Jim Cramer is Talking About These 12 Stocks

6. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 179

Cramer mentioned that NVIDIA Corporation (NASDAQ:NVDA) stock did not see the same gains as some of its Mag 7 peers on Tuesday and went on to talk about Huang’s “sovereign AI” idea.

“NVIDIA didn’t get much love either, but CEO Jensen Huang is headed to India for a fireside chat at an AI conference. Hey, maybe he’ll announce a giant sovereign state contract, something he’s been hinting at. I would own, not trade… Nvidia.”

NVIDIA (NASDAQ:NVDA) has established a commanding presence in the graphics processing unit (GPU) market, significantly driven by its A100 and H100 chipsets. These products have been key contributors to the company’s remarkable revenue and profit growth in recent years. With the introduction of the new Blackwell series GPUs, the company is positioned to strengthen its product lineup even further. CEO Jensen Huang has expressed enthusiasm regarding the overwhelming demand for Blackwell, highlighting the eagerness among many to engage with this innovative technology.

Sovereign AI refers to a nation’s ability to develop artificial intelligence utilizing its own infrastructure, data, workforce, and business networks. It highlights a country’s control over its data and the AI it generates.

During a speech at the World Government Summit in Dubai in June, Huang emphasized the necessity for countries to develop their own artificial intelligence infrastructure to fully harness economic potential while preserving cultural identity. He remarked that NVIDIA (NASDAQ:NVDA) is working to democratize access to AI, enabling rapid advancements in AI computing. Huang stated, “The rest of it is really up to you to take initiative, activate your industry, build the infrastructure, as fast as you can.”

In October, Huang joined the King of Denmark to unveil the nation’s largest sovereign AI supercomputer, aimed at facilitating advancements in areas such as quantum computing, clean energy, and biotechnology. Named Gefion, after a figure from Danish mythology, this supercomputer is powered by 1,528 NVIDIA H100 Tensor Core GPUs and employs NVIDIA Quantum-2 InfiniBand networking for connectivity.

At a recent NVIDIA AI Summit, Huang also commended India’s progress in artificial intelligence. He noted that over 2,000 AI companies in India are currently part of NVIDIA’s incubation program, alongside more than 100,000 developers trained in AI.