Nvidia soared 26 percent and increased its market value by $199 billion after its impressive first-quarter earnings report.

The company cited a surge in adoption of artificial intelligence as the reason for a significant increase in its outlook.

The company is close to $1 trillion after its first-quarter earnings and second-quarter forecast surpassed analysts’ expectations.

Thanks to the growing generative artificial intelligence market, Nvidia raised its second-quarter revenue forecast to $11 billion, more than 50 percent above Wall Street’s $7 billion forecast. The company’s artificial intelligence chipsets help leverage the technology behind OpenAI ChatGPT and Alphabet’s Bard chatbots.