Jim Cramer’s Bold Predictions About These 15 AI Stocks

2. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders In Q3 2024: 235

Date of Cramer’s Comments: 08-12-24

Performance Since Then: 16.25%

Meta Platforms, Inc. (NASDAQ:META) is one of the biggest social media companies in the world. The firm has managed to position itself as one of the most important AI stocks in the industry after suffering devastating market performance in 2022 because of Mark Zuckerberg’s focus on the metaverse. Now, Meta Platforms, Inc. (NASDAQ:META) has shaped up as an important AI player because of its 3 billion+ user base which investors believe can be used to monetize AI and push services to consumers. The firm is already allowing advertisers to use AI tools to run campaigns, and its narrative depends on sustained AI monetization. Another major catalyst for Meta Platforms, Inc. (NASDAQ:META)’s stock in H2 2024 has been a potential TikTok ban that could further grow its user base. Cramer was full of praise for the firm’s AI division in August:

“We’re constantly being told that none of the big companies spending fortune in video chips for AI has seen any meaningful return on that investment. They’re only doing it to prevent their competitors from getting an edge. That’s what we keep on hearing. That’s absurd! Memo to the clueless naysaying individuals: Have you seen what Meta Platforms has been doing with their computing power? They have, out of nowhere, become one of the most popular generative AI platforms with Meta AI. You have to try. I have switched to it. It is that good. Meta has been using their Nvidia purchases to make instagram reels much more relevant to you, much faster, cleaner. Meta has the best numbers of any of the tech titans. You think that’s some sort of coincidence?”