Jim Cramer Predicts The Impact Of Nvidia's Efforts 'Will Indeed Create The Next Industrial Revolution'
CNBC’s Jim Cramer expressed his belief that NVIDIA Corp (NASDAQ:NVDA) will be the driving force behind the next industrial revolution.
What Happened: Cramer made this declaration on Monday, following his attendance at Nvidia’s conference in San Francisco. He emphasized the company’s potential to revolutionize enterprise with its software, which can significantly enhance processes and innovation while reducing costs across various sectors, reported CNBC.
“The sum of all that Nvidia’s doing will indeed create the next industrial revolution, because Nvidia’s about the speed with which we can arrive at smarter, better answers,” said Cramer.
Although Nvidia’s business might not be as tangible as that of its tech peers, such as Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), or Amazon.com Inc (NASDAQ:AMZN), Cramer believes it is equally valuable. He highlighted the inefficiencies of current digital processes compared to what Nvidia’s technology can achieve.
"If you want to create wealth in the stock market, sometimes you need to make a leap of faith, that you're getting it right with [CEO] Jensen [Huang], because you have to, because, otherwise, you won't see it coming, whatever the heck it is," Cramer said.
Why It Matters: Nvidia has been making significant strides in the tech industry. The company recently unveiled its highly anticipated next GPU, Blackwell, at its GTC artificial intelligence event.
Nvidia CEO Jensen Huang also highlighted the past, present, and future of AI at the event, emphasizing the emergence of a new industry.
AI-related stocks, as tracked by the Roundhill Generative AI & Technology ETF, surged ahead of Nvidia’s GTC event, which was dubbed the “AI Woodstock” by Bank of America analysts.
Wedbush analyst Daniel Ives also noted that the tech industry is gearing up for Nvidia’s GTC 2024, signaling the beginning of a significant leap in the AI revolution.
Jim Cramer | Photo courtesy: Shutterstock
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