- CNBC's Jim Cramer shared insights from his time at Nvidia's conference in San Jose, highlighting some of the company's lesser-known partners.
- “I think non-tech partners may be the best opportunity because they are less prominent than the mega-tech companies that we hear about and talk about all the time,” Kramer said.
CNBC's Jim Cramer shares his insights from attending Nvidia's conference in San Jose, highlighting how little-known people outside of Big Tech could benefit from using new advanced artificial intelligence technology. Not focused on the company's partners.
“On the second day of our trip to the West Coast, we went from booth to booth at the most exciting trade show on the planet, where non-tech companies are using Nvidia's accelerated computing and generative AI technology. I was amazed at what I was doing,” he said. He said. “I think non-tech partners may have the best opportunity because they are less visible compared to the giant companies that we hear about and talk about all the time.”
He started by naming image companies Getty and Shutterstock, both of which have seen stagnant revenues in recent years, and saying a deal with Nvidia could spur business. Investors should reassess the value of these companies, according to Kramer. One reason is that corporate images can help train new AI models.
Nvidia has numerous partnerships across the medical sector, including a partnership with Medtronic to develop more effective endoscopy modules to better detect colorectal cancer. GE Healthcare and Johnson & Johnson are also working with his Nvidia.
While these partnerships aren't necessarily increasing profits for these companies yet, he said it's sometimes important to “work backwards” when picking stocks. Cramer also encouraged investors to look for market winners at events like NVIDIA's conference.
“Knowledge isn't always in a conference call or an analyst report. Sometimes it's here, hidden in plain sight, like a stolen letter,” he said. . “You can find out just by getting up from your desk, going to Nvidia's GPU Technology conference, and seeing who's showing off their products at this year's most important AI event.”
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