Cramer Flags Oracle Rally As ‘Strange,’ Says Nvidia And AMD Aren’t Getting Any Love

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Oracle Corp. (NYSE:ORCL) may be one of Wall Street’s hottest AI bets, but CNBC’s Jim Cramer says something isn’t adding up. Despite Oracle’s stock strength, chipmakers that would logically benefit from the company’s data center growth, like Nvidia Corp. (NASDAQ:NVDA) and Advanced Micro Devices Inc. (NASDAQ:AMD), are barely moving.

“It’s almost as if nobody believes anyone benefits besides Oracle,” Cramer wrote on X, calling the divergence “all very strange,” he posted on X.

Oracle has emerged as a surprise winner in the AI race, with investors betting on its cloud infrastructure to challenge leaders like Amazon.com Inc‘s (NASDAQ:AMZN) Amazon Web Services and Microsoft Corp‘s (NASDAQ:MSFT) Azure.

Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share.

ORCL stock is up over 100% YTD, and was trading higher by over 40% at the time of publication on Wednesday, despite the company reporting a miss as it reported second quarter earnings on Tuesday. The company’s recent surge reflects optimism about partnerships and AI-driven workloads that could expand its market share.

Typically, such optimism would also fuel gains for semiconductor giants, as AI adoption drives demand for GPUs and chips to power data centers.

Yet Nvidia, the market’s AI bellwether, and AMD, a rising competitor, are showing little movement alongside Oracle’s momentum. This divergence may reflect skepticism that Oracle’s growth translates into meaningful chip orders, especially given supply constraints and existing backlogs at Nvidia.

Semiconductor valuations are also near record highs after a multi-quarter AI-fueled rally, leaving little room for sympathy trades without fresh catalysts.

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Cramer’s comment highlights a broader caution creeping into AI-related trades. Investors appear selective, rewarding Oracle for its narrative but reluctant to extend enthusiasm across the supply chain. Whether this signals overbought conditions in chip stocks or doubts about Oracle’s ability to sustain its momentum, the divergence is a rare crack in the AI trade’s usual correlations.


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