Jim Cramer on NVIDIA: "The Ultimate Own it, Don't Trade It"

NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer shared his opinions on. Cramer discussed the company’s latest deal with OpenAI and said:

“NVIDIA, the ultimate own it, don’t trade it, stock is another one. For weeks now, we’ve been bombarded with questions about demand for NVIDIA’s chips because of concerns about China… Then today, NVIDIA announced a deal with OpenAI to build data centers with a capacity of 10 gigawatts worth of power. Do you know that’s enough power to, to take care of 8 million homes? NVIDIA will invest a hundred billion dollars in OpenAI as part of the transaction… 10 billion per gigawatt. OpenAI is privately held, but when you get a deal like this, it will boost the value when it comes public. And I figure NVIDIA will continue to make fortunes from this investment. Sam Altman, the CEO of OpenAI… [said] endlessly in a CNBC exclusive… about the need for computing power to truly get what’s needed out of artificial intelligence, and only NVIDIA has the power that’s needed. The value of their nine-year partnership is now self-evident. This announcement brightened the entire data center food chain… I say, really, who cares about China? Only the people who traded the stock and are no longer in it, not those who owned it. Oh, it’s discouraging.”

NVIDIA Corporation (NASDAQ:NVDA) delivers computing, graphics, and networking technologies, including GPUs, AI platforms, cloud services, and automotive solutions.

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Disclosure: None. This article is originally published at Insider Monkey.