Cramer's Morning Take: Nvidia 3/20/24

Jim Cramer (0:01)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club Morning Meeting. Jeff, we've got a mixed market, maybe that's because people are on hold, because the Fed meets today, treasury yields mostly unchanged.

I would say, though, that I think that once we get this out of the way, I think we're going to resume a tech rally, given all the things I've heard out here with Nvidia.

Jeff Marks (0:24)

Yeah, I think getting it out of the way is the key point, right? I think everyone's talking about Chair Powell probably leading hawkish later today. It will probably happen, but I think the market understands that. After last week, the move up in yields is still. But I agree with you, I think Nvidia, still the big story.

You had your interview with Jensen, a two-parter so far Squawk on the Street and Mad Money last night, another round coming later tonight. Can't wait for that. But I just thought the interview and everything they announced at GTC, so impactful, not just what Nvidia is doing, but really for society as well.

I have a few notes I want to highlight. Anything you want to talk about specifically first?

Jim Cramer (1:08)

Yeah, I think that we got to talk about allocation.

I believe that the new chips, this Blackwell, are so powerful that everybody who you see in this room wants some, but you can't. They'll come out later this fall. They are game changers. I like to compare them to a propeller plane versus a jet plane.

If you listen to the robots here right now, they seem a little bit, I'd say, off their game. The new robots will be empowered to be able to talk much better, to be much more fluid. That's just a good example of one thing that will change once you can get Blackwell. There'll be many things to change because it is such a step function ahead of what we currently have.

Jeff Marks (1:51)

No, I think that's a great point, too. And another thing, keep in mind when we first had this rush of demand for these AI chips, I don't really know if the supply was ready for it, right? You know, generative AI and chat GBT, that was kind of an overnight sensation. At least now, there's a little bit more of a roadmap to make these chips. And one more thing I'd add about Blackwell's, too, is they really stress this point at GTC and at the analyst Q&A that they had yesterday. This is a platform of hardware and software. It's a computer system. So you can't really think of Nvidia as this commodity chip company anymore because they're building supercomputers.

And these supercomputers contain both hardware and software, but it's networking as well.

And I think that's one of the key differences here that that's the argument Nvidia is really trying to make right now. Don't think of it as commodity anymore.

Jim Cramer (2:43)

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SPEAKER_3 (2:57)

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