Cramer's Morning Take: The Future of AI 9/11/23

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Jim Cramer (0:33)

Hey, it's Cramer. And this is my morning take on the market from today's CNBC Investing Club Morning Meeting.

Jeff Marks (0:39)

I'm Jeff Marks, joined by Jim Cramer, who's out in San Francisco.

I know you got Dreamforce coming up this week. A pretty busy week for you out there, Jim.

Jim Cramer (0:49)

Yeah, we're out here to find out whether AI is for real for beyond just certain use cases.

I have Frank Slootman tonight for Snowflake. There is definitely for real. Mark Benioff is billing this conference as the ultimate AI conference. And you know, Jeff, I get uncomfortable when everybody claims that they're big into AI, because what that says to me is that, even Slootman said that, is that look out. People are gonna get very tired of it if you can't make money off it. I'm worried, Jeff, can you really make money off it?

Jeff Marks (1:19)

Well, I think that's what we're all trying to figure out right now.

You know, can AI be used for something like an MRI machine from GE Healthcare? Or are there other applications as well? I know Microsoft has a lot of conferences coming up. That's one of the reasons why Citi put a 90-day positive catalyst watch on Microsoft today. But just turning to the markets real quick, we are higher, starting the week off higher. I think we've come off a little bit from the early market highs of the session. This comes even with rates moving slightly up today. I know Nick Timmeros of the Wall Street Journal, he put out a story yesterday talking about how the Fed likely to pause rates at its September meeting. But what happens after that? Still an open question. I know CPI is this Wednesday. That's gonna offer clues into the trend.

I know, but you kind of mentioned in your Sunday story, there's sort of a gauntlet of events we have to run this week, whether it's CPI, UAW strike.

Jim Cramer (2:21)

CPI is worrisome, because we've had two in a row that's going down. What happens if you have one that spikes up? We can't have that. And I think that's gonna make it so that, even though I obviously love Nick Timbers, I think he's the Fed whisperer, but the Fed doesn't have the CPI, so it's very hard to whisper ahead of something that might make you change your mind. I do think the auto strike is not as big as people are saying in terms of GDP, but psychologically, it's very, very big.

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