Jim Cramer Defends NVIDIA (NVDA) After AMD’s OpenAI Deal

We recently published 16 Stocks Jim Cramer Mentioned In An Episode Where He Said OpenAI Could Beat All Big Tech Giants. NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer recently discussed.

NVIDIA Corporation (NASDAQ:NVDA)’s shares slipped after AMD and OpenAI announced a deal through which the latter would buy chips from the former. However, Cramer was unmoved by the shares going lower as he dismissed the idea that NVIDIA Corporation (NASDAQ:NVDA) would experience any slowdown in demand:

“Yes I mean a lot of people felt that there is going to be a big order from Broadcom. That didn’t happen. I know that what it says to me about NVIDIA is look, they got in there, and they have a bigger view because it’s ten gigawatt. The power is amazing, the amount they need. I think that, in the end, I know that this is going to sound fatuous, I think everybody wins. So NVIDIA goes down maybe five, six today. And then you have to buy it. Because I don’t think there’s any change in the demand.

Jim Cramer Defends NVIDIA (NVDA) After AMD's OpenAI Deal

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“Jensen knows that Meta has to have social and glasses. He knows that self drive is Musk. He knows that robot is Musk. He knows that Google is search. No one wants to be Bing! This is about not being Bing! And I think people don’t understand, the shame of Microsoft that they [inaudible] Bing has been driving them for years.”

While we acknowledge the risk and potential of NVDA 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 NVDA 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.