Jim Cramer Calls Amazon’s E-Commerce Business a “Huge, Giant Tailwind in This Backdrop”

Amazon.com, Inc. (NASDAQ:AMZN) is one of thetech and consumer sector stocks that Jim Cramer talked about. Cramer made a note of his appreciation of the company’s e-commerce business, as he commented:

“Let’s not forget there’s a lot of consumer in tech. Amazon, for example, is more than Amazon Web Services, even though Wall Street only seems to talk about that. Remember, they still have this e-commerce website that you’re on every minute, and that’s a huge, giant tailwind in this backdrop.”

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Amazon.com, Inc. (NASDAQ:AMZN) sells consumer goods and digital content through online and physical stores, provides advertising and subscription services, operates Amazon Web Services for cloud computing, develops electronic devices, produces media content, and offers programs supporting third-party sellers and content creators. Cramer discussed the company during the December 17 episode and stated:

“These days, we’re constantly hearing about what I call these Lazy Susan deals, except they’re being celebrated as good news for both parties. Today, for example, we learned that OpenAI is in some talks to raise at least $10 billion from Amazon, some of which could be spent on Amazon’s AI chips. We heard applause for this all day. Basically, Amazon’s giving OpenAI at least $10 billion, even as OpenAI has a very stretched balance sheet with huge obligations that dramatically exceed its ability to bring in cash.

In return, OpenAI will spend that money on Amazon’s chips instead of maybe using NVIDIA’s. Doesn’t that raise some eyebrows?… Amazon’s a serious company. I don’t know why it would pay OpenAI to use its own chips. I found the whole thing quizzical… I know that Amazon Web Services and OpenAI had an existing partnership from early November, where OpenAI committed $38 billion for a multi-year deal to run its workloads in AWS. Does Amazon’s $10 billion payment to OpenAI help OpenAI pay for that agreement, too? Now, it’s entirely possible that people want to be involved with Sam Altman’s OpenAI so badly that they’re willing to invest in that company to get the money right back. But I’m growing ever more concerned that these kinds of deals… I’m starting to think that OpenAI is not that special with no moat around ChatGPT, and the deals are bad.”

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