifts in customer demand.