"Until the AI revolution runs on something else — and despite what you hear, nobody else comes close to these chips — you should just own it, do not trade it," he said."Until the AI revolution runs on something else — and despite what you hear, nobody else comes close to these chips — you should just own it, do not trade it," he said."Just don't sell it on a moment's notice.
According to the earnings report, enterprise companies are still clamoring for Nvidia's chips. Its quarterly revenue beat estimates by about $2 billion, according to LSEG, and its data center revenue grew by 427% over the past quarter. These advanced, expensive chips are essential for developing and deploying AI applications, and the company's big-time customers include
Cramer noted that Nvidia habitually exceeds earnings expectations and added that investors shouldn't be skeptical of the company's success. According to Cramer, many on Wall Street don't understand exactly what Nvidia does. "If you're going to own this stock, you must take the time to learn," he said."If you did, you'd know that the customers said to be deserting Nvidia aren't deserting, they're desperate for its product."Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyiPhone