Cramer's Morning Take: Oracle 9/10/24

Jim Cramer (0:02)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. We've got a really interesting market where the banks are down because of some comments made by JP Morgan. We are a little oversold, just.42, not enough. But Oracle's Conference School, and I always lament Oracle because obviously I was a couple quarters had to give up on them because they just kept missing and missing. But when they got it right, they got it right big time. And this is reverberating throughout the market because Larry Ellison, who is the founder, said that they have 162 data centers. Well, you know we are heavily levered at data centers with the portfolio. He needs 1,000 to 2,000 more.

Jeff Marks (0:41)

Yeah, or more. And the largest of these data centers right now will contain acres of NVIDIA GPU clusters, able to train the world's largest AI model. So certainly a big endorsement for the continued build out of these data centers.

Jim Cramer (0:59)

And by the way, you don't hear Larry being talked about much with Jensen Wong. It doesn't matter. He's a huge customer.

Jeff Marks (1:05)

Yeah, and the move today, it's showing today also in the other hyperscalers, Amazon, who they announced a partnership with, AWS, Alphabet, Microsoft as well. They're all trading higher in reaction to the results. And you also had, by the way, Taiwan Semi put out some numbers this morning. They didn't like the Taiwan Semi numbers. August sales of 33%.

Jim Cramer (1:24)

They didn't like them.

Jeff Marks (1:25)

Yeah, it sucks down.

Jim Cramer (1:27)

But I think the problem is, NVIDIA is not the way people are playing this. They feel like NVIDIA has been played out. They are taking a look at Microsoft, for instance. Look at this. It can't hold. Now, it can't hold because there are a lot of people who genuinely believe that this is unsustainable. That it shouldn't be up the most in the SMP. Well, I can't do that. I can't just like, let's just take it down to 90 where it's not. I mean, I don't know. I don't know what to say other than the fact that they are the big winner from what our local is talking about.

Jeff Marks (1:56)

Sure. Absolutely. They're not going to change anytime soon.

Jim Cramer (2:01)

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SPEAKER_3 (2:19)

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