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 froth in the stock market. Cramer’s comments came amidst the AI wave, which has seen investors eager to buy stocks they believe have an exposure to what is described as another ‘industrial revolution’:
“Now there is so much froth, and we’re starting to see companies, I believe that, starting to see companies that are doing the secondaries. I’ve been waiting for that. They’re validating the fact that their price is up, but we can’t handle all the stock, we just don’t want all the stock dumped on the market. But at the same time we have legitimate companies that are, that must be bought.”
Where there are gains, there are short sellers, and the CNBC TV host recalled the market environment in 2000 after co-host Carl Quintanilla asked him whether the shorts would capitulate:
“Well I think that they are lucky. I mean the shorts see that there’s a bunch of deals just this morning. Where stock is offered. They feel like oh good, I know that there’s going to be supply. There’s too much supply, a lot of retail has, they’ve moved these stocks up. That’s what happened in 2000. You saw retail, that’s what happened to TheStreet, we weren’t able to offer, we weren’t as clever as some of the other companies, to offer stock. But once everyone offered stocks between March 15th of 2000 and March 15th of 2001, the number of offerings was extraordinary. And we were overwhelmed with them. And . . .the institutions couldn’t buy them all. The stock came down. That’s froth. That’s what I’m watching.”
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 October 8th.
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).
13. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders In Q2 2025: 235
If there’s one thing that can be said for sure, it’s that NVIDIA Corporation (NASDAQ:NVDA) is one of Jim Cramer’s favorite AI stocks. The CNBC TV host is in full concurrence with NVIDIA CEO Jensen Huang about the firm’s GPUs heralding another industrial revolution. During this appearance, he asserted that Huang believes that NVIDIA Corporation (NASDAQ:NVDA) is not engaged in circular deals:
“Now I thought that this morning was a great contrast, yesterday we had a Club meeting and we were talking, Jensen wanted to meet the millionaires. Who did he make a millionaire. . .Today was all about, I think a total affirmation about the way people are spending, because of the industrial revolution. This is the fourth and how you all we all wish we invested even more. Over and over he talks about how it’s not circular deals. It’s, well I wish I got in, I wish he got in, mentions CoreWeave, on tonight, Michael Entrator, terrific guy. I just felt that his one-two punch made me feel that you have to be involved in this as an investor.”
12. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders In Q2 2025: 124
Oracle Corporation (NYSE:ORCL) was the talk of the town last month after its shares shot up by a whopping 36% after it announced a $455 billion cloud order backlog. He discussed reports suggesting that the firm was losing money from using NVIDIA’s response and outlined NVIDIA CEO Jensen Huang’s take on the matter:
“[on reports of Oracle losing money from using NVIDIA’s chips and Jensen Huang’s response] Wonderfully profitable. I know, I have to believe that the Oracle people were thrilled that there is an actual explanation about how you buy these things and there is no immediate payoff. Look, when you’re building a hotel it’s true, there’s no payoff until about year five and I just feel like what he’s saying is, when you build these things, it’s, you’re not going to make money instantly. It would be great if you could. But The Information story could be right at the beginning, but at the beginning you’re trying to get a tradeoff like a Boeing plane. I would have used a Boeing plane as an analogy. Because when you first get a Boeing plane, holy cow, you’re losing money. It’s only in the later years that you start amortizing. Year four to year 23, the Boeing plane makes a huge amount of money. Maybe even year 30, because the planes are so good. But we don’t understand this new world yet. So you could have a scoop, that will look like not a foolish scoop, not a scoop at all, in a few years from now. But in the moment, it’s a gotcha. And the gotcha is basically, what is that organization saying? Well that organization is trying to break news as they have the whole way. That NVIDIA is overvalued. That if you’re short NVIDIA, you’d read that and you’d certainly would double down on your short. But you’d be doubling down at 20, at 50, at 80, at a 120 and then you’re done. You’re basically at the card table saying, I’m gonna get a ten and I’m gonna get a Jack and you run out money getting two fives, over and over again. And you split them.”
11. Joby Aviation, Inc. (NYSE:JOBY)
Number of Hedge Fund Holders In Q2 2025: 31
Joby Aviation, Inc. (NYSE:JOBY) is designing and developing electric vertical take-off aircraft. Its shares have gained 29% over the past month, and Cramer didn’t hold back when discussing the firm. Joby Aviation, Inc. (NYSE:JOBY) came to his attention after he and co-host Carl Quintanilla discussed market froth and speculative stocks. Here is what Cramer said about the firm:
“I saw JOBY and I said, wait a second, this is what I have been waiting for to say, okay I am concerned. Because that’s a 200 situation. JOBY goes up from 7 to 17 because people get all excited about cars that fly. And then boom they do this. Watch that deal. The first couple will probably work. Maybe investors will buy that. And after that, we have way too much, way too much supply and then the market goes down. That’s why you have to watch these, there you go, that’s why you have to watch these deals.”
10. Cisco Systems Inc. (NASDAQ:CSCO)
Number of Hedge Fund Holders In Q2 2025: 81
Cramer discussed Cisco Systems Inc. (NASDAQ:CSCO) as he recalled the firm’s valuation in the dotcom bubble and asserted that its valuation meant that the stock was fundamentally different this time:
“I do think this morning I looked and I saw Cisco, which I’ve owned and I owned it for this and I say oh god, thank god it’s come alive. And then I say, you know what, the analysts are going to use it, it’s going to go to 73, 74. Cisco, a very, very, very solid company with a great balance sheet, it’s been around forever. Often mentioned as one of the problems with 2000 because it was the largest company. But I think there’s haves and have nots. I think there’s companies that are going to be part of the buildout and. . .won’t.
“This is a fascinating time. Cisco, right now, they just unveiled a chip and networking system. . .to connect AI data centers. This is something that Broadcom has been doing quite effectively. So you might say, this is a good example of what’s going on. Here is Cisco, and we remember they were the most overvalued company in 2000, so someone’s going to say that. That was a different Cisco. But here’s Cisco, about 16 times earnings stock, not 400 times earnings. . .but I look at this deal, and I say, okay, Cisco and Broadcom, is there enough business for both. . . .My charitable trust does own them both. That’s not because we think that both of them are going to clash and therefore there’s only one winner. We’re doing it because there’s so much business to be had. That I think both are buys. And Cisco’s a very low multiple stock.
“The people who want very much to say, this is all a bubble, they have to contend with the fact that I think Cisco’s multiple’s around 16, 17. They must contend with the basics.
“I also think that they’re doing a lot in cybersecurity. . .we’ve stopped talking about that.”
9. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders In Q2 2025: 156
Cramer discussed Broadcom Inc. (NASDAQ:AVGO) after commenting on Cisco’s new networking chip called the Silicon One. This chip is designed to connect AI data centers. Broadcom Inc. (NASDAQ:AVGO) became a part of the discussion since the firm also provides custom AI chips for data center use. Cramer shared that a note from Melius Research had outlined that even though Cisco had launched a new chip, there was enough demand for both firms’ products:
“This is something that Broadcom has been doing quite effectively. So you might say, this is a good example of what’s going on. . . .but I look at this deal, and I say, okay, Cisco and Broadcom, is there enough business for both. This very morning, Ben Reitzes comes out with a piece, Melius, which says, do not worry about Broadcom. And the reason you don’t have to worry is because there’s so much business out there. Broadcom he’s talking about people using their chip, inside. But Broadcom is everywhere. I think that you can own them both. My charitable trust does own them both. That’s not because we think that both of them are going to clash and therefore there’s only one winner. We’re doing it because there’s so much business to be had. That I think both are buys.”
8. FedEx Corporation (NYSE:FDX)
Number of Hedge Fund Holders In Q2 2025: 67
FedEx Corporation (NYSE:FDX) is a frequent feature of Cramer’s morning show. He commonly comments on the firm’s CEO, Raj Subramaniam, and has discussed the firm’s recent results in earlier appearances. As part of his earnings discussion, Cramer commented that FedEx Corporation (NYSE:FDX)’s shares might continue their momentum following the firm’s earnings report. During this show, he mentioned the firm in the context of three stories, out of which FedEx Corporation (NYSE:FDX) was part of a group of stocks that were showing an economic slowdown:
“The FedEx shocked me. Because I was betting that Raj Subramaniam, this is going to be the big turn, he’s taking a huge amount of business from UPS. But they also. . .cut numbers UNP, they cut numbers CSX. That is slowing of the economy. So we have this slowing of the economy story, we’ve got the froth story, and then we’ve got the real companies that are doing quite well and they tend to be involved in the building of the data center.”
7. Agnico Eagle Mines Limited (NYSE:AEM)
Number of Hedge Fund Holders In Q2 2025: 52
Cramer discussed Agnico Eagle Mines Limited (NYSE:AEM) in the context of rising gold prices. Throughout the show, he maintained that he was a “gold bug,” which made the firm attractive due to the supply and demand dynamics of the gold sector. Here is what the CNBC TV host said about Agnico Eagle Mines Limited (NYSE:AEM):
“I have Agnico Eagle on tonight. You should go buy Agnico Eagle. They will demonstrate that there is a shortage of gold. It’s both sides. There’s not a lot of supply, they’re having trouble finding it. And the demand I think is very much related to a weaker dollar and related to the 37 trillion. I am such a huge gold bug. But I have been a gold bug the whole way. Because I have always felt that you need an alternative that is a great insurance.
“They’re the guys that have the most, they do it [mine gold] in the safest area. We are running out of gold in unsafe areas, it’s just turning out to be something, if you have gold, and you’re mining it, there’s going to be problems with the government. . . there’s a great scarcity value.”
6. Salesforce, Inc. (NYSE:CRM)
Number of Hedge Fund Holders In Q2 2025: 121
Cramer’s recent comments about customer relationship management software firm Salesforce, Inc. (NYSE:CRM) have wondered whether the firm has managed to become the standout SaaS stock in an era where the SaaS sector has suffered due to AI. This time, he discussed Salesforce, Inc. (NYSE:CRM)’s operating environment in detail:
“You saw the story about Salesforce, and they’re not gonna pay. A ransom. I thought that was very important. I’m going out to go see Dreamforce next week. I think what Marc Benioff’s doing, he’s presenting 12 people who are doing really, really well with this. And that matters. But at the same time, Jensen Huang this morning talked about how he writes his own code using an outfit that I frankly which I have never heard of before. And what it says is, hold it, are they disintermediating what’s being done by Salesforce? I’m speaking to a bank tomorrow, Live Oak, which was at a Federal Reserve meeting, which again is using code that says it’s no longer going to be stuck with Salesforce. So when you have this cursor that Jensen Huang talked about so eloquently this morning on Squawk Box, which he’s using to be able to write his own code, you want to say, okay, what code were they buying? What code were they buying?”
5. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders In Q2 2025: 54
Dell Technologies Inc. (NYSE:DELL) is one of the largest computer hardware companies in the world. The firm has exposure to the personal and enterprise computing industries. Dell Technologies Inc. (NYSE:DELL)’s exposure to server and data center development also allows it to experience catalysts from AI demand. Cramer discussed the firm’s CEO, Michael Dell, and chief operating officer, Jeff Clarke:
“Michael Dell popped into our meeting, and I was like, just congratulating him because this thing deserves a much higher multiple. After what happened yesterday, it gave up a lot of gains. But they presented a story where they essentially doubled the growth rate. And you know to me that’s a clarion call that you gotta go buy Dell. It’s not an expensive stock. Michael Dell and his family bought a huge amount of stock, as he said he would on Mad Money, when the stock dropped to 80, 90. Plus they reupped Jeff Clarke, who I think is one of the great unsung executives who does a lot of terrific stuff.”
4. Tesla Inc (NASDAQ:TSLA)
Number of Hedge Fund Holders In Q2 2025: 115
Cramer’s comments about Tesla Inc (NASDAQ:TSLA) in this episode were interesting when viewed in the context of his earlier remarks. Previously, he has asserted that the firm is more of a technology and robotics company instead of a car company. However, this time he shared that discussing Tesla Inc (NASDAQ:TSLA)’s vehicle deliveries was also important after co-host Carl Quintanilla pointed towards meek share price performance following the firm’s latest presentation and event. During the event, Tesla Inc (NASDAQ:TSLA) announced new versions of its Model 3 and Model Y, which were the entry-level variants of its vehicles:
“Well that’s because Daniel Ives wasn’t there to promote it. He was there and didn’t say the things, of course Tesla’s up a bit. I would say that remember, we are really in the tech mode, we’re in the autonomous drive, we’re in the software mode. Somehow, we’re not even talking about the sales. I think we should be talking about the sales. I’m looking at the BMW sales and they’re just awful.”
3. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders In Q2 2025: 335
Cramer mentioned Amazon.com, Inc. (NASDAQ:AMZN) as part of his discussion of NVIDIA CEO Jensen Huang. Remarking that it was “interesting” that Huang mentioned the firm, he discussed the firm’s decision not to aggressively buy NVIDIA’s AI GPUs for its cloud computing business:
“I thought it was interesting this morning. . .that he mentioned AWS as a possible key company. AWS has not spent enough. I think. Now, Amazon can disagree with me and of course they have every right to. And I’m looking at everybody else. They’re not thinking about the stock. And I do think about the stock. And maybe that makes me too mercantile myself, too mercurial myself. But I thought it was good to hear that AWS was on the list that may be doing a deal. I’d love to see announcements from Andy Jassy saying, hey listen, we’re buying a lot. And people who think we’re not buying a lot of NVIDIA are uninformed. Make me uninformed, Andy. . . It’s been a dog, but it’s been so good for so look. . .I gave up on Alphabet because it had been a dog for so long, it had fleas. But that was a mistake, I gave up incorrectly. I’m not going to give up on Amazon. Why? Because I like Andy Jassy.”
2. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders In Q2 2025: 113
Cramer discussed Advanced Micro Devices, Inc. (NASDAQ:AMD) as an afterthought following a remarkable week for the stock. The shares jumped by 23% earlier this week after it announced a partnership with OpenAI to provide chips and allow the latter to take a stake in its equity. Cramer’s remarks after the bombshell deal termed it a “verification of the total addressable market” of the demand for AI GPUs. He also outlined that Advanced Micro Devices, Inc. (NASDAQ:AMD) CEO Dr. Lisa Su stood vindicated after the deal, as it demonstrated the performance and quality of the firm’s AI chips. Cramer’s comments about the firm in this show built on his earlier remarks as he praised Dr. Su and Advanced Micro Devices, Inc. (NASDAQ:AMD) for not quitting and not giving up:
“Meanwhile, AMD, won’t quit. And that’s because it should never have been up only what it was that day. Lisa Su, she’s kind of this, that’s the Sub Rosa storyline the whole time. Yes. She is so deserving of it. She never quit.”
1. CoreWeave, Inc. (NASDAQ:CRWV)
Number of Hedge Fund Holders In Q2 2025: 29
CoreWeave, Inc. (NASDAQ:CRWV) has positioned itself to become one of the most important firms in the AI ecosystem. The firm provides computing infrastructure, including NVIDIA’s AI GPUs, to AI software companies to run their workloads. Its proximity to NVIDIA has also led to chatter about “circular transactions” between the two. The chatter grew after CoreWeave, Inc. (NASDAQ:CRWV) announced last month that it had entered into a deal with NVIDIA through which the latter would buy as much as $6.3 billion of excess capacity from the firm. NVIDIA is also a major investor in CoreWeave, Inc. (NASDAQ:CRWV) and played a key role in the firm’s IPO. As for Cramer, he has expressed pride in defending the firm against its detractors, particularly at the time of its public listing. This time, he shared that NVIDIA CEO Jensen Huang endorsing the firm’s business model was a good thing:
“Yes and I think it’s really important to recognize that their model was endorsed by Jensen even as the bears think it’s a bogus model.”
While we acknowledge the potential of CRWV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRWV and that has 100x upside potential, check out our report about this cheapest AI stock.
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