Cramer's Morning Take: Nvidia 5/13/24

Jim Cramer (0:02)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. One of the things that I've noticed and been talking about is the absence of news in the market goes higher. That's a bull market. People don't want to call it a bull market because they're afraid it will worsen the bear market, and they play YouTube tape, and it looks like you're an idiot. But the fact is that the vacuum goes to the bulls, not the bears.

SPEAKER_2 (0:26)

Yeah, we saw that play out last week. Not a lot of major news, economic news, last week. We'll have some events later in the week, PPI tomorrow, CPI Wednesday. So those will be important as well. Then I'm looking out even further in Nvidia earnings coming up as well. Obviously, that's a big one.

Jim Cramer (0:43)

And I know that Ben Reiches, who's been very right, by the way, at Mellius, is talking about how this still should be a beat in race. A little worried about August and November. But what he reminds us is that there's something beyond the quarter. So there's a Dell meeting, and I want people to understand that Michael Dell has the most solid relationship with Jensen of any of the, not the hyperscalers, but the implementers.

So that's going to matter.

SPEAKER_2 (1:07)

And he also brings up the point, don't forget, all these hyperscale companies, the Metas, the Amazons, the Microsofts of the world, they all raise their capex.

Jim Cramer (1:15)

Exactly right.

SPEAKER_2 (1:16)

So perhaps there may be some type of transition and video has to work through as they go into the Blackwells platform. But everyone is still spending more and a lot of that money is going to flow to NVIDIA because they dominate the AI ecosystem.

Jim Cramer (1:32)

Now, Collette Crest, the excellent CFO of NVIDIA, has always emphasized to me that NVIDIA is not like Intel where you have these iterations and people hold up for the acceleration. There's still people scrambling for the H200.

SPEAKER_2 (1:44)

On allocation as you bring up all the time.

Jim Cramer (1:46)

Yeah, and that they all work together. So if you get 10 H200s, that's equal to a Blackwell, so it's not a typical transition. A Blackwell will be the must, and that's because Blackwell allows you to go high-speed video.

High-speed video and the latency would be amazing.

SPEAKER_2 (2:02)

And we saw some good numbers from Taiwan semi last Friday, which I think is worth mentioning.

Jim Cramer (2:06)

I'm surprised this is down. It was up nine, but the group trades together.

Start your day with my outlook on the daily market every morning at 10:20 a.m. Visit cnbc.com/morningtake to access all the benefits of being a CNBC Investing Club member.

SPEAKER_3 (2:29)

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