Jim Cramer, host of Mad Money, pushed back on Monday against comparisons between the current wave of artificial intelligence investment and the dot-com bubble of 2000.
“If you listen to the conventional wisdom, the hyperscalers, whatever that means… have spent too much money on data centers and are now in the if you build it, they will come mode, which tends to be a bad business strategy. Most people seem to assume that these incredibly large investments are just lighting money on fire. We’re told history will repeat itself.”
READ ALSO Jim Cramer Shared His Recent Takes on These 15 Stocks and 16 Stocks on Jim Cramer’s Radar Recently
Cramer argued that such an interpretation misses important differences between then and now. He emphasized that most of the companies making these investments today are not only extremely profitable but also financially flexible enough to absorb potential losses, although he made it clear that he does not expect them to need to take that route.
While Cramer questioned the alarmist view of an AI-driven bubble, he mentioned that some degree of skepticism is valuable. He explained that the widespread doubt serves as a form of discipline. He said, “If there weren’t such a negative bent to the story right now, everyone would be in this pool, and we’d all drown.”
“Here’s the bottom line: Speaking as an internet pioneer, what I see now is the polar opposite of what we were seeing 25 years ago. When the dot-coms made bad investments, nearly all of them went under. But, worst-case scenario, if Google and Amazon and Meta make bad investments and take big losses, that’s just another day at the office.”
Our Methodology
For this article, we compiled a list of 18 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on September 29. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the second quarter of 2025, which was taken from Insider Monkey’s database of over 900 hedge funds.
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).
Jim Cramer Recently Expressed Thoughts on These 18 Stocks
18. Wells Fargo & Company (NYSE:WFC)
Number of Hedge Fund Holders: 75
Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer recently expressed his thoughts on. Cramer highlighted that he is “sticking with it for the trust,” as he commented:
“Wells Fargo’s up more than 20%… Now, though, banks are being valued on growth. I love buying growth stocks… Wells Fargo got a downgrade from Morgan Stanley amid a slew of upgrades… We own it for the Charitable Trust, and I think this is a real bad call. Wells under CEO Charlie Scharf hasn’t even [had] much of a chance to grow because it spent seven years under a Fed-imposed asset cap, punishment for the misdeeds of the previous management team. But now the asset cap’s gone, and Wells is working to become a growth bank with lots of capital markets exposure. And that’s why we’re sticking with it for the trust. What makes me think there’s still room to run? Because the big banks are still cheap on earnings… Wells Fargo does the same, just 14.”
Wells Fargo & Company (NYSE:WFC) is a financial services firm that provides banking, investment, lending, and wealth management solutions for individuals, businesses, and institutions.
17. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders: 124
JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks Jim Cramer recently expressed his thoughts on. Cramer highlighted the firm’s low valuation despite being at its 52-week high. He said:
“This morning, EA, the old Electronic Arts, got a $55 billion bid, the largest all-cash sponsored take-private deal in history. Silver Lake’s the prominent name among the buyers, but it’s PIF, the Saudi sovereign wealth fund, that’s putting up most of the money. Well, there’s a buyer for you… JPMorgan’s advising the buyers and providing $20 billion in debt financing. These are huge tickets. Big enough to influence the quarter for JPMorgan… JPMorgan stock is up almost 32% for the year… What makes me think there’s still room to run? Because the big banks are still cheap on earnings. JPMorgan, despite being at its 52-week high, sells at about 16 times earnings.”
JPMorgan Chase & Co. (NYSE:JPM) is a global financial services firm providing consumer and commercial banking, credit, lending, and payment solutions, along with investment banking, securities services, and risk management. The firm also delivers wealth and asset management, retirement planning, and advisory services for individuals, institutions, and governments.
