CNBC host Jim Cramer recently highlighted several lesser-known partners of NVIDIA Corp (NASDAQ:NVDA) that could potentially benefit from the company’s advanced artificial intelligence (AI) technology.
While reporting from Nvidia’s conference in San Jose, California, Cramer identified several non-tech companies that could see significant gains from their association with Nvidia, emphasizing that these non-tech partners could present the “best opportunities.”
Cramer mentioned companies like Getty Images Holdings Inc (NYSE:GETY) and Shutterstock Inc (NYSE:SSTK), noting that despite experiencing stagnant revenues, they could see a turnaround due to their collaboration with Nvidia in training new AI models using their images.
In addition to these partnerships, Cramer highlighted Nvidia’s collaborations in the healthcare sector, including partnerships with Medtronic, GE HealthCare Technologies Inc (NASDAQ:GEHC), and Johnson & Johnson (NYSE:JNJ). Although these partnerships have not yet translated into increased earnings for the companies, Cramer suggested they could be significant market winners in the future.
Cramer emphasized the importance of seeking knowledge beyond conference calls and analyst reports, encouraging investors to attend events like Nvidia’s GPU technology conference to discover hidden opportunities.
Earlier in the week, Nvidia CEO Jensen Huang emphasized that Nvidia is not just a chipmaker but an accelerated computing company focusing on offloading workloads and running them “insanely fast.”
Despite a drop in Nvidia’s stock following Huang’s keynote presentation, Cramer predicted that Nvidia’s efforts would create the next industrial revolution.
While the stock’s performance has been mixed, with a dip following Huang’s GTC 2024 keynote presentation, analysts have praised the AI chipmaker’s GTC unveilings as “nothing short of amazing.”