We recently published 11 Latest Stocks That Jim Cramer Just Talked About. CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks Jim Cramer recently discussed.
CoreWeave, Inc. (NASDAQ:CRWV) provides computing resources to the AI industry. Its shares, rather ironically, closed 6% higher the day after NVIDIA’s earnings as investors bet on the firm’s ability to amass NVIDIA’s AI GPUs and provide them to AI software firms. Here’s what Cramer said about CoreWeave, Inc. (NASDAQ:CRWV) after NVIDIA’s earnings:
“[On NVDA’s finished goods inventory being up] All sold. All sold. Well because you can’t, these are things you can’t just ship like this. Now you know that when you hear that they talk about CoreWeave, which is by the way up six because CoreWeave is going to be the one that has the ability to put them in. If you listen to Sridhar Ramaswamy, we’ll get to that with Snowflake, he would tell you, look, you can’t just say, you know what, send me a couple of Blackwells, you have to send the Blackwells first to, uh, in this case Azure, and then, you can worth with Azure on behalf of the customer, and it’s very hard for people to figure out, actual demand, other then the fact that Azure will take everything they can get. And that matters to me. Now Wolfe asked a very important question, which is that, listen if there are only two companies that are buying everything they can, well, when one wins then isn’t that the end? And of course in this conference call they talked about the vast multitude of companies that want these. But CoreWeave is just the quickest to [inaudible] because they’re very close to Michael Intrator, and he knows how to assemble, he’s the CEO of CoreWeave.
Photo by Javier Esteban on Unsplash
“Yes, I mean I do think that what they, when he just says, listen, CoreWeave’s got the three hundred, that figures. CoreWeave is the assembler. I mean people, if you go to a data center, David, one day I’ll take you to a data center, which is kind of going to Citi Field. . . .well some companies are ahead of others, and that’s this one.”
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Disclosure: None. This article is originally published at Insider Monkey.