Jim Cramer Said NVIDIA Corp. (NASDAQ:NVDA) Doesn’t Need Anyone But Elon Musk

August 23, 2026 - 06:31

Jim Cramer is not backing away from NVIDIA Corp. (NASDAQ:NVDA), even as the stock has been relatively quiet this year. Shares are up about 13.7% year-to-date, which is solid but hardly the explosive growth investors got used to. Still, the CNBC host remains firmly in the bull camp.

During his morning segment, Cramer argued that NVIDIA does not need a wide circle of customers or partners to succeed. In his view, the company really only needs one name: Elon Musk. Cramer pointed to Musk's various ventures, from Tesla to xAI, as massive consumers of advanced computing power. He suggested that the relationship between NVIDIA and Musk's companies is enough to keep demand strong for years.

Cramer also framed NVIDIA as the driving force behind what he calls an industrial revolution. He believes the company's chips are the gold standard in the market, and that no competitor has come close to matching its performance or scale. Even with concerns about valuation and potential slowdowns in data center spending, he thinks NVIDIA is positioned to lead for the long haul.

Not everyone shares that enthusiasm. Some analysts have warned that the market for AI chips could cool off, and that NVIDIA's growth rate is bound to slow as the base gets bigger. But Cramer is sticking to his guns. He sees the current price action as a pause, not a reversal, and he expects the stock to keep climbing as AI adoption spreads across industries.

For now, Cramer's message is simple: NVIDIA is the pick and shovel play of the AI era, and with Musk in the picture, the demand story stays intact.