Jim Cramer’s Bold Predictions About These 15 AI Stocks

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3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders In Q3 2024: 193

Date of Cramer’s Comments: 08-12-24

Performance Since Then: 25.75%

NVIDIA Corporation (NASDAQ:NVDA) is the world’s leading AI GPU designer whose shares have gained more than 700% since OpenAI publicly unveiled ChatGPT. The firm commands the lion’s share of the AI GPU market as it enjoys a large competitive advantage through the performance of its chips. Yet, since AI is a relatively nascent industry and NVIDIA Corporation (NASDAQ:NVDA) doesn’t enjoy a similar presence in other markets, its shares are dependent on AI’s fate. The stock has struggled since July as investors wait to see NVIDIA Corporation (NASDAQ:NVDA)’s Blackwell products, supply chain strengths, and cost control. Here’s what Cramer said in August:

“Nvidia’s Jensen Huang has been telling you can get 4x your money if you buy his chips. That’s 4x return. I think Meta could end up getting that. The others, they actually have to spend to play catchup. It’s not mythical, it’s reality. How much money have you made over the years betting against Jensen Huang?”

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