Jim Cramer Is Surprised By Amazon.com (AMZN) Owning NVIDIA GPUs

We recently published 10 Stocks Jim Cramer Discussed Including His Palantir Deep Dive. Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer recently discussed.

Cramer has frequently discussed Amazon.com, Inc. (NASDAQ:AMZN) before and after its latest earnings report. Ahead of the earnings, he wondered whether the firm’s decision to focus on in-house Trainium AI chips was keeping its shares down. After the earnings, the firm surprised investors and the media through a $38 billion deal for its cloud computing business with OpenAI. Cramer continues to remain enthused about Amazon.com, Inc. (NASDAQ:AMZN) heavily buying NVIDIA’s GPUs as he commented:

“Now I think the one, it’s is very funny, because Amazon, is the one that I didn’t think was spending all that and then yesterday [inaudible] out I didn’t know they had so much. Did you know they had so much NVIDIA? Amazon, I didn’t know they had so much NVIDIA!”

The CNBC TV host discussed Amazon.com, Inc. (NASDAQ:AMZN)’s OpenAI deal in detail in an earlier appearance. Here is what he said:

“Five days ago Amazon was considered to be a, an also ran. That, Amazon Web Services was no longer, pitiful of a giant basically, versus everybody else. And now suddenly we discover, not only that after that great quarter that they just reported, where AWS was actually growing, 17 after 20 percent, well let’s just take the growth rate even up. David, this stuff is happening so fast, OpenAI is everywhere, there is an amazing Brad Gerstner, terrific interview with Sam Altman, Satya Nadella where. . .

“But did you notice the change in narrative from Amazon, they emphasized, over and over again, their own chip, until last week, where they said, listen we have a lot NVIDIA and we have a lot of our own chip, and then this is all about NVIDIA. . .it’s almost as if they’re saying, we’ve got the power. . .so if you want to take it back a week, a lot of these companies [inaudible] to being troubled. I mean NVIDIA we were worried about China. Amazon we were worried that they weren’t spending enough. And then Web Services was slowing down. Canard, just wrong. I mean Amazon just completely refuted that. The fair haired child was Alphabet, Alphabet not mentioned today.”

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