Squawk on the Street Nvidia Correction, Tesla Extends Record Run, Trump Comments Cause Pain for Health Insurers 12/17/24
Dec 17, 2024
Nvidia is facing a significant correction, down over 10% from its peak, while Tesla is soaring to new heights thanks to an upgrade. President-elect Trump's drug pricing comments are causing turbulence for major health insurers. The team dives into the implications of the Fed's upcoming decisions and assesses the overall market landscape. There's also buzz around Databricks securing major funding, and discussions on the evolving pharmaceutical and tech sectors paired with insights on self-driving technologies.
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AI Chip Market Dynamics
- Broadcom, Marvell, and NVIDIA are complementary, not competitors, in the AI chip market.
- Hyperscalers use NVIDIA for GPUs and custom silicon from others for different needs.
NVIDIA Investment Advice
- Wait for NVIDIA's GTC conference in March before buying, advises Jim Cramer.
- Assess the winners in the AI super cycle; Broadcom's outlook was impressive.
$100 Million NVIDIA Winner
- Jim Cramer encountered someone who made $100 million on NVIDIA.
- The individual only bought one bottle of mezcal at Cramer's wife's signing.