Opinion: Despite Weak Stock Performance, the AI Industry 'Still Revolves Around NVIDIA'

BlockBeats News, July 7th, CNBC stock commentator Jim Cramer stated that despite the recent market sentiment turning bearish on NVIDIA and the continuous pressure on its stock price, NVIDIA remains a core player in the AI industry.

He believes that the current sell-off of NVIDIA in the market has been excessive, with its forward P/E ratio falling to near this year's lowest levels. He pointed out that although some companies, including Chinese AI company DeepSeek, are developing their own AI chips, they still heavily rely on NVIDIA's technology, and there is no sign yet that NVIDIA will lose its industry-leading position.

Furthermore, he mentioned that some investors have been selling NVIDIA shares recently to free up funds to allocate to other tech stocks, including the newly listed SpaceX.