Nvidia to date has said nothing about plans to build flying cars. Which is a shame, as its stock has clearly figured out how to defy the laws of gravity.

The company, whose graphics processing chips are becoming key components in the artificial-intelligence systems being built into data centers and automobiles, saw its market value double in 2017 after tripling the year before. It has picked up another 16% not two weeks into the new year.

The gains have made Nvidia, once a niche player known for making chips for gaming computers, into the fourth most valuable company in the semiconductor industry. It is now more valuable than peers including Qualcomm , Broadcom and Texas Instruments , which generate much larger annual sales than the $9.5 billion Nvidia is on track to report later this month. It is also one of the mostly richly valued, trading at 50 times forward earnings. Investors, therefore, are right to ask if the stock can fly much higher.

Whether it can depends on Nvidia’s success is two relatively new markets for the chip maker. The datacenter business in particular is key. Wall Street expects this segment to generate more than $4 billion in annual revenue for Nvidia in the next two year, more than twice its level now. The good news is the big data-center companies— Amazon , Google, Microsoft , Facebook and Apple —are expected to boost their combined capital spending by nearly 30% this year, according to analysts from Oppenheimer. Nvidia will need to stay in their good graces to make this target.

Autos are a more nascent business, as self-driving cars are still in the early stages. Nvidia announced some key advancements in this area at the CES conference this week, including a partnership with Uber. Automotive segment revenue totaled about $554 million for Nvidia for the last four quarters, and is expected by Wall Street to hit nearly $800 million over the next two years.