In this article, we will look at the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. The host of CNBC’s Mad Money said on Thursday that the ongoing expansion of data centers is proving a major positive for the broader economy and added that he believes the trend is still in its early stages.

The data center, the data center, the data center. You’re probably tempted to say enough already… Give me something else. So on still one more day where the averages roared… I got an idea. Why don’t we take a look at some of the top performers in the S&P today, not the Sandisks and the Western Digitals, I know you’re sick of all those, just to figure out if they’re real companies in here. If the data center is too narrow a concept to lead the stock market, or as a whole, is this list representative of what we want? Because if it’s too narrow, then the market will have a hard time going further.

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Discussing the outperformers of the day, Cramer described it as a “manufacturing mosaic.” He added that such a thing has not been seen since a large portion of industrial production shifted overseas to countries such as China in search of cheaper labor. He pointed out that, not long ago, data centers seemed like a niche area with limited influence on the broader economy, but this quarter, the theme has moved into the mainstream. He added that after listening to various conference calls, he believes the current data center expansion is still in its early stages.

Listen, I got nothing against any other sector, including the consumer sector, the healthcare sector, but the bottom line: As far as I’m concerned, the data center is a windfall for almost every slice of the economy. I say don’t look a gift horse in the mouth, and instead, maybe you buy some of these stocks. I think there’s some real winners on that list.

Our Methodology

For this article, we compiled a list of 21 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 30. We listed the stocks in the order that Cramer mentioned them.

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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

Jim Cramer’s Opinion on 21 Stocks: Oklo, AST SpaceMobile, and Others

21. Cardinal Health, Inc. (NYSE:CAH)

Cardinal Health, Inc. (NYSE:CAH) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer mentioned the stock during the episode and said:

Cardinal Health, a company that had repeatedly come on Mad Money telling a terrific story, just imploded. Did I tell people to buy it? Well, it’s in my Trust. Ouch. Gotta put that one behind, but only after further investigation.

Cardinal Health, Inc. (NYSE:CAH) supplies branded, generic, and specialty medicines and provides pharmacy and specialty drug services. The company also makes and distributes medical and surgical products and procedure kits. During the April 23 episode, Cramer said that he is a “huge believer” in the company, as he commented:

Next, I’m a huge believer in Cardinal Health with a stock that’s just been annihilated here without any reason, other than, I think, a vicious rotation out of healthcare. Cardinal’s down from $233 to $204. It’s beaten the quarterly estimates repeatedly, shifts its model from being a pure middleman to being a drug wholesaler, to being a manager of services to its clients… Given the complexity of large independent medical organizations, Cardinal’s filling a gap in management for specialty chains that really don’t know how to run their own business. I think there’s maybe many more to come. High growth that now trades at less than 20 times earnings. To me, Cardinal’s a steal. Although we’ve been buying it for the Charitable Trust, and admittedly, I started early. Some would say wrong. Okay.

20. Seagate Technology Holdings plc (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer was slightly bearish on the stock during the episode, as he commented:

Seagate, which had just reported a terrific quarter, but with Western Digital, Sandisk, those stocks though, are really overextended for me. They’re way too parabolic. I say [sell, sell, sell].

Seagate Technology Holdings plc (NASDAQ:STX) makes hard drives, solid-state drives, and storage solutions for personal, gaming, and business use. During the April 29 episode, Cramer mentioned the company and remarked:

What’s working here? The shares of companies where they can’t make enough product in technology. No, not Amazon, not Alphabet, not Microsoft, not Meta, Seagate, Seagate, the maker of disk drives that store data, including data spewed from machines in the data center. Oh, Seagate’s been a horse for ages now, and it rallied 11% today on the conference call. They talked about how they can’t make their product fast enough. I don’t know when that will change because there aren’t enough machines available for Seagate to expand its disk drive production. Boy, that’s exactly what you want to see. That’s what the market wants.

19. AST SpaceMobile, Inc. (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Answering a caller’s question about the stock, Cramer said:

Okay, I like space. I like this one. I like, I gotta tell you, I think there’s a lot to recommend for speculating on space, and that’s what I’ve been recommending. Not a lot of speculation away from that, but that one, I think, works.

AST SpaceMobile, Inc. (NASDAQ:ASTS) builds and operates the BlueBird satellite network. The company delivers space-based cellular broadband that connects directly to standard smartphones. During the April 15 episode, a caller asked for Cramer’s advice on the stock, and he replied:

I like it very much. You know, I think that they’ve got a unique property. Look, I’m not calling for a takeover here, not necessarily, but after what I saw happen with Globalstar and Amazon, I mean, come on, let’s own this one.

18. Gladstone Land Corporation (NASDAQ:LAND)

Gladstone Land Corporation (NASDAQ:LAND) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. When a caller asked about the stock during the lightning round, Cramer remarked:

Yeah, I mean, I’ve looked at that from time to time. I mean, it’s a little guy acquires farmland. To me, you know what, I want growth. I don’t think that they have growth. I’m sorry, I’m not going to go there.

Gladstone Land Corporation (NASDAQ:LAND) is a real estate investment trust that acquires and manages a diverse portfolio of farmland that produces fresh produce, row crops, and permanent crops such as nuts and wine grapes. During the February 3 episode, a caller asked about the stock during the lightning round, and Cramer responded:

Oh, will you stop? I don’t know what they actually… Oh, they own farmland? Don’t know where, don’t know when. I think you should kaching-kaching that one.

17. Oklo Inc. (NYSE:OKLO)

Oklo Inc. (NYSE:OKLO) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. After mentioning a 10% drawdown in the stock, a caller asked whether they should add to their holdings or exit the position entirely. Cramer replied:

No, no, you don’t want to do that. It’s really speculative. I think you have enough. I think that the problem with Oklo is, it’s just too wild a trader. You can own it for a while. Don’t buy any more.

Oklo Inc. (NYSE:OKLO) designs advanced fission power plants to deliver scalable clean energy and develops nuclear fuel recycling technology that transforms waste into usable reactor fuel. A caller inquired about the stock during the April 2 episode, and Cramer replied:

You see, I think Oklo, while not a science project, not a science project, has very little prospects for making any money any time in the future that we think is important for a stock.

16. Reddit, Inc. (NYSE:RDDT)

Reddit, Inc. (NYSE:RDDT) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer commented on the company’s recent earnings report, as he said:

Reddit with a stock that’s down 36% for the year reported after the close, and I thought the numbers were excellent. Management also gave strong guidance for the current quarter. I think this remains a terrific story, one I highlighted in How to Make Money in Any Market. Reddit’s basically become a database of human conversations on the internet, and it’s essential for training artificial intelligence models. And they’re doing all of this without the massive capital spending plans of other big tech companies. To me, it’s a winner, and the after-hours market agrees with me. The stock’s up big.

Reddit, Inc. (NYSE:RDDT) runs an online platform that hosts communities where users connect over shared interests, exchange ideas, and share content such as posts, images, and videos. When a caller inquired about the stock during the April 16 episode, the Mad Money host responded:

No, no, Reddit should not have been down that much. I wish Steve Huffman would come on because he knows how much I think Reddit is a very, very valuable company. And I gotta tell you, if I had a bigger company and I could… snap up that $31 billion business, I would do it. I think that they’re, you can train on their stuff. It’s very exciting.

15. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies Inc. (NASDAQ:PLTR) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. A caller asked whether Cramer sees any catalyst for the company, and he replied:

Oh, okay, I’m glad you asked about Palantir. See, I’m looking at Palantir as a longer-term investment. It did have, look, it shot up… went to $150, it did that. Went to $200, did that. Came back down. But nothing’s changed in terms of how great they are. And I know that it’s difficult to say, hey, let’s buy a stock at $200 because it’s great. But I will tell you that this company is firing on all cylinders. It’s just the stock right now acts as if, well, it’s done, and it’s not done at all.

Palantir Technologies Inc. (NASDAQ:PLTR) develops data analytics and AI software platforms, including Gotham, Foundry, Apollo, and Palantir Artificial Intelligence Platform, that help organizations integrate, analyze, and act on complex data. Cramer highlighted President Donald Trump’s Truth Social post around the company during the April 10 episode. He stated:

Finally, I got one more, courtesy of President Trump’s post on Truth Social today, saying, “Palantir Technologies has… proven to have great war-fighting capabilities and equipment. Just ask our enemies”… Palantir, of course, is the software company that specializes in taking data from various sources and combining that into a single platform to make crucial insights. They got their start doing surveillance and analytics for the Pentagon.

Stock’s gotten hammered lately, down nearly 40% from its high last October, thanks to the same AI displacement worries that have crushed the entire software cohort, even though they shouldn’t be lumped into it. I don’t know if the President’s post will be able to get Palantir out of this rut, but it sure doesn’t hurt, does it? I find it infuriating that this company keeps getting confused with regular old software companies. This company’s a close advisor to CEOs at major companies about how to change their operations in major ways. I have talked to many of their clients, and they are in awe of how Palantir has helped them. Did it get too expensive? Oh, momentarily, yes, but I think it’s worked its way back over time.

14. Meta Platforms, Inc. (NASDAQ:META)

Meta Platforms, Inc. (NASDAQ:META) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer highlighted why the stock is declining, as he commented:

Finally, how about Meta Platforms? Oh man, this one really bothered me. It’s being clubbed like a baby seal… Down more than 8% today. It’s a shame because the company really did report a good set of numbers: 33% revenue growth, big beat, 62% earnings per share growth, which was much higher than expected. But ultimately, the investors focused on a couple of negatives that are real negative. First, Meta’s family daily active people, their term for users, missed expectations, actually, shrank versus the previous quarter. Okay, look, they blamed the outages in Iran, blockages in Russia, but that was a cold comfort to shareholders. I don’t like blame. On top of that, Meta raised its full-year CapEx outlook by $10 billion, taking it to a range of $125 to $145 billion, for what, blaming the increase on higher component prices, especially for memory and data storage.

We saw a lot of those companies report in the last 24 hours, and they’re making too much money. But what can you do? It’s capitalism. I think Meta simply just didn’t do a good job of justifying their AI spending… It sure feels like Meta is suffering from the lack of cloud infrastructure business, though, something that’s been printing money for Alphabet, is good for Amazon, and Microsoft’s good, too. It’s very easy to explain how building data centers can make this kind of business more lucrative. Now, Meta would tell you that their spending is working too, pointing to how their AI tools are boosting the core advertising business…

And the daily users’ miss notwithstanding, Meta’s overall number’s pretty impressive. It’s their best revenue growth in five years, for heaven’s sake. Let’s not get too down about this thing. It’s just that Meta is not the same as the other big tech companies that are seeing their cloud infrastructure divisions explode. At the end of the day, Meta is spending heavily like the other hyperscalers, but it’s seeing the benefits come through an advertising business, not a cloud business, and investors just aren’t as impressed with that. Remember, a lot of that has to do with small and medium-sized businesses. People are always worried that they’re not going to do well if the economy slows down. Maybe the Meta sell-off today was overdone. I’m going to spend a lot of time with club members to try to figure that out. But it happened.

Meta Platforms, Inc. (NASDAQ:META) develops technologies and applications that connect people through social networking and messaging. The company’s portfolio includes Facebook, Instagram, WhatsApp, Messenger, Threads, and virtual and augmented reality products.

13. Microsoft Corporation (NASDAQ:MSFT)

Microsoft Corporation (NASDAQ:MSFT) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer discussed the company’s latest quarterly report, as he remarked:

Third, there’s Microsoft, much tougher, okay, and I mean like much tougher. They got clobbered today, down nearly 4%. Ouch. I didn’t want this. But rooting doesn’t mean anything, right? We don’t root for stocks… Microsoft delivered a nice top and bottom line beat, revenue up 18% year over year…. All major lines came in ahead of expectations. The key number for Microsoft these days is Azure revenue growth. That’s the company’s cloud infrastructure business, and it’s where the lion’s share of Microsoft’s investment spending’s going. For the quarter, Azure revenue grew 40% year over year, fabulous, a point ahead of expectations. Some people will say two points ahead.

Then we got what I thought was a solid conference call. Management said Azure could grow 39 to 40% in constant currency during the current quarter. That’s much better than what analysts were expecting. I cheered that. But then there’s Microsoft’s overall revenue guidance for the current quarter, and that was a little light. And their total paid Copilot users was 20 million, which you know, some were underwhelmed by that. I thought it was okay. At the same time, Wall Street didn’t seem to like what Microsoft had to say about its CapEx budget. Unlike the other big tech companies, they had basically been giving you this guidance on a quarter-by-quarter basis.

This time, management said they’d have over $40 billion in capital spending this quarter, higher than expected. And they indicated it could go even higher in the coming quarters, offering a CapEx forecast of $190 billion for the calendar year 2026. No, after that CapEx commentary, the stock started rolling over in after-hours trading, and it kept sinking today. In the end, I think Microsoft just didn’t give investors enough good news to justify the elevated spending levels that they were projecting. Do you know that this was actually, it was looking up nicely, but people hadn’t put pen to paper and figured out exactly that they were spending a lot, they’re spending more money. We don’t want that.

Microsoft Corporation (NASDAQ:MSFT) develops software, hardware, and cloud-based solutions. The company provides products like Windows, Azure, Office, LinkedIn, and Xbox.

12. Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com, Inc. (NASDAQ:AMZN) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer believes the company’s recent quarter was “very solid,” as he said:

Now, next up, Amazon. Very good numbers, even if the stock didn’t get any love. The stock was volatile in after hours trading and ultimately gained less than 1% today. In the end, I thought it was a very solid quarter, 17% revenue growth, 75% earnings per share growth, the latter being much, much better than expected, even if it included a large pre-tax gain from Amazon’s early investment in Anthropic.

Still, when you look at the operating income, that was up 30%, also well above expectations, the stock should have been up more. But you know, it ran into the quarter. Amazon’s retail business was strong. Advertising business boomed, up 24%. Now, Amazon Web Services, this ended up being the star of the quarter, up 28%, its best growth in almost four years. That’s a huge increase on a $129 billion division of Amazon’s. Their custom chip business now has a $20 billion annual revenue rate. That’s going to go much higher.

So what’s the problem here? Amazon’s guidance for the current quarter was more mixed, good revenue, but merely in line operating income. I think the stock would’ve gotten hit even harder if Amazon had raised its full-year capital expenditures forecast. Hey, for what it’s worth, I thought that CEO Andy Jassy was the most thoughtful explainer of why that spending will pay off. These data center investments are very profitable for Amazon. I think the stock goes higher. I was surprised that it didn’t go more high, but remember that’s that parabolic move that I tell you about. Parabolic moves do not continue. They consolidate, or they go down. I think this one’s just consolidating.

Amazon.com, Inc. (NASDAQ:AMZN) sells consumer goods and digital content through online and physical stores, provides advertising and subscription services, operates Amazon Web Services for cloud computing, develops electronic devices, produces media content, and offers programs supporting third-party sellers and content creators.

11. Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer noted that the company’s quarter “wasn’t perfect,” as he stated:

I want to dig into what we heard from big tech and what it means for the rest of the market. Why don’t we start with Alphabet, which saw its stock… up 10% today in response. Alphabet reported an incredibly strong quarter with 22% revenue growth, 82% earnings growth, 82%, both coming in well above expectations. Alright, the quarter wasn’t perfect. They had some small misses, YouTube, advertising… Other Bets business. The most important parts of this company, though, were very much strong. The core Google search division was up 19%. Google Cloud, their web infrastructure business, saw its sales skyrocket 63% to $20 billion.

This is the part of the business where they’ve been spending a fortune on data centers. Right now, that’s looking like a great investment. Yeah, you heard me. What else? We know that Gemini Enterprise saw paid monthly active users jump 40% quarter over quarter. They also talked about the tremendous demand for their custom-built TPU chips from AI labs and other customers.

And this, you have to understand, that’s stuff that they make, okay? That’s not NVIDIA. Now, Google did bump up its full-year capital expenditure budget by $5 billion, taking it to the $180 to $190 billion range. CFO Anat Ashkenazi mentioned that they expect the CapEx budget to significantly increase again in 2027… insane amount of money. But Alphabet’s producing spectacular results, so Wall Street was happy to get behind it. See, they not only have that line of sight that I talked about, they are coining money now.

Alphabet Inc. (NASDAQ:GOOGL) provides technology-related products and services, including search, advertising, cloud computing, AI tools, and digital content platforms such as YouTube and Google Play.

10. Mastercard Incorporated (NYSE:MA)

Mastercard Incorporated (NYSE:MA) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer explained why the stock “got hit,” as he said:

What just happened to the stock of one of my longtime favorites, Mastercard? This morning, the payments company reported what I thought was a very strong quarter in the face of a very tricky economic backdrop. Stock sold off more than 4% today. It’s now down 12% for the year. While Mastercard delivered a healthy top and bottom line beat, their guidance to some was a little disappointing, expense side. So the stock got hit. I don’t think it should have been down 4%, though.

Mastercard Incorporated (NYSE:MA) provides payment processing and related technology solutions. The company provides credit, debit, and prepaid products, along with digital, cross-border, and business payment services. L1 Capital stated the following regarding Mastercard Incorporated (NYSE:MA) in its Q1 2026 investor letter:

Mastercard Incorporated (NYSE:MA) and Visa remain two of the Fund’s largest holdings. Both businesses continue to deliver consistent financial performance, with double-digit earnings growth. Despite this, share prices have drifted over the past 12 months and underperformed the broader market, including a decline of more than 10% during the March quarter. This underperformance reflects concerns that emerging technologies – including agentic commerce, stablecoins and alternative payment rails – may disrupt the traditional payments ecosystem.

9. Intuitive Surgical, Inc. (NASDAQ:ISRG)

Intuitive Surgical, Inc. (NASDAQ:ISRG) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. A caller asked for Cramer’s thoughts on the company, and he said:

Here’s the thing: Both J&J and Medtronic claim they’ve got competitors. And I am worried that one of those two is going to hit pay dirt, and that is going to hurt Intuitive Surgical.

Intuitive Surgical, Inc. (NASDAQ:ISRG) designs and manufactures robotic systems and instruments that enable minimally invasive surgical and diagnostic procedures. During the March 19 episode, a caller asked which metric is the most important for the company. In response, Cramer commented:

It’s hospital utilization, and what gets me down here is that the stock, the earnings are good, but the multiple is too high. And when I say that, you have to go back to How to Make Money in Any Market. My book spends a lot of time about the idea that, you know what, if the multiple’s too high, it doesn’t matter what the sales are and the earnings [are], it’s just not going to be able to go higher. And that’s going on with Intuitive. It’s just gotten too expensive per share.

8. Apple Inc. (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer reiterated his “own it, you don’t trade it” phrase for the company’s stock, as he remarked:

Now, I know that it wasn’t on the list, but this evening, we got a staggering set of numbers from Apple, or at least I thought so, as there was a controversy of how strong the iPhone really was. But I’ve gotta tell you, I think that Apple is having no controversy whatsoever. And tomorrow, we will realize that revenue up 17 is pretty… good, that the guidance is good. And as far as I’m concerned, you had a chance to buy it after they reported. And people once again didn’t understand the greatness of Apple… I say, Apple, you own it, you don’t trade it.

Apple Inc. (NASDAQ:AAPL) manufactures and sells devices such as the iPhone, Mac, iPad, along with its line-up of wearables and accessories. The devices are supported by the company’s app ecosystem, AppleCare, and cloud tools.

7. Caterpillar Inc. (NYSE:CAT)

Caterpillar Inc. (NYSE:CAT) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer highlighted how the company is benefiting from the data center build-out, as he commented:

I remember the days when our economy ran only on the consumer… However, with the arrival of data centers, no surprise to see that Caterpillars on the list of hottest stocks, up 10% today… It’s got a ton of business from the data center build-out. In a new twist, though, investors, actual investors, are putting together groups, buying and then going and buying, okay, get this, buying hundreds if not thousands, of engines, CAT engines.

They’re stringing them up… And they are taking the natural gas from the hills in West Virginia, pumping it through these actual Caterpillar engines and building their own power plants basically off the grid. And this is just driving a huge amount of business for CAT. I was always worried these guys might have too much inventory. After I heard that story, I worry they don’t have enough. And again, if the power grid has to get much bigger, that means a lot of construction for the utilities. Who do you think they’re going to call? That’s right, Caterpillar, and a huge number of workers. Again, strong for the economy.

Caterpillar Inc. (NYSE:CAT) provides heavy machinery, engines, turbines, and rail equipment. In addition, the company offers power systems, parts, and support that keep the equipment working.

6. Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY) was among the stocks Jim Cramer highlighted, as he discussed the massive AI infrastructure buildout. Cramer noted that the company is “creating a lot of jobs,” as he said:

Okay, then there’s one that’s totally away from manufacturing or industry or tech, and that’s Eli Lilly. It was up 10%. Lilly astounded people today by reporting a fantastic quarter with encouraging prescription data for the new pill form of the GLP-1 drug, Foundayo. There was some worry that this drug had gotten off to a slow start. A lot of rumors going around Wall Street that it was a bummer. Novo Nordisk was said to be way ahead of Lilly because it got approved earlier. As is often the case, the Wall Street gas-bags got it wrong.

When David Ricks, CEO of Lilly, came on CNBC this morning, he said that things were pretty strong. Strong demand for the pill, more than 20,000 people now taking it, even as the company had only just started marketing it and building the brand. That’s good news for my Charitable Trust. We’ve been telling people to stick with Lilly no matter what. Just too much good going on there. I think that Eli Lilly’s gain today is sensational, and this company is creating a lot of jobs… But it is, alas, a healthcare company, and healthcare companies are not indicators of good times. When it comes to the stock market, drug companies, they’re bad leaders.

Eli Lilly and Company (NYSE:LLY) develops and markets medicines for diabetes, obesity, oncology, immunology, neuroscience, and other chronic conditions.

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