Jim Cramer says Jensen Huang’s Computex keynote revealed more winners in the AI boom

During a highly anticipated keynote at Computex, Nvidia CEO Jensen Huang delivered a message that resonated powerfully with investors, asserting that computing power serves as a vital profit driver in the era of artificial intelligence. CNBC's Jim Cramer highlighted this perspective on Monday, noting that Huang's insights seemed to uplift key AI-related stocks, which surged despite an increase in oil prices and challenges in U.S.-Iran diplomatic relations. Nvidia's stock, in particular, saw a notable rise, climbing 6% on the same day. The S&P 500 also closed higher, reaching another record peak. "It was incredibly heartening at a time when we're getting very suspicious of the data center as a concept, let alone a profit center," Cramer remarked. He expressed concerns that skepticism about the viability of AI investments was gaining traction, especially among those who question whether substantial funding for AI infrastructure will yield satisfactory returns. In his keynote address, Huang emphasized Nvidia's full-scale entry into the personal computer market while repeatedly asserting that "compute is revenue." This statement aimed to bolster the argument that investment in AI technology is justified. Cramer noted that Huang's assertion could shift market perceptions, referencing specific data center operators and Nvidia chip clients such as Oracle, Nebius, and CoreWeave, whose stocks surged by 9.9%, 14.5%, and 14%, respectively, on Monday. Oracle, often scrutinized for its significant investments in AI infrastructure over the past year, and CoreWeave, which has faced its own financial challenges, were highlighted as companies benefiting from Huang's optimistic outlook. Cramer also advocated for investors to consider Nvidia alongside major players like Amazon and Alphabet, despite those companies developing competitive custom chips. He emphasized the enormous potential of the AI market. Ultimately, Cramer concluded that Huang effectively countered the narrative suggesting that spending on AI infrastructure might be excessive. "This time, Nvidia truly delivered, just when you least expected it," he stated, reflecting the renewed optimism surrounding AI investments.