CNBC Investing Club: Cramer’s Morning Take on Amazon 9/1/26

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**Jim Cramer** (1:02)
Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 10 20 a.m. Visit cnbc.com/morningtake to sign up today. That's one word morning take.

**SPEAKER_4** (1:23)
We continue to see big multi-billion dollar deals in AI.

**Jim Cramer** (1:27)
Which are now a lot disliked and people don't believe that they're anything. They're just a shell game.

**SPEAKER_2** (1:32)
The newest one is this Anthropic.

**Jim Cramer** (1:33)
You can't convince anybody otherwise.

**SPEAKER_4** (1:35)
Yes, this Anthropic signing a cloud computing deal worth 35 billion with the NVIDIA back cloud provider Lambda. Baird writes, it just shows that NVIDIA will keep its share lead with the AI frontier labs.

**SPEAKER_2** (1:48)
Well, let me say, look at that.

**Jim Cramer** (1:49)
You say, okay, well, why didn't they go to JP Morgan?
Well, JP Morgan may not believe that compute can last seven or eight years. They just may not think it's worth it. They look at a company and they say, these companies are not money good. We're not going to give them money. NVIDIA looks at the property that they're buying and recognizes that there's a lot of value in it. It hasn't gone down in value because a lot of it's software update and recognizes that the worst that happens is they take the product back. Now, the people who don't like this are people who believe that this company is not telling the truth.
It is. It's truth, not truth. Because they have enough evidence to be able, why would Jensen be doing this? Why would he deliberately be lending an entity that is not, what I would regard as being money good? The reason is because the product is money good. But he's trying to do this compute consortium with some major banks. And we could all just say everything he does is fraudulent. Or we can say he is remarkable. And he's doing great things. And I am in the remarkable great things camp. That's who I am.

**SPEAKER_4** (2:53)
Well, a lot of these companies too are not public, so they don't have access to the bond market as a public company would in anthropic open AI. And by the way, so they're bringing down the cost of capital.

**Jim Cramer** (3:06)
Yeah, but remember, one of the things he wants to do is diversify his customer base. I know he had a big win for the Amazon, but he doesn't want just Amazon, Microsoft, Alphabet. You know, he wants other guys. I mean, I just feel I look at what he's trying to do.
And I say, wait a second, people don't realize this is a company that told me that you need to be that the Tranium is a $50 billion business, a semi-business. So I thought that was the end of what we were going to get from Nvidia there. Instead, it was big, but no one even cares one day after.

**SPEAKER_4** (3:45)
Yeah. You mentioned Amazon, the FTC and 22 state attorney generals filed a lawsuit against Amazon alleging it engaged in deceptive and unfair practices in its advertising business. The FTC alleges Amazon manipulated pricing and sponsored products, advertising, auction. The company responded to the lawsuit, noting that no harm has been made to consumers. They offer the lowest prices every day, some of their deals and coupons.

**Jim Cramer** (4:09)
That's how they defeated trade desks, the lowest price every day. This is very reminiscent of the Justice Department going up against Google and it went nowhere.
And people should recognize, if you sell it on this, you're just, you're not being historical.

**SPEAKER_4** (4:24)
How's that?

**Jim Cramer** (4:25)