Dhaka, Aug. 28 -- Nvidia reported another surge in AI chip sales in its latest quarter, but the results fell just short of sky-high expectations, renewing concerns that the artificial intelligence boom may be cooling.

The Silicon Valley chipmaker - the first publicly traded company to hit a $4 trillion market value - has become a key gauge of the two-year-old AI frenzy that has driven stock markets to record highs. Yet recent reports and cautionary remarks from industry leaders have raised fears the sector's growth may not be sustainable.

For the May-July quarter, Nvidia's data center division, which houses its AI processors, generated revenue of $41.1 billion, up 56% from a year earlier but slightly below Wall Street forecasts of $41.3...