Jim Cramer Expresses Confidence in CoreWeave's Leadership

CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks Jim Cramer recently expressed his thoughts on. Cramer mentioned the company during the episode and said:

“Of course, there’s also the issue of CoreWeave, which willingly used its debt to build out its end of the data center business. I understand why you might worry about that, but I trust CEO Michael Intrator when he talks about how this is not a risky business because there’s just so much demand, tons and tons of it. And he’s got great analysis of what’s going to happen in the 5, 6, 7-year period after they build these things.”

CoreWeave, Inc. (NASDAQ:CRWV) operates a cloud platform designed for enterprise compute workloads. The company provides GPU and CPU compute, storage, networking, managed services, and servers. Its solutions support AI model training, inference, VFX rendering, and dataset optimization for machine-learning developers. During the September 25 episode, Cramer discussed the company’s latest deal with OpenAI. He remarked:

“What else? This morning, CoreWeave, basically a company that runs data centers for the AI… announced an expanded agreement with OpenAI, the company behind ChatGPT, for $6.5 billion, bringing its total contract value with OpenAI to $22.4 billion. Now, can you think of any companies in the consumer economy that could sign a deal for 6.5 billion like that? I know I can’t, but when the CoreWeave news broke when I was sitting right over there and spoke on the Street this morning, I couldn’t even tell if it was worth mentioning. Yes, there’s that much AI-related activity out there… It just didn’t seem to be worth it.”

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