NVIDIA Corporation (NVDA) Will Be Just Fine Despite Custom AI Chip Debate, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Dismissed A Recession. NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer recently discussed.

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NVIDIA Corporation (NASDAQ:NVDA)’s shares have continually struggled since the firm’s second-quarter earnings report. They have lost 5.5% since then and were lower last week following Broadcom’s earnings. Broadcom, which designs custom chips, revealed that it had signed a new customer for a $10 billion deal. Investors wondered whether the deal meant that NVIDIA Corporation (NASDAQ:NVDA) could lose out on customers. Cramer commented on speculation about OpenAI being the mystery $10 billion customer:

“Yeah look I, I don’t want to be contrarian about too many things. . .but I would say the reason I even knew about OpenAI was that Jensen Huang, CEO NVIDIA, told me that really that they were the first company to really understand what Jensen had. And their partnership dates back the longest of any one of these hyperscalers. So I know I read this stuff and it says okay well this is a threat, an existential threat to NVIDIA and NVIDIA stock is down and then I read Ben Reitzes, who’s been the most right about this, particularly with Hock, with the CEO of Broadcom, he says no time to debate about, there’s so much business, there is a huge amount of business.”

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