In this piece, we will look at the stocks Jim Cramer discussed.
In a recent appearance on CNBC’s Squawk on the Street, Jim Cramer discussed a Deutsche Bank note about AI spending. In its note, the bank warned that “AI machines—in quite a literal sense—appear to be saving the U.S. economy right now.” It added that “In the absence of tech-related spending, the U.S. would be close to, or in, recession this year.” In fact, the bank’s accompanying chart demonstrated that if technology spending is removed from the equation, US GDP growth might sit below 1%. Commenting on the piece, Cramer said:
“I think that’s a very important piece. And I think that should be in everybody’s mind. So that you could understand why when you get a print of the GDP, you don’t know how much of this growth, is very good, is this incredible wave of building? We don’t know.”
The conversation then shifted to speculative stocks. Cramer has been discussing them throughout this week, and this time he mentioned some speculative market sectors. “No but Carl, I just don’t like the sound of everything. I mean, especially when it comes to quantum computing, when it comes to nuclear, and when it comes to Bitcoin. I’m worried. I’m worried!” he said.
Delving deeper, the CNBC TV host remarked:
“I think the speculation has to come out of the market because I think that these stocks have gone on so far that we’re seeing insider selling. A lot of companies do not make any money, and a lot of people are concerned that that’s exactly what it looked like in 2000. David was using a 1997, 1998 analysis, but there’s a part of the economy that’s right now is in the year 2000. All you have to look at is do they have revenues? How much money are they losing? If they are losing a lot of money, it’s a good time to ring the register.”
Yet, even though he’s worried about quantum computing, Cramer still believes that the technology can help solve the problem of high AI energy use. “Look, I think that [laughs], we’re gonna be with quantum in 2030 and quantum doesn’t burn hot. Quantum’s the hope. By the way glass instead of copper’s the hope,” he said.
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on September 25th.
For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
15. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders In Q2 2025: 82
Intel Corporation (NASDAQ:INTC) has been in the news throughout 2025 due to several seismic shifts, such as a new CEO and an $8.9 billion investment by the US government. In this show, Cramer discussed media reports suggesting that Intel asked Apple for an investment as well:
“Well it could be, I don’t think either company really has, it’s neither here or there, it’s just reported, I know that Intel is looking for fundraise wherever they can, that’s Lip-Bu Tan, he recognizes the balance sheet can’t sustain with what they want to do. Doesn’t mean they can’t do exactly what they’re doing now, but they have big plans. David, we’re at that moment now, where I think we should be, let’s say suspect, suspicious, of any of these things. Because, the idea that Intel is like a flailing company, the stock has moved up big. We know that they’ve got money from a bunch of people. They have government money, they have Softbank money, uh, they have NVIDIA money. I think that they could be interested in money from anyone. I don’t know why this came down to Apple. Apple does not have a close relationship with Intel.
“[When asked what it could signify] Nothing. Yes. Well I mean look, you have a picture of a cow field you know. Intel’s supposed to be building a plant. Look Intel’s a real company. It’s not a joke company. It’s got to be saved. Everyone recognizes it’s a national treasure. But we could speculate about this, I could replace that with Oracle if you wanted to. I’m being serious. I’m saying that may not be a serious story.
“Well I think Lip-Bu’s been very honest about needing more money. So I think that he would talk to anybody. Carl I think the more important story right now is that we have a wholesale rollover in speculative stocks this morning. Everyone, so it may, Intel’s obviously important because the story was broken, but everything’s down and they’re down bad. Nuclear’s down really bad, quantum’s down really bad except for IBM, everything is down that has been what I called the riskiest part of the market.”
14. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holders In Q2 2025: 36
Oklo Inc. (NYSE:OKLO) factored into Jim Cramer’s discussion of speculative stocks. He’s been wary of the firm this year, but recently when in a Mad Money episode which aired on September 9th, Cramer commented: “I don’t think it’s done going higher.” However, in this show, he discussed some key factors surrounding Oklo Inc. (NYSE:OKLO)
“[On stock down due to reports of insider selling] Yeah they’re all part of the same. And I know that David remembers, it was when the insiders started to bail when they realized that these prices were too elevated, David that was in March and April of 2000. Now I know we have to try to always figure out what period we’re in. But I can tell you we saw in 2014, we saw something very similar. When the insiders are bailing like Carl just said, you don’t wanna be a buyer. The insiders have basically said, hey listen, we’re in for the run. But that seems to be ending. That’s prudent. Obviously if you were the investment advisor to Oklo, and you just had a stock up hundred, I don’t think you’d say listen double down. I think we have some prudent selling here. Driven in part by the fact that interest rates have now we can say officially, that I think we can say that the rate cut failed. Well the rates are going higher not lower.
“Okay, uh uh. Oklo, no. Oklo, no, it’s like a dog.
“Oklo is a classic example. It was at 33, it got a couple of headlines about how Tennessee’s going well and now it’s at 133. I don’t like that.
“Oklo’s got this very serious, recycling of spent fuel, great idea. But I think the idea that you can determine when a plant’s gonna start, it smacks of when Southern was saying, don’t worry about it, don’t worry about it, don’t worry about it, and then it turned out to be the biggest blackhole that Southern’s ever had. Worse than Commonwealth & Southern which was run by Wendell Willkie!”
13. CoreWeave, Inc. (NASDAQ:CRWV)
Number of Hedge Fund Holders In Q2 2025: 29
CoreWeave, Inc. (NASDAQ:CRWV) is a key player in the AI industry, as it provides software companies with the infrastructure to run their AI programs. Its shares have gained 200% since their IPO in April but lost 9.7% last week. Cramer discussed the stock’s performance on Thursday morning as he commented on speculative stocks:
“I think CoreWeave’s a real company. But I think CoreWeave, people feel that’s moved too much. I think CoreWeave’s real. . .”
Since it was one of the first high-profile IPOs in 2025 and listed the shares after a long pause in IPO activity, Cramer was focused on CoreWeave, Inc. (NASDAQ:CRWV) earlier in the year. While some media reports suggested that the firm might have unsound financials back then, he defended it and called people worried about the firm as being “uninformed.” However, even though he’s been positive about CoreWeave, Inc. (NASDAQ:CRWV)’s business model, Cramer has continued to warn about high share price levels. For instance, during his morning appearance on Mad Money on June 10th, Cramer commented:
“You sell half of it tomorrow morning, and then you play with the house’s money from now on, you never have to worry about CoreWeave again. And that is the way you do it, and that is the way I was brought up, and I ain’t deviating from it. Sell half, house’s money rest, congratulations, you made a ton.”
12. Energy Fuels Inc. (NYSE:UUUU)
Number of Hedge Fund Holders In Q2 2025: 24
Cramer used uranium and rare earth metal mining firm Energy Fuels Inc. (NYSE:UUUU) as a classic example of a speculative stock. He’s been very vocal about some stocks this week, which he believes might have seen too much enthusiasm from investors. Energy Fuels Inc. (NYSE:UUUU)’s shares have gained 194% year-to-date, and Cramer has shifted his opinion about the stock this week. In this appearance, he remarked:
“See there are things, there are stocks that are priced incorrectly. And then there are stocks that shouldn’t be stocks.
Well there’s just a lot of. . . well I’m going to give you one that is truly emblematic. UUUU. . .The four Us okay. Now I mean this is a nuclear stock. I don’t know what it’s worth but I know it’s not worth that!
“This is called energy fuels, okay. I am saying that if a stock is up 228% and it doesn’t make any money, that is a doubtful stock to own. . .
“Last night I said, no, I can’t live with myself. Energy Fuels, no! Okay, uh uh.”
These comments are in stark contrast to his remarks made during the September 22nd Mad Money episode, where he maintained that ” I still would not go against it.”
11. Rigetti Computing, Inc. (NASDAQ:RGTI)
Number of Hedge Fund Holders In Q2 2025: 17
Rigetti Computing, Inc. (NASDAQ:RGTI) is a quantum computing company whose shares have gained 55% year-to-date. Over the past month alone, the stock has gained 102%. However, Cramer is unsure whether Rigetti Computing, Inc. (NASDAQ:RGTI)’s share price accurately reflects its value. He discussed the firm in the context of speculative stocks:
“I don’t know whether Rigetti is worth what Rigetti is trading at.”
While brief, Cramer’s comments were unsurprising as he has discussed Rigetti Computing, Inc. (NASDAQ:RGTI) as a speculative stock in previous programs. For instance, during a Mad Money episode aired on August 27th, he shared that “Rigetti could have something that could be a home run. I don’t want to keep you out of it. But it is a speculation, please remember that.”
Cramer has gone as far as to call Rigetti Computing, Inc. (NASDAQ:RGTI) a meme stock. The firm is among the few players in the industry that are developing quantum computing hardware. Rigetti Computing, Inc. (NASDAQ:RGTI) develops quantum processing units (QPUs) and provides quantum computing hardware products and software services.
10. Starbucks Corporation (NASDAQ:SBUX)
Number of Hedge Fund Holders In Q2 2025: 66
Starbucks Corporation (NASDAQ:SBUX), a frequent feature of Cramer’s morning show, was in the news earlier this week after it revealed an aggressive restructuring plan part of CEO Brian Niccol’s turnaround efforts. This plan will see the firm let go of 900 non-retail employees and shut down under-performing stores. Cramer’s a big believer in Niccol, and he discussed the CEO’s latest announcement:
“[On new restructuring plans] I think it’s very important. I mean these are the places that Brian doesn’t think can be traditional coffee houses like he’s trying to do. I mean there’s also an element which is that they don’t have any space to be able to good mobile ordering. Now I have to tell you this is what I’ve wanted. The reason I’ve wanted it is because you want these same store sales up. And you can get them two ways. You can get them by boosting sales or you can get them by keeping the good ones good and by closing the bad ones. And that’s exactly what he’s doing. David, you can’t succeed in a turnaround if you have a huge number of laggard stores that are doing nothing for you.
“I mean don’t put money in the bad. Don’t throw good money after bad. Go after where they can have. . .ordering and have a nice coffees. Now I don’t know if you remember, there was one across the street from us. And it was a standing coffee. Well that’s not what they wanted. There was one over at Trinity Church, that was like again, no place to sit.
“[On if he’d changed his views about how long it’s going to take and whether it’s going to be effective] Well Brian made me change. Brian Niccol. He just said Jim, nothing private to me, it’s taking longer than he’d like. But he’s been very vocal about that. And one of the reasons it’s been taking longer was, look, he doesn’t throw people under the bus.”
9. Jabil Inc. (NYSE:JBL)
Number of Hedge Fund Holders In Q2 2025: 52
Jabil Inc. (NYSE:JBL) is a manufacturing services provider that helps businesses with their product development. Cramer has discussed the firm several times this year and has remained optimistic about it. In this appearance, he discussed Jabil Inc. (NYSE:JBL)’s latest quarterly earnings report and the resulting share price action:
“Okay, so, remember I said throwing out the good with the bad? Jabil had an excellent quarter today and it’s beaten every number. And suddenly people find, something wrong. I mean look, they’ve reported 329, people were looking for 295. It was fabulous, their forecast was great. But today’s a bad day. So that everything goes down. I don’t want you to read into Jabil that something’s wrong with Jabil. It was a really good quarter. It’s the same thing.”
Jabil Inc. (NYSE:JBL)’s fiscal fourth quarter earnings saw the firm report $8.3 billion in revenue and $3.29 in adjusted earnings per share. Both of these beat analyst estimates of $7.6 billion and $2.90. Cramer also discussed Jabil Inc. (NYSE:JBL) and its competition in a September 9th Mad Money episode:
“Hey, then there’s another one. Jabil, a contract manufacturer for tech and healthcare that’s been sensational, buying back stock at 5% annually. That’s one worth looking into. Why? Because Celestica, a competitor, is killing it. I’m filing it away. I put it away for another time.”
8. Micron Technology, Inc. (NASDAQ:MU)
Number of Hedge Fund Holders In Q2 2025: 94
Micron Technology, Inc. (NASDAQ:MU) is one of Cramer’s favorite firms, particularly due to its CEO, Sanjay Mehrotra. The CNBC TV host has praised Krishna’s humility multiple times in 2025. Micron Technology, Inc. (NASDAQ:MU)’s shares have gained 80% year-to-date as the firm enjoys its position in the memory industry. Cramer discussed Micron Technology, Inc. (NASDAQ:MU)’s share price action after the firm’s latest earnings report:
“Look at Micron yesterday. Micron had traded at 172 when it reported the number okay. On Tuesday night. And Micron’s looking at 157. The good ones are being thrown out with the bad.”
In its fiscal fourth quarter earnings report, Micron Technology, Inc. (NASDAQ:MU) reported $11.3 billion in revenue and $3.03 in adjusted earnings per share. Both of these beat analyst estimates of $11.22 billion and $2.86. However, since the report, Micron Technology, Inc. (NASDAQ:MU)’s shares have lost 5.5%. Discussing the report in his Mad Money appearance later during the day, Cramer commented:
“Coming into Micron’s earnings, I was wondering if the company could report anything that could justify the stock’s incredible run. You know what? That’s exactly what they did. After this Titanic quarter, I think Micron can keep running. I just hope we get more pullbacks like this so that you can buy it on weakness. Yes, the Micron quarter really was that good.”
7. International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Holders In Q2 2025: 63
While Cramer did express worries about quantum computing in this episode, he still believes that International Business Machines Corporation (NYSE:IBM) is a strong player in the industry. The CNBC TV host has recommended buying its shares to invest in quantum computing several times this year. This time, he discussed HSBC announcing that it had conducted a trial run of quantum-enabled algorithmic trading with International Business Machines Corporation (NYSE:IBM):
“I’ve met with Arvind Krishna and he said look, you want real quantum? We have real quantum. He also, by the way, said that Honeywell Quantinuum, that that’s real. Google we know is real. And then there’s all these companies that are development-stage companies. That may be development-stage companies for a very long time. And that’s IONQ, that’s D-Wave. Because they’ll tell you listen, we’re working very hard, but we’re nowhere near, they’re working hard. IBM actually has something right now that is pretty positive. IBM, David. It could reinvent finance.”
HSBC’s announcement with International Business Machines Corporation (NYSE:IBM) covered algorithmic trading in the bond market. The bank shared that it had used quantum and classical computing to demonstrate a 34% improvement in predicting if a trade would fill at a quoted price.
6. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders In Q2 2025: 124
Oracle Corporation (NYSE:ORCL) has been the talk of the town recently after it revealed a whopping $455 billion in cloud backlog as part of its fiscal first quarter earnings release. In this episde, Cramer critically evaluated the announcement:
“[On shares being down at open] Well Oracle is the fundament of what happened. That was the, that was the straw because everybody else had been self funding. You know because cash flow, Mark Zuckerberg had a cash flow, Google had a cash flow. And suddenly Oracle comes in. Where are they going to get all the money? Well they’re going to get it from OpenAI, but where’s OpenAI going to get all the money? They’re going to get it from NVIDIA. . .
“I think the story about Oracle say having 450 billion dollars of orders is a little softer than I think it sounded. And I don’t know if they meant it to be as [inaudible].
“We had Rene Haas, serious guy, Arm Holdings. And he was saying, look, there is a huge amount of money being spent. But no one had spent far more than their cash flow. And to build everything that Oracle has to build costs a fortune. We already talked about the two economies.”
5. American Electric Power Company, Inc. (NASDAQ:AEP)
Number of Hedge Fund Holders In Q2 2025: 53
Cramer rarely discusses American Electric Power Company, Inc. (NASDAQ:AEP) in either his morning show or on Mad Money. He discussed the firm in April after the stock market selloff following the Liberation Day tariff announcements. American Electric Power Company, Inc. (NASDAQ:AEP) factored into the discussion back then as Cramer remarked that investors jittery of firms with international exposure could turn to those with a US exposure, such as utilities. This time, he discussed American Electric Power Company, Inc. (NASDAQ:AEP)’s share price performance:
“Take a look at American Electric Power which is, if you put up the chart of American Electric Power, AEP, you’re going to see, it’s a stock that looks very much like Intel, 1997 to 1999. I mean AEP’s one of the great performers of this period, now it’s starting to come down because people realize, well wait a second, if someone puts a cap on AEP that would be devastating.”
Here is what Cramer said about American Electric Power Company, Inc. (NASDAQ:AEP) on April 3rd:
“There’s always money to go somewhere. I think the money’s going to heavily to the American Electric Powers, the Entergys, the utilities, to the companies that have pricing power like Proctor, JNJ. And will flee the areas where it’s so hard for companies to get out of areas.”
4. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holders In Q2 2025: 79
Constellation Energy Corporation (NASDAQ:CEG) factored into the discussion surrounding speculative stocks. Quantum computing and nuclear stocks were two categories that Cramer was worried about during the show. For nuclear power, he asserted that these projects have long development timelines. Constellation Energy Corporation (NASDAQ:CEG)’s shares have gained 37% year-to-date, and the firm has benefited from big tech’s push to use nuclear power for AI data centers. Cramer discussed the share price:
“Constellation is one that I think has to cool off. Because that’s very conservative, you know that’s, nuke. And I think nuke is a little aggressive. That 329, I wouldn’t buy that, I wouldn’t pay 329 for that stock. And I happen to love the company. It’s just that that’s too high! It’s all nuke, nuke, nuke.”
Constellation Energy Corporation (NASDAQ:CEG) has close to 32,000 megawatts of power generation capacity, which makes it one of the biggest players in the industry. Cramer’s previous comments about the firm came in March when he compared it to alcoholic beverages firm Constellation Brands:
“Cause there’s two Constellations. There’s the good Constellation [Constellation Energy] and the bad Constellation [Constellation Brands].”
3. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders In Q2 2025: 115
In this Squawk on the Street appearance, Cramer continued to discuss Tesla, Inc. (NASDAQ:TSLA)’s business model. Most of his recent remarks have surrounded the subject, with the CNBC TV host going as far as to comment that Tesla, Inc. (NASDAQ:TSLA) was the best physical AI. In this appearance, Cramer shared that Tesla, Inc. (NASDAQ:TSLA)’s pivot to robotics and autonomy was remarkable:
“Tesla’s no longer a car company, it’s an AI company, David. It does autonomous alright. It does robots. It managed to pivot. I’ve never seen a pivot like this. When Musk got signed on for lifetime, whatever, it pivoted. And all anyone cares about is your data centers.”
Cramer also believes that Tesla, Inc. (NASDAQ:TSLA) is a stock people are afraid of going against. As an example, he discussed a Piper Sandler price target hike in his September 22nd appearance and remarked:
“No, that was the first time I’ve seen anything that might be good. I do think that this is a, I don’t want to call it a cold stock, but the idea is this that everybody follows the stock. They see the stock rolling, so then they recommend the stock. There’s no one who wants to go contrary to this stock. . .”
2. KB Home (NYSE:KBH)
Number of Hedge Fund Holders In Q2 2025: 26
Homebuilder KB Home (NYSE:KBH)’s shares are down by 2.1% year-to-date as persistent weakness in the housing market complicates the firm’s operations. Cramer has discussed the company several times on his morning show. He has linked KB Home (NYSE:KBH)’s performance with mortgage rates and remarked that lower rates could help the firm. The CNBC TV host has gone as far as to comment that he won’t trade the stock until the rate cut environment becomes clearer. Here’s what he said about KB Home (NYSE:KBH) in this show:
“Jeff Mezger, CEO of KB Homes, not that constructive. Did say that December is historically going to be a month where you don’t want to sell. Because you sell and you hurt your margins. Very good lesson in homebuilding, in the KB Homes call. The stock is up because people feel they’re being prudent. By buying stock, now it’s above book. But they bought back a lot of stock rather than build a lot of homes. And I think that’s prudent because homes aren’t selling that well. Mortgage rates have to come down.”
1. lululemon athletica inc. (NASDAQ:LULU)
Number of Hedge Fund Holders In Q2 2025: 55
lululemon athletica inc. (NASDAQ:LULU) made the news earlier this month after its shares closed 18.6% lower on September 5th. Media reports attributed the dip to the firm’s latest earnings release. As for Cramer, he has frequently discussed lululemon athletica inc. (NASDAQ:LULU)’s legal troubles with Costco. The firm has sued the retailer for copyright infringement, and in this appearance, Cramer discussed Needham downgrading the stock to Hold from Buy:
“Carl just when you thought that Lulu couldn’t go any lower and there was nobody left to downgrade. Needham comes on, Buy to Hold, didn’t know anyone was left. It’s a competitive environment. And the top of Lulu I’ve always felt was when Costco came against them. So, what can I say, I mean. This company now sells at eleven times earnings. Calvin McDonald, we’re still waiting for him to come up with something that makes you feel like you should own the stock. And I happen to think Calvin McDonald’s very good. But it’s too early to buy Lulu. Which is remarkable.”
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