On Tuesday, Jim Cramer reflected on his early conviction in Nvidia Corp. (NASDAQ:NVDA), calling CEO Jensen Huang one of the most visionary leaders in tech history as the chipmaker's meteoric rise continues.
Jim Cramer Says Jensen Huang Saw The Future Before Everyone Else
Appearing on CNBC's Closing Bell Overtime, Cramer revisited his first recommendation of Nvidia back in 2009 — when shares were trading for just a fraction of today's price.
He said Huang, whom he first interviewed in 2010, had a 20-year view of the world that investors initially failed to understand.
"I thought that Nvidia was a gaming chip company," Cramer said. Later, he realized it was powering some of the most advanced systems in the world — cars, robotics, AI.
He recalled visiting Nvidia's headquarters years ago, where Huang demonstrated early robotic experiments.
"He’s a Socratic teacher. And you started realizing, maybe I’m just in the presence of someone very different who’s got a view 20 years ahead," Cramer recalled.
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Since Cramer's 2009 call, Nvidia has surged tremendously. Just in the past five years, Nvidia's stock price has risen by 1,244.77%, according to Benzinga Pro.
The company's market cap has ballooned to more than $4 trillion, making it the world's most valuable firm.
At a meeting of his CNBC Investing Club earlier in the day, Cramer said Huang personally thanked investors who held onto Nvidia for the long haul. "He’s a gracious, terrific person and he just wanted to thank people for owning it, not trading it."
Cramer Warns Against Hot Stock Mentality Amid AI Boom
Despite Nvidia's rise, Cramer cautioned investors against chasing the stock blindly during what some call an AI bubble.
He urged investors to focus on conviction rather than hype, saying if investors believe in what Huang's building — a $4 trillion company that no one thought could be worth $1 trillion — then they'll sleep well at night.
Earlier in the day, during a conversation with Cramer, Huang said that longtime competitor Intel Corp. (NASDAQ:INTC) spent over 30 years “trying to kill” his company — yet the two chip giants have now joined forces in a $5 billion partnership.
During the conversation, he also spoke about the current semiconductor and artificial intelligence landscape, OpenAI and more.
In August, Nvidia posted second-quarter revenue of $46.74 billion, marking a 56% increase year-over-year and surpassing Wall Street's consensus estimate of $46.02 billion.
Nvidia shares have risen 33.77% year-to-date. Benzinga's Edge Stock Rankings place its Growth in the 97th percentile and Quality in the 93rd, highlighting the company's strong standing versus competitors like AMD.
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