Can I use Vite for Nextjs?

As a developer interested in leveraging the latest technology stack for my web applications, I'm curious about the integration of various frameworks and tools. Recently, I've been exploring the use of Vite for its efficient bundling and development server, coupled with the popularity of Next.js for building server-side rendered React applications. Could you elaborate on whether Vite can be effectively utilized with Next.js? Are there any known challenges or limitations in this integration? What steps would be involved in setting up such a development environment? Your insights would be invaluable in guiding my decision-making process.