Jim Cramer heard SpaceX wants to buy more Nvidia GPUs and decided this qualifies as investment thesis. Not that they bought them. Not that they deployed them. Not that they generated revenue from them. That they plan to buy them.
Plans.
The man gets paid to tell people which stocks to buy based on a company's stated intention to make a future purchase from another company. SpaceX could announce plans to buy branded pencils from Staples and we'd get a sixty-second rant about office supply sector rotation.
Cramer says SpaceX proves companies make returns on AI compute investments. SpaceX is a private rocket company that doesn't report earnings. Nobody outside of Elon's inner circle knows if they're making returns on anything. They could be using those GPUs to render Shrek memes in 8K. They could be training an AI to optimize the exact angle at which Elon tells regulators to f*ck off. Returns are unknowable. But sure, bullish signal.
The logic chain goes like this: SpaceX plans to buy GPUs, therefore AI investments work, therefore Nvidia stock goes up, therefore you should buy it because Jim said so on television. That's four levels of abstraction between you and anything resembling a fact.
Retail traders will watch this segment and think they've done research. They'll open Robinhood. They'll buy twelve shares at the top. They'll check the price every four minutes for three weeks. Then they'll panic sell at a loss and blame Jerome Powell.
Cramer's bullishness has the structural integrity of a house built on plans to buy lumber.
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