@Dell - Can running my laptop in ultra performance mode "hurt it" or will it cause any damage to the Laptop?

While I understand that running my laptop in Ultra Performance mode can cause more noise, it's the temperature the laptop can reach that makes me ask this question. It's new and still under warranty, but I don't want to shorten the life span or have any issues just to get a few more frames per second.

1. Does it hurt the laptop?

2. Will it shorten the lifespan?