Artificial Intelligence (AI) companies are at the forefront of technological advancements, and according to Jim Cramer from CNBC, the frenzy surrounding generative AI is just beginning, with high expectations for the future of AI stocks. Jim Cramer believes that any […]
Artificial Intelligence (AI) companies are at the forefront of technological advancements, and according to Jim Cramer from CNBC, the frenzy surrounding generative AI is just beginning, with high expectations for the future of AI stocks.
Jim Cramer believes that any dip in the value of AI-related stocks will only encourage investors to get involved in the market. Despite significant gains made this week, AI stocks still have plenty of room for growth, as stated by CNBC’s Jim Cramer on Friday. Amazon CEO, Andy Jassy, informed Cramer that generative AI would bring in tens of billions of dollars for their company in the future, as businesses make the shift from local servers to the cloud. According to Cramer, this suggests that any decline in the value of AI stocks will only lead to more buying activity.
“It’s possible that AI stocks have plenty of room for growth, even though they have performed well this week,” said Cramer. “If that’s the case, then every dip will be greeted with buying, not selling, because the excitement and admiration are just beginning – and what tremendous trend ever ends when it’s only one year old?”
Generative AI, according to Cramer, is anything but a cheap trick, and it will transform the way people approach their work and challenges. It will revolutionize business processes and offer new possibilities for innovation and development.
Microsoft stands out as a leader in the field of AI, partly because they own half of OpenAI, the company behind ChatGPT, a technology that has popularized generative AI. Unlike some others, Microsoft has measurable profits from their AI-based Co-pilot project, added Cramer.
In addition to Amazon and Microsoft, Cramer also highlighted Nvidia as a major player in AI. He mentioned that Nvidia’s CEO, Jensen Huang, was prepared for the AI frenzy long before ChatGPT went viral. Huang demonstrated the power of generative AI to Cramer by using the new technology to create an image of a seaside in the style of post-impressionist painter Paul Cézanne, according to Cramer’s request.
“Skeptics claim that the AI frenzy has already peaked,” said Cramer. “Based on my conversations with people in Seattle, I can tell you that this frenzy is just getting started.”