CNBC's Jim Cramer: Big Tech Hot Takes, NVIDIA $10 Trillion?, Building Wealth In Any Market

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1:06Advanced, intuitive, and deployed. That's how they stack. That's technology at Capital One. CNBC All-Star Jim Kramer joins us to share big tech hot takes, how far NVIDIA can go, and how to build wealth in any market. And Jim is here with us in studio today. Jim, great to see you. Welcome to the show. Thank you, Alex. You're one of the very few people who is not intimidated by power, and really understands that in the end, these are people. I love your populist approach. You're not just all caught up in who's the best and the brightest because it's very much like Halberstam and the Vietnam War when it comes to these things.

1:44You have to stand up and say, you know what? Some of these people have no clothes. That's right. And you've got to do that. All right, James. So I want to run through a number of different stocks and give you a hot take and then have you respond to them. I think it's good. All right, let's start with Apple. This is my hot take on Apple. I have one too. Either they outsmarted everyone by sitting out AI or they outsmarted themselves. OK, so you're reading my stuff. You know, I think that they outsmarted everyone. But sometimes the last line in Confessions of a Street Act, my first book, is it's better to be lucky than good.

2:14And I think that they had a series of setbacks. And these high profile, no salary cap, stealing of people might have mattered. But in the end, if you do not have business-to-business and Santhropic and you're trying to figure out your perplexity or whatever, at one point you thought Apple would pay you. Instead, now you pay them. This happened to me with AOL. When AOL knew that they had the consumer and they were out of the scrum, they had been my best source of capital for the street. And then they turned around and said, now you're going to pay us because you need our audience. And I was furious and I kicked them out of my office.

2:53And then I paid him$2 million when$2 million was real money. And I think that's what's happening with Apple. They got lucky. And now Tim's not going to do this because he's a very self-effacing guy. And I really like him. But I think that in the end, if you're a loser, you got to write a big check to them. Otherwise, Gemini is going to lock them up. And Gemini is so great. It takes a little time. It's a little, puts a little more thought into it. And isn't cheeky. ChatGPT, you don't know me. You don't know me from Adam. I'm sick and tired of you trying, pretending you know me like you're like my long lost brother.

3:26Get out of my face. So you're not going to do the erotic chat GPT mode. No, I have a good wife. I don't need that crap. With Apple, the risk is that there is a device that comes out and either just places the phone or cuts off its growth. Well, you know, Zuckerberg is so funny. He thinks that the glasses, and I really like Mark. I think Mark's terrific. And I like the glasses. And when I was fishing, when you fish and you're catching a tarpon and you're using the glasses and you take pictures of it, you got the edge on me, man. You got the edge. I'm using the iPhone. But I still think that it's a long way off as opposed to – I was with Rene Haas this weekend.

4:05I went to a football game. He had the phone. It was like – it was Samsung. And it was much cooler than Apple. Big deal. Okay. So this leads right into Meta. Oh my God, but I like meta. All right, but these hot takes are not necessarily all negative. Okay. But this is, they're a question. So here's a question about meta. After Mark? No, this is just, this is my question. Okay. But it is about Mark. So after - I like Mark, be careful. I'm not going to disparage him. Okay. But I'm going to ask you about him. Jersey. No, he's from where you're from. New York? Yeah. Okay. So this is about Mark. Okay.

4:43So after the Metaverse and Llama, their sort of underwhelming generative AI initiative. I got the Ray-Bans when they were, you know, walking into a dark, walking into a hat. I walked into a room, a museum, and I was wearing them. I thought that the guard was going to take them away, but I think you just felt that I'd be on the side or something. I jumped out of a plane with them. I've done skydiving. You jumped out of a plane? Recorded as I went down. Amazing. What? Didn't you? Aren't you worried? No. It's pretty safe. I mean, not my recommendation to go do it, but it was the coolest thing I've ever done.

5:13Whoa. Okay, so here's what I think with Meta. Well, and this is the question. All right. Does Mark Zuckerberg have another breakout hit? And maybe it's the glasses. I hate to go against him, and I love the glasses. I think the glasses are a really, really good rival to the iPhone. But the people are used to one thing in their hands, and they're not appalled. They're not bummed out by it. When I was using the glasses, when I was fishing, I was like, wow. These are so cool. I can reel in. And I have to hold my phone. I was bringing in these big tarpon. And I sent it to Mark. I said, this is really cool.

5:50This is a really good use. And that's because it's a good use case. And I really believe that we need like 1 ,000. No, we need like 10 ,000 more good use cases. In the meantime, I think that Apple is just getting better. I think they could do a foldable, the liquid glass. But I have to tell you that in the end, Mark is going to have, along with YouTube, 50 % if not 70 % of the advertising market. And that's a very big market. And the rate of return, you know, my daughter's got a potato chip company, Folds. First new potato chip in 30 years. And I keep telling her, listen, there's, you know, you got to put your money with Reddit and you got to put your money with Mark.

6:28And that with Mark, you just have to say, look, here's a check. And she says, well, I'm not big enough to send that check yet. She isn't. But you can take, you get rid of everybody and give them all the madmen out give them a check they'll develop a much better than you could ever come up with ad and you're gonna make a lot of money and by the way you take spotify and you take um take spotify take shopify take uh what i mean like your ads like i know like octa like an octave it's like you have an ad for octa it's like i'm listening to you i'm listening to the ad it's like wow mckinnon got to him man this is a great ad um i think the advertising market.

7:06By the way, Reddit is incredible. I told them, I told off, you got to raise your rates. Rates are way too cheap. When he figures out that his stuff is like being scraped by everybody, I love the ad market because it's something I understand. And I do think that if you send Zuckerberg a check, you could be the category winner out of nowhere. Spotify, because it's got that high end audience. Remember, I'm not a tech guy. OK, I'm looking at you and I'm telling you I'm not a tech guy. And I know when tech's out a favor. I'm sticking with NVIDIA because I have I'm great believe that GTC and Vera Rubin is going to be amazing.

7:37It's going to reason. I love Hocktan. I think that Apple is going to get a check beneficiary from someone of perplexity. I don't know. I'd like business to business, but let's take our time with Anthropic. I don't understand OpenAI other than the fact that they want to speak to the New Yorker and New York Times. Good. I don't want them. And I do think that in the end, Disney should have taken a nice big check from them. And that was one of the defining trades of this period, along with AMD peaking out October 29th, which was the top. So, Zuckerberg birthplace, White Plains grew up in Dobbs Ferry.

8:13I thought he grew up. Right, right. Dobbs Ferry. New York. You're right. New York, not New Jersey. I'm sorry, Mark Zuckerberg. As a New Yorker, that was a big mistake. No, but he's not like a sports fan. Like Jassy's a giant fan. Right. Okay, so the meta thing. How about how bad Amazon stock acts? Oh, God, it's killing me. It's funny. You are getting so. I said Apple. It's killing me. I love Amazon. And now you're on Amazon. So I'm going to ask you about Amazon. It's killing me. Here's my hot take on Amazon. I want it. Missing the Bezos spark. Okay. It's a pain to me to write that. I love Brian CFO.

8:43You know, I love Andy. I do think that the guy who runs stores is real good. I think the guy, Matt, who runs AWS is real good. I do think that they are up against a post-COVID, still haven't figured out this structure of costs. I refuse to believe that I don't want to believe what you say. It's a hot take, but. No, no. Listen to what I said. I don't want to believe. I don't because it's a huge position. It's my large position for my trust because I love them. My basis is really, really low. My book was called Always Day One. No kidding. I'm referencing your book. Your book is really good. And what you're saying basically is that it would be amazing if Jassy wasn't running.

9:24He runs hard. He really runs hard. But is he running in place? I don't know, but he's running hard. I am one of those people who really looks at something and say, I love the stock because I love the product. If the balance sheet checks out, that's kind of my thesis of my book. And I love the product Amazon. I think they're going to figure it out. But they are stalled right now. And people don't like the stock at all. I think they don't like the stock at all. You know why? For the same reason that people don't like Apple. Because Jobs and Bezos, and I'm not buying that at all. I think that Amazon just needs web services to go to 23 % growth, and we need to see the real growth of Azure, which I think is overstated, not illegal.

10:08The kind of thing that you have this weird confluence of Azure and whatever the hell they're doing with the Sarah Fryer there. So I think that you've got Amazon is a real quandary because, jeez, how did Alphabet do this? How did they do it? How were they able to sanction Monopoly? Isn't that amazing? Was it Ruth Porat? Hey, how about Ashkenazi? It's the CFO from Lily. She's a winner twice. She's fantastic. Jim, you're amazing because every one that I bring out, you set me up perfectly for the next one. Well, that's because I know your show, and it's fun. You're good. You're good, obviously. So let me just do one follow-up on Amazon.

10:52Did you do the new Alexa? Alexa plus I think it's great do you give her your schedule it has my schedule I use it completely it has real personality my wife and I we have it in the bedroom in the kitchen and in the living room and she's like I don't know what this does I was like let's see Alexa let's have an insult competition I don't know if I could do that but then it goes ahead and we start going back and forth it's actually really fun I gotta use it more because I use it every day every day and I come home I like Give me the ride of the Valkyries. Give me the Balfour Brothers. Okay, I want to hear Beethoven's 1 through 9.

11:28It's got that brain. It's got that brain. But here's why I'm worried about Amazon. We have some reporting coming out that they have this AI tool inside the company called Cedric. And it's like their version of GPT. Rufus or Cedric? I think Cedric – here's the problem. Cedric is smart. But you know how Amazon has this product development process where they write everything out in six pages. I thought it was one. And they start the meeting. Everybody reads. And then they go ahead and talk. Now the AI, one of the best practices is have the AI, uh, uh, right. To help you write the document. The whole point is the pain of it was supposed to be, oh my God, that is, that's very disappointing.

12:08It was always to be laser focused on your own mind. That's disappointing. I didn't know that. Yeah. And they would just use, I mean, which one are you using these days? ChatGPT. You're still in chatGPT. I think it's great. Uh, I try, I try them all. Knock yourself out. And we'll talk more about opening eye. Look, I don't like that stupid thing trying to be me and know me. Oh, Jim, maybe you want to use these 10 things for mad money. Oh, go to hell. Right. So for me, what I like, I like the memory. I have the opposite opinion of you. No, but the memory is false. It's a bogus memory. Come on, let's go to novels.

12:45I don't need it to be my friend. But if I'm planning a trip and I just type a new query in, it says, oh, I remember that you're going to, let's say, Ecuador, here's some things that you should think about. Does it say go to Galapagos while you're there? This is, I'm going to be out. Yeah, I can be there too. Yeah, the Galapagos will be. Okay, I understand that. I just think that like, let's say you're talking, because Ecuador is very high up, you're talking about altitude. So it will be like, okay, like actually you should be fine to be in this place. What's it saying? And fine to be in this place.

13:13What does it tell you to do? It's like Denver? Well, it's three times keto. You're going to ride like the football field when you need the oxygen. Keto's three times as high as Denver. All right, well, Keto's good for them. Okay. All right, so that's Amazon. I was right there. We'll get back to OpenAI, but let's talk about Google. All right, here's my Google hot take. I love Google. You're going to like this one. I got out too soon. I love them. I love them. I love them. I love them. Here's the hot take. Until someone builds another search ads business, it doesn't matter what ChatGPT does. Also, Waymo is a beast.

13:44See, what am I going to do when I agree 100 % with you? See, not only is there no controversy, but I genuinely love Waymo. I love the YouTube TV where you can get the NFL. The search is just beautiful. The way it makes it so it doesn't link back to the way I managed to make the street was all like you link back to me. And I burned you and I got my stuff. It is magnificent. Google is magnificent. And I just cannot believe how good it is. It's just fabulous. One of the nice things. Do you think Ruth does a lot there still? I don't know. Yeah, me neither. I see Ruth fingerprints. She's really smart.

14:27Definitely. And also humble. Yeah. I mean, it makes a big difference. That's one of the things. So the things that I've seen in terms of what makes a big tech leader successful, it's honestly being humble and being open to feedback. Schindler. You know it. Schindler asked me what I thought about the NFL thing. He did. He said, what do you think? I said, well, I would move this. I would move that. I would move this. Done. Done. Done. I mean, come on. Talk about no humility. Like, go to some Yahoo. He asks what. Not Yahoo. I ask what I think of it. And I'm like, give it to him. He goes, that's great.

15:01It's done. And then I see it. Think about what that is. That's someone who's willing to take feedback, doesn't feel like if it wasn't invented there, it doesn't matter. Right. And delivers really, really quickly. And I just think that's why I say bravo. I had thought and I dealt with the government, the Justice Department. I had felt that they had a powerful case. And when that judge reversed and said, hey, listen, we need them to give Apple money because we got to stop them as monopolists. I mean, that was the most fatuous reason. I wouldn't send that guy right back to first year. You said some nice things about Zuckerberg before.

15:38I'll say a nice thing about him. I like him. talking about feedback one of the things i've met with him a couple times okay he doesn't want to lecture you he actually wants to hear what you think he asked questions and and that's why they've been able social media is the hardest category to succeed in and that's why they've been able to do oh my god and when he had that in the conference call when he said listen i want to do your advertising just send me a check it wasn't hubris it was more comic it was like listen i can beat everybody and he can and i love the last night you know i come back from the eagles game and my wife is in her deep dive.

16:11And her deep dive is the feed. Still, I mean, oh, there are too many ads. There are too many ads. It doesn't stop you from the feed. She, like everyone I know, looks at the feed before they go to bed. Me, I'm reading this book right now. It's about Blankfein, it's autobiography, and I'm reading a book about John O 'Hara. She's reading the feed. She upended the whole paradigm of what she did before the bed, which was like, read good books. Incredible. Here's Microsoft. So boring. this is my let's spice it up hey how was the copilot when you were jumping out of the plane i didn't i used the meta the meta exactly right there you go it did not hear anything because i was just going wow but you see it because i you know i i turned back to my wife and i'm like is this right yeah she went second i'm like is this thing on she said yeah and then you have like life insurance out the plane no that's you gotta change that well well look i think that microsoft Microsoft's problem is that they think that they're winning.

17:10Here's my hot take, and then you can respond to it. My hot take is Azure is a freight train that only OpenAI can derail. Yeah, but they won't. I like that. It's a freight train. What do you think? It's like the fugitive? There is no train coming at the freight train. I think that Microsoft is the freight train. I have tremendous respect for them. I wish that they could get out of my PC because they're everywhere. but the fact is I can't get rid of them. I have a really good high IT guy that I pay a fortune to just to strip everything that I don't want of Microsoft and my PC and he can't. They're just so good at embedding.

17:49I mean, I'm just glad they're not embedding in my brain. They probably are. But yeah, I like your analysis and OpenAI can't stop. OpenAI is defined as vertical. They hate it when you say they have to find the vertical because they don't believe in verticals. But I believe in verticals because I've been around. Sometimes the benefit of age is better than the benefit of wisdom. What vertical do you think they'd be best in, open AI? Against Mark, but you can't because he's too great. Against Zuckerberg. Yeah. Social media. He's too great. Yeah. He's just too great. And he's, I mean, look, do they innovate?

18:25Yes. Have they figured out if they monetize WhatsApp? app that would be like a that would be like musk monetized musk monetizes but it doesn't go to you know because it's a separate bucket i love musk okay i thought well you brought me right i don't know my personal it's like you have the agenda because you brought me right to tesla why not this is what see look this is good this is an intellectual vacation for me because i'll spend far more time trying to figure out the industrial gas market than i can this this is the vacation okay i i i i'm gonna go back and try to figure out why walmart passed costco and that's not like what your your world big personalities big money really exciting my world pedestrian prosaic just about making money and i know that i'm a dollar sign represented by a man and i i don't i don't mind that i was talking to my wife this weekend about the idea of being a guy up my book's a populist book okay it's how to make money and i'm a populist how to and yet when i started i never wanted to be in the how to car that the how to vertical is the lowest of the low when it comes to being literary but i wanted to this be my last book and get people to if they're if they're owning stocks please understand why the magnificence have a word magnificent that kind of thing and but in my heart i'm a populist and but not a political populist because that would make me sometimes a populist becomes a fascist and i'm not a fascist there you go that's my hot take okay i'm not a fascist that's a good hot take i would well yeah we don't even have to put hot the hot label on it go ahead all right let's do well let's do i want to do musk nvidia oracle core weave and go back to open ai did he get back to me yeah so so let's do that while jim checks his phone right after this no no no i'm gonna go to a break i'm gonna We're going to go to a break and then we're going to come back.

20:16All right, we're back right after this. And we're back here on Big Technology Podcast with Jim Cramer, host of Mad Money and the author of this great book, How to Make Money in Any Market. Definitely recommend picking it up. We're going to just continue with our hot takes. No, I mean, it's great. And I mean it when I say that. I listen to your show and I say, I wish I had your facility for the stuff, but because I have you, I don't need it. I appreciate that. And it's great having you here. So let's talk about Tesla. My hot take on Tesla is self-driving is going to have to work, and it might. Absolutely.

20:48And I remember when the Waymo people first introduced it to me, and they were talking about how you would never have invented a car where a human does it. But it happened to be a car before the horse. They did. They thought humans should do it. But humans are terrible because they're drunk and they're tired. And humans can't – one time Jensen told me that humans can't handle black ice as well as autonomous. I was in black ice yesterday. I think he's absolutely right. 40 ,000 traffic deaths a year in the US alone. See, now think about that. I bet you that could be cut by two thirds. I agree. You've ridden in the Waymo?

21:21Tesla self-driving. I love the Waymo. Unbelievable, right? Well, I also like the Jag. But yeah, look, I don't want to see humans when I'm next to me. I want to see nothing because I trust nothing because I know that person's not drunk. Like, you know, when you see a car weave and you're out at like 1130 at night, all you can do is think, what do I do now? I get very – I get petrified when I see a car weave. That Wayne Moe ain't ever weaving and I really like that. I think that it's very important that it works. And by the way, when I think about Musk, what I think about it is the battery division.

21:54I think that battery division is going to solve a lot of what we have in terms of like one of the things – why did – the obsession with clean power, I love it. But clean power is really, really expensive. I prefer battery power. And if Musk does what I think, which is be able to capture all that heat and keep it overnight and make it so that it's ready for the morning, wow. I think the battery is great. I think the robot looks really, really good. What is that Norwegian alphabet now that has the cool robot? Not the Chinese. Yes, the Neo. I know what Chinese were. Are we really that stupid and they're that brilliant?

22:32It bothers me. The Chinese? Yeah. Well, what do you think the answer is on that front? We have an inferiority complex, not unlike the way we were in 1960 with the Russians, where we really felt that we were second-raiders. The Russians knew more. They had gotten the best Nazis. I'm sorry to say that. But they got the best scientists. And they were a fascist country, and therefore they could control everything. And they had all the great nuclear scientists. And they were going to put someone on the moon ahead of us. And they had the H-bomb. And they had second because of the Rosenbergs. And they could kill us all.

23:05And that was the narrative when I was growing up. And I remember when the sky was black from all the B-52 planes they were moving to be able to stop the Russians in Cuba. And it seems like that's Taiwan. We're overly – we're very, very insecure about the Chinese. And yet I'm not insecure other than the fact I really like – I don't want our universities destroyed because they're pretty good. But I do not share people's belief that they're so much smarter than us. And they are totalitarian government. And in the end, totalitarian governments do not make it. History says that. Right. But in the meantime, it could cause some disruption.

23:43And that comes up in the Tesla conversation. Anytime you leave the U.S., you see BYD cars. Build your dreams. How about the one that's like Lincoln that my wife – it was like Lincoln. She got it in Italy after having a Mercedes. It was much better than Mercedes. I get that. But Europe's suicidal. They should ban it. They should just say, listen, we're going to put a double tariff on it. But they're just – the Europeans are so unaware of what can happen that they could wipe out Mercedes and Beamer. They could. And I don't know why they're just willing to accept that beatdown. Look at Mexico. She's not.

24:20Claudia. I mean I shouldn't call it. President Scheinman was a remarkable person. Right. Great president. All right. Let's do NVIDIA. I was going to say my hot take for NVIDIA is we're going to need an ROI on AI eventually. I think that will be my hot take actually. Jensen would tell you that Alphabet is a demonstration of the great ROI. Of course, they have their own chips too. A reason I believe in Jensen still is because when he has a new chip, the new chip I think will be able to show you how you could pitch a perfect game every single time. It will show you how – I remember I said, look, I own a bar.

25:00Now, I've sold the bar because we have a mezcal business. And I told Jensen that I wanted to see a bartender that's not human because humans steal. It's cash. It's too much cash. Steal. I was stolen from every single day for 10 years, OK? But a machine wouldn't. I'm betting on a Waymo-like bartender, meaning that we like it much more than an Uber. and he said it's going to happen within the next two, three years. If we can, and that's, I'm using that as a metaphor. Okay. If we could get a bartender who can pour five drinks at once and doesn't steal, that is something that will give you an ROI to beat the band.