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Cerence Inc. (CRNC) Might Be A Hidden Gem, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Asserted He Could Beat The Government’s Numbers. Cerence Inc. (NASDAQ:CRNC) is one of the stocks Jim Cramer recently discussed.

Cerence Inc. (NASDAQ:CRNC) is a software company that caters to the needs of the transportation industry. Its shares have gained 60% year-to-date and gained an unbelievable 45% in August. Cerence Inc. (NASDAQ:CRNC) is benefiting from the AI wave through having landed major deals, such as a partnership with Mercedes-Benz. Cramer discussed the firm in the context of it being an outlier that could be interesting in the AI era:

“I’m doing a piece about Cerence tonight. People are going to want to find out what I’m saying there. There’s a lot of technology away from these big companies that is better than the big companies.”

Here are Cramer’s previous thoughts about Cerence Inc. (NASDAQ:CRNC):

“I like Cerence, and I also happen to like Brian Krzanich, the CEO. I am partial. They make money. I think you’ve got a winner. I was actually trying to figure out whether I could justify doing a piece on it because it’s not that expensive. Cerence is a winner, and Brian’s always welcome on the show, as we know.”

While we acknowledge the risk and potential of CRNC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRNC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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