Anthropic · Microsoft · OpenAI · Amazon · Meta · CNBC Technology
Jim Cramer confirms Big Tech cannot afford to be cheap on AI spending
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Cloud computing giants cannot afford to pinch pennies on the artificial intelligence buildout, CNBC's Jim Cramer argued Wednesday.
Key facts
- Cloud computing giants cannot afford to pinch pennies on the artificial intelligence buildout, CNBC's Jim Cramer argued Wednesday
- He pointed to Amazon and its cloud business, Amazon Web Services, as evidence that the AI buildout is no longer speculative
- If you don't build the stadium, they are going elsewhere and you will leave a lot of money on the table," Cramer said, referencing comments from Amazon CEO Andy Jassy about the need to continue
- According to Cramer, major customers including OpenAI, Anthropic and Meta are already searching for computing power and infrastructure partners capable of handling massive AI workloads
Summary
Cramer's comments came after he heard someone describe the rally in data center and AI-related stocks as an "if you build it, they will come" dynamic, the idea that companies are spending aggressively on infrastructure in hopes customers eventually materialize. "The whole point of this data center rally is that it's not a fairy tale, because the data centers are being built and the customers are coming" the " Mad Money " host said. He pointed to Amazon and its cloud business, Amazon Web Services, as evidence that the AI buildout is no longer speculative. "If you don't build the stadium, they are going elsewhere and you will leave a lot of money on the table," Cramer said, referencing comments from Amazon CEO Andy Jassy about the need to continue investing aggressively.