Jim Cramer on NVIDIA (NVDA): "The Bear Case on AI May Have Been Dead Wrong"

We recently published a list of Jim Cramer’s Thoughts on These 12 Stocks. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other stocks that Jim Cramer discusses

Cramer said that despite NVIDIA Corporation (NASDAQ:NVDA) stock’s recent setback, its rebound shows that the skeptics around AI are possibly “dead wrong.”

“Oh, and NVIDIA for months, it was a chronic underperformer, but hey, it turns out the bear case on AI may have been dead wrong. For instance, have you seen the stock of NVIDIA? It climbed from $86 and change at its lows in April all the way to the mid-130s when it reported an incredible quarter with an amazing forecast, much better than expected. Stock then rallied to 143 after the quarter. But then it was thrown back when the White House refused to let NVIDIA sell China even its lesser semiconductors.

The stock gave back a big chunk of its post-earnings gains, and the shorts, well, they were in there, congratulating themselves…. We realized the market got things wrong today, though, when we saw Meta’s lining up 20 years’ worth of nuclear power from Constellation Energy for AI. You don’t sign up 20 years’ worth of nuclear energy with a plant that’s about to close three years from now because you think that the data centers are dying a slow death. Next thing you know, NVIDIA’s right back to 141…. What a relief.”

NVIDIA (NASDAQ:NVDA) designs advanced graphics, compute, and networking solutions spanning gaming, AI, data centers, and automotive technology. The company’s products include GPUs, AI platforms, cloud services, and software tools tailored to accelerate innovation across industries.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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