Jun 1, 2026 · 44 min
Cramer tests the data-center boom and market’s next rotation
Mad Money w/ Jim Cramer 6/1/26
The episode weighs whether AI infrastructure demand can sustain technology leadership while capital shifts toward new offerings, freight, energy, and financial stocks.
- 1Cramer argues NVIDIA’s momentum remains tied to industry demand, not merely speculative enthusiasm around artificial intelligence.
- 2FedEx Freight’s chief executive outlines a standalone growth plan built on automation, sales-force rebuilding, network advantages, and margin improvement.
- 3Cramer warns a large SpaceX IPO could pressure existing holdings as investors sell assets to fund new-market participation.
Don't miss
Cramer explains how a large SpaceX IPO could pressure the broader market if investors sell existing holdings to fund participation.
The brief
Cramer opens by asking whether data-center spending can continue at its current scale, arguing that the boom deserves analysis beyond a simple comparison with the dot-com era.
A discussion of Bank of America and Wells Fargo valuations leads to NVIDIA’s outlook, with Computex presented as evidence that industry demand still supports the company’s strength.
FedEx Freight’s chief executive explains how independence could support profitable growth through network advantages, rebuilt sales, automation, artificial intelligence, and autonomous line-haul trucks.
The potential SpaceX IPO becomes a market-structure question: a very large offering could create selling pressure as investors liquidate existing positions to participate.
Cramer then considers rotating some oil exposure toward Bloom Energy and challenges broad claims that technology stocks are overvalued, citing Dell and changing memory-price expectations.
What was said on this episode
28 statements · 22 positive · 5 negative · 1 neutral
The data-center investment boom may avoid a boom-bust outcome.
“the so-called fourth industrial revolution might be less boom, let me boom bust than we thought”
Listen at 1:32
Oracle, Nebius, and CoreWeave will initially benefit as data-center builders.
“the initial winners will be the data center builders with Oracle, Nebius and CoreWave getting a nice shout out”
Listen at 3:09
NVIDIA’s broad customer base reduces concern about competitive customers.
“I am not as concerned because you know that NVIDIA is a big position of a capital trust.”
Listen at 5:32
NVIDIA will break out as its dominance returns and valuation appears cheapest in its group.
“NVIDIA is going to break out now, I think, as its dominance reasserts itself and the investors realize that somehow it's now the least expensive stock in the entire group.”
Listen at 7:46
Bank of America and Wells Fargo are among the market’s cheapest stocks.
“These now are the cheapest stocks in the market.”
Listen at 8:19
FedEx Freight expects independence to improve its ability to invest in LTL operations.
“we're super excited about being independent”
Listen at 11:17
FedEx Freight claims network advantages in size, speed, and reliability.
“we feel like that we have advantages, especially from a network perspective when we're the largest by far and the fastest as well as the most reliable”
Listen at 11:58
FedEx Freight plans to reach a 15% margin by 2029.
“over the next three years, we laid out a plan to be at a certain point in 2029 with a 15% margin”
Listen at 13:59
FedEx Freight is testing autonomous line-haul truck technology.
“The other, the line haul, right now we've been testing that technology at FEC, Remainco.”
Listen at 15:32
The tested autonomous trucks operate without driver intervention 99.9% of the time.
“99.9% of the time. Drivers never touch one thing.”
Listen at 15:55
Autonomous-vehicle safety technology has made FedEx Freight drivers safer.
“it's made our company drivers more safe”
Listen at 16:18
FedEx Freight expects to grow even during a weak economy.
“with our strategy, we feel like that we can grow in a down economy”
Listen at 18:19
Large IPOs tend to pressure markets as investors sell existing holdings to participate.
“huge IPOs tend to weigh on the market because people need to sell something. in order to participate in these deals.”
Listen at 20:04
SpaceX’s extended lockups should support its stock through early 2027.
“the fact that 60% of SpaceX shares are locked up until at least early 2027 should help prop up the stock”
Listen at 22:55
SpaceX’s share float will materially affect stock performance during its first year.
“the specifics of the company's flow will end up being a major factor in the stock's performance over its first three, six, or even 12 months of trading”
Listen at 26:50
The caller should shift some Exxon and Diamondback holdings into Bloom Energy.
“I think that situation makes a lot of sense, and you should do it maybe even as soon as tomorrow.”
Listen at 28:15
Nokia has increased exposure to optical networking and data-center interconnects.
“Nokia has now got more exposure to that.”
Listen at 32:05
Nokia stock will decline if semiconductor stocks reverse.
“If the semis roll over, this team will get hit along with them.”
Listen at 33:54
Investors may take a small Nokia position, preferably after a pullback.
“you got my blessing to put on a small position in Nokia, although you might want to wait for a pullback before you pull the trigger on anything”
Listen at 35:42
Investors should consider buying ZIM because of its 14% yield.
“I thought 14% yield, I would buy some.”
Listen at 36:56
Investors should avoid making a large commitment to Eagle Nuclear Energy.
“I would not necessarily bet my farm on that one. It's a spec.”
Listen at 37:13
BlackBerry stock will rise further.
“I think it goes higher.”
Listen at 37:42
Investors should sell Power Solutions after its severe earnings miss.
“I would cut my losses.”
Listen at 38:28
D-Wave stock will rise after Quantinuum goes public.
“your stock will go up a couple of bucks.”
Listen at 38:55
D-Wave stock may be worth owning.
“It might be worth owning.”
Listen at 38:57
Investors should have bought Dell rather than feared its valuation.
“We shouldn't have been scared of Dell. We should have been buying it.”
Listen at 40:32
Data-center technology stocks were substantially undervalued relative to future earnings.
“Perhaps instead of talking about a bubble in tech, we should be talking about how these stocks were way too cheap versus what they were really worth.”
Listen at 41:12
Abbott Laboratories was overvalued about a year earlier.
“the overvaluation of an Abbott Labs a year ago was the real conundrum”
Listen at 43:24
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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