DJ Khaled and Chance the Rapper have a lot to celebrate. They both just scored their very first No. 1 hit on the Billboard Hot 100 with Khaled's star-powered single "I'm the One."

Also featuring Justin Bieber, Quavo, and Lil Wayne, the tune looks like it's on track to become the verifiable song of the summer. It's only the second song of the year to debut at the top slot, the other being Ed Sheeran's "Shape of You." And, as Khaled points out in his Instagram celebrations, it's the first hip-hop song to debut at No. 1 since Eminem's 2010 track "Not Afraid."

Of course, "I'm the One" boasts Khaled's son Asahd as executive producer, so naturally the proud dad celebrated the victory by sharing an adorable baby video on Instagram.

He also noted that he'll be announcing the release date of his next album, Grateful, any day now.