When I create a new alarm with periodInMinutes set to a value, does the alarm ever get cancelled on its own?

in my code I set an alarm in the background.js file using chrome.runtime.onInstalled event. will the alarm be active and running forever every 60 minutes as long as the extension is installed?

chrome.runtime.onInstalled.addListener((details) => {
    chrome.alarms.create("alarm", {
        delayInMinutes: 1,
        periodInMinutes: 60
    });
})