According to Oppenheimer analyst Rick Schafer, Nvidia’s dominance in the artificial intelligence (AI) market could drive its market capitalization to surpass that of Costco by 2024. Schafer believes Nvidia’s AI leadership, particularly in areas like generative AI and large language models, positions the company for substantial growth. He estimates that Nvidia’s AI business could generate $38 billion in revenue by 2027, contributing to a potential market value of $1.3 trillion by 2024, exceeding Costco’s current market cap of around $230 billion. Schafer highlights Nvidia’s strong competitive advantages, including its software ecosystem, AI computing platforms, and partnerships with major cloud providers. He sees the company as a prime beneficiary of the AI boom, with its GPUs being essential for training and running AI models. Nvidia’s stock has already surged over 180% this year, reflecting investor enthusiasm for its AI prospects.