On Friday, Nvidia's market value soared to an unprecedented $2 trillion, marking a significant achievement in the company's history. This milestone was driven by the insatiable demand for its chips, which have fueled the meteoric rise of generative artificial intelligence.Nvidia's chips have become indispensable to the majority of generative AI players, including ChatGPT-maker OpenAI and Google. This demand has propelled the company's rapid ascent, enabling it to reach a $2 trillion market valuation in a mere eight months. Notably, this achievement was accomplished in less than half the time required by tech giants Apple and Microsoft.Analysts have likened Nvidia's position in the AI industry to that of picks and shovels providers during the gold rush of the 1800s. Similar to how prospectors relied on these tools, AI companies depend heavily on Nvidia's chips to exploit the surge in AI demand.Nvidia's latest quarterly revenue forecast, which predicted a substantial 233% growth, fueled a surge in global markets and contributed to the S&P 500's rise by over a quarter. The company's impressive share performance has drawn widespread attention, with numerous analysts and investors eagerly seeking information about its future prospects.Despite the share surge, Nvidia's valuation has actually decreased due to rapidly rising analyst estimates. The company's 12-month forward price-to-earnings ratio has dropped from 49 times a year ago to about 31 times.