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Jim Cramer names some non-tech Nvidia partners to watch

PUBLISHED TUE, MAR 19 20246:58 PM EDTUPDATED TUE, MAR 19 20247:12 PM EDT

Julie Coleman@ITSJULIECOLEMAN

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KEY POINTS

  • 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 the non-tech partners could represent the best opportunities because they fly under the radar compared to the megacap techs that we’re always hearing about and talking about,” Cramer said.

In this article

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VIDEO02:08

Nvidia’s non-tech partnerships provide ‘under the radar’ investing opportunities, says Jim Cramer

CNBC’s Jim Cramer shared insights from his time at Nvidia’s conference in San Jose, California, highlighting the company’s lesser-known partners outside of Big Tech that may stand to see gains by using new advanced artificial intelligence technology.

“On Day 2 of our trip to the West Coast, we went from booth to booth at the most exciting trade show on earth, and I marveled at what the non-tech companies are doing with Nvidia’s accelerated computing and generative AI technology,” he said. “I think the non-tech partners could represent the best opportunities because they fly under the radar compared to the megacap techs that we’re always hearing about and talking about.”

He first named image companies Getty and Shutterstock, saying they have had stagnant revenues over the last few years but that their dealings with Nvidia could spur business. To Cramer, investors should reassess the value of these companies in part because their images can help train new AI models.

Nvidia has numerous partnerships across the health-care sector, including with Medtronic to create a more effective endoscopy module to better detect colorectal cancer. GE Healthcare and Johnson & Johnson are also working with Nvidia.

While these partnerships haven’t necessarily increased these companies’ earnings just yet, he said sometimes it’s important to “work backwards” when picking stocks. Cramer also encouraged investors to search for market winners at events like Nvidia’s conference.

“The knowledge isn’t always in the conference call or the analyst reports — sometimes it’s right here, like the purloined letter, hidden in glorious plain sight,” he said. “You just have to get off the desk and find it by going to the GPU technology conference of Nvidia and seeing who’s showing off their wares at the most important AI event of the year.”

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VIDEO09:32

Jim Cramer talks Nvidia’s partnerships and how they can offer up new investing ideas

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Nvidia and GE Healthcare.

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https://www.cnbc.com/2024/03/19/jim-cramer-names-some-of-the-non-tech-nvidia-partners-to-watch.html