Jim Cramer, host of Mad Money, expressed doubts on Tuesday about OpenAI’s ability to cover the multibillion-dollar costs tied to its massive infrastructure expansion.
“Look out, the year of magical investing may be drawing to a close. All this year, pretty much anybody who bought stocks connected to AI and the data center, well, you know, you made money. You didn’t really need to think about it. But now looking at the market… It seems like the easy money may have been made.”
READ ALSO: Jim Cramer Offered Insights on These 16 Stocks and Jim Cramer Recently Discussed These 7 Stocks.
Asking what has caused him to reevaluate “the greatest story of the past three years,” Cramer noted that three separate developments have raised concerns that the number of winning companies in the data center space may shrink significantly. He said that, unlike the dot-com bubble of 2000, when there was essentially one big winner, this time there could be several successful companies, perhaps half a dozen or slightly more.
Cramer pointed to OpenAI’s massive deals with major tech companies and questioned whether it might need to borrow money to meet those obligations. He warned that any financial pressure on OpenAI could spill over to the broader tech sector. He also pointed out recent comments from CFO Sarah Friar as troubling.
“Am I declaring an end to the era of magical investing? How about this? I’m proclaiming that for the rest of the year, it’s the era of investing, not as if by magic, but as if by profits. And for that to happen, there’s going to be far fewer winners and a lot more losers. Bottom line: In this kind of environment, you need to start diversifying into other growth areas, perhaps in time to keep all the king’s horses and all the king’s men sidelined. Maybe OpenAI can come public and Humpty-Dumpty won’t have a great fall, but in the meantime, it’s something you need to keep an eye on. I know I am. And the eye, let’s just say it’s growing jaundice.”
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 November 11. 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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Jim Cramer Recently Put These 18 Stocks Under a Microscope
18. Amgen Inc. (NASDAQ:AMGN)
Number of Hedge Fund Holders: 62
Amgen Inc. (NASDAQ:AMGN) is one of the stocks Jim Cramer recently put under a microscope. Cramer showed quite a bullish sentiment toward the company’s stock, as he remarked:
“If you want to venture beyond what we call the CPG, consumer packaged goods, world, I think you’d do very well with owning J&J or Amgen… Amgen’s working on cholesterol with its Repatha injection, and it’s doing something very different with weight loss that could lead to terrific outcomes. They both have yields, more than 2.7%. How strongly do I feel about these former safety stocks? We have a monthly investment club meeting on Thursday, and I’ve told Jeff Marks, my co-portfolio manager, that we at least have to put one of these names in the bullpen. I don’t want to wait to look back and say, how did we miss that bottom?”
Amgen Inc. (NASDAQ:AMGN) develops human therapeutics that target diseases like rheumatoid arthritis, osteoporosis, cardiovascular disorders, cancer, and autoimmune conditions. Cramer discussed the company during the November 10 episode and commented:
“In the last few weeks, the long-dormant healthcare sectors finally started to show a little life. It’s so inexpensive, it’s crazy. Take Amgen, the big biotech company with a host of drugs for cardiovascular disease, inflammation, oncology, all sorts of rare diseases. This stock’s up roughly 20% from its late September lows, including a monster run last week when Amgen reported spectacularly better than expected quarter. Then this past weekend, the company announced some very promising heart attack prevention results from a phase 3 clinical trial of Repatha, that’s the cholesterol drug.”
17. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 95
Johnson & Johnson (NYSE:JNJ) is one of the stocks Jim Cramer recently put under a microscope. Cramer said that “you’d do very well” owning the stock, as he stated:
“If you want to venture beyond what we call the CPG, consumer packaged goods, world, I think you’d do very well with owning J&J or Amgen… J&J’s getting out of everything non-proprietary, artificial joints for example, and really bearing down on high-growth pharma with cancer being a specialty… They both have yields, more than 2.7%. How strongly do I feel about these former safety stocks? We have a monthly investment club meeting on Thursday, and I’ve told Jeff Marks, my co-portfolio manager, that we at least have to put one of these names in the bullpen. I don’t want to wait to look back and say, how did we miss that bottom?”
Johnson & Johnson (NYSE:JNJ) develops and sells healthcare products, including pharmaceuticals and medical technologies, with treatments in immunology, oncology, neuroscience, cardiovascular care, and infectious diseases. In addition, the company provides surgical systems, orthopaedic solutions, cardiovascular devices, and vision care products.
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