Jim Cramer Says “I think I like CoreWeave”

CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks that Jim Cramer shared thoughts on. A caller asked what Cramer thinks of the company, and in response, he said:

“Alright, I think I like CoreWeave and I like Michael Intrator, but I would say the stock is $60 billion, and it’s going to have to come down and cool off a little bit. There are too many shorts in it. The shorts are covering right now. Once they’re finished covering, I think the stock does drop, and you can take a look at it.”

A futuristic datacenter with servers and high-tech equipment, signifying the company’s cutting-edge digital technology.

CoreWeave (NASDAQ:CRWV) provides a cloud platform designed to scale and accelerate generative AI workloads, delivering GPU and CPU compute, storage, networking, and managed services. The company also supports AI training, rendering, and dataset optimization through specialized tools and infrastructure. During a June episode, Cramer called the stock “overbought.” He commented:

“I think it is overbought. I think it’s up on a short squeeze. I think the stock is just way too high. I mean, look at this. I mean, prices at $40, it should have never priced there when it did its IPO. People didn’t like it. They didn’t understand the balance sheet. Lots of hedge funds got shorted here, thinking that this thing really was not worth anything at all. I recommended buy it the whole darn time. The whole darn time.

… What I need to tell you is that if you bought it here, you can take off half of your position, half of it, and then you’re playing with the house’s money. Who doesn’t want to play with the house’s money? That’s the goal. The goal if you want to be a great investor is the house’s money. And that’s what you have if you bought CoreWeave when we said that we liked it. The relationship with NVIDIA is very solid, and NVIDIA owns a big chunk of CoreWeave.”

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