NVIDIA (NVDA) Is A Stock Where Individuals Won Over The Institutions, Says Jim Cramer

We recently published 12 Latest Stocks on Jim Cramer's Radar . NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer recently discussed.

Cramer started the show by discussing AI chip giant NVIDIA Corporation (NASDAQ:NVDA). He discussed a note by Melius Research’s Ben Retizes that reiterated a Buy rating and a $300 price target. Cramer also mentioned Citi’s coverage that the growth in demand for AI workloads was leading to expansion in the cloud businesses of big tech companies:

“Right and I know that, Melius, that, uh, I got to tell you, Ben Reitzes has a piece which talks about why you should stay in. There’s a terrific piece by Citi obviously we’re going ahead, we’re going toward the earnings. I mean David, is it the key stock of this market? I would say that, AI which doesn’t exist, OpenAI is the key. And Sam Altman turns out to be, I would say the chief villain of this market. If you see, if you go into a bear market, if you go into a big decline, it because of that one person. Because there isn’t anything they say that’s any good anymore.

“I just think that NVIDIA turned out to be the stock that the institutions did not crave because he was a gamer but individuals listened. And I can. . how foolish were they, the multiple was really high. I don’t want to pass judgement on the individual they’ve done a lot better than the institution.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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