Jim Cramer Left Stunned By Amazon.com (AMZN)’s Sudden Change In Fortune

We recently published 11 Latest Stocks Jim Cramer Talked About. Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks Jim Cramer recently discussed.

OpenAI and Amazon.com, Inc. (NASDAQ:AMZN) created waves in the media after the former announced a $38 billion cloud deal for the latter’s cloud computing business. Cramer has regularly discussed the cloud business, called AWS, and in this appearance, he marveled at how the AWS narrative had shifted within a week:

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“[On OpenAI’s Amazon deal] 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.