Jim Cramer says Nvidia is a clear winner from Dell's monster quarter

Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. Club holding Costco's stock fell 4.5% Friday as investors zeroed in on softer-than-expected membership growth in the retailer's quarterly report . Jim said management's commentary on the earnings call failed to reassure Wall Street that Costco can reaccelerate member growth. "When you have a stock down this much, you'd better come up with answers," Jim said. "I would have liked more ownership of what went wrong." While Costco remains a strong business, Jim said the stock's premium valuation could remain a hurdle until the company offers a clearer path to improving growth. "I can't tell people to buy it … because now I feel that the price earnings multiple might be too high," he said. 2. Shares of Dell Technologies surged 30% Friday, putting the stock on pace for its best day ever after the company delivered another strong quarter fueled by booming demand for AI servers and data center infrastructure. Jim said Dell's results reinforce his bullishness on Club holding Nvidia , given the two companies' close partnership in powering AI systems for hyperscalers and enterprise customers. "This is the one to buy," Jim said of Nvidia, arguing the chipmaker remains the best way to play the AI buildout. …