Jim Cramer Breaks Silence On DeepSeek AI Sell-Off & Discusses These 12 Stocks

9. Arista Networks, Inc. (NYSE:ANET)

Number of Hedge Fund Holders In Q3 2024: 70

Arista Networks, Inc. (NYSE:ANET) is a computer hardware and software company that primarily sells networking products. Since networking products such as Ethernet adapters are heavily used in AI data centers, it has performed well on the stock market. Arista Networks, Inc. (NYSE:ANET)’s shares closed in 2024 after gaining 92%, but the impact of DeepSeek’s AI sell-off was equally brutal. The stock lost a whopping 22% amidst investor panic about lower demand for data centers due to lower AI training costs. As the stock fell, here’s what Cramer said about Arista Networks, Inc. (NYSE:ANET):

“And then, Arista, people forget, Arista is integral to [the] inside. They were white boxing a lot of technology inside a data center, there are some people who think, no, that it’s no doubt that is a better stock than NVIDIA. I always question that and it seems a little fanciful frankly. But I know people who hold that view.”