Jim Cramer Wonders How Many Times Amazon (AMZN) Has Announced NVIDIA Chip Competitors

We recently published Jim Cramer Discussed Expensive Phones, A Cheap Stock Sector & These 18 Stocks. Amazon.com, Inc. (NASDAQ:AMZN) is one of the stocks discussed by Jim Cramer.

eCommerce and cloud computing giant Amazon.com, Inc. (NASDAQ:AMZN)’s shares are up by a modest 16.6% over the past year and by 7.9% year-to-date. Like other hyperscalers, the firm is also seeking to grow the relevance of its custom AI chips. This aspect has also been discussed by Cramer on several occasions. For instance, last year he went against Amazon.com, Inc. (NASDAQ:AMZN)’s management to claim that NVIDIA’s were better. Later on, he changed his mind. In a recent Mad Money episode, Cramer remarked that the firm was cleaning up with its Amazon Web Services, advertising, and semiconductor businesses. He added that Amazon.com, Inc. (NASDAQ:AMZN)’s AI chips will also hold their value over time. Bank of America discussed the firm on June 11th as it kept a Buy rating and a $330 share price target. In a recent tweet, Cramer continued to opine on the custom chips:

“Google and Amazon announce once again that they have competitive chips to Nvidia and they are going to sell them to others…. How many times have they done that? Benchmarks? Clients?”

While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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