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Opinion: Despite weak stock performance, the AI industry still revolves around NVIDIA.

2026-07-07 19:02:48

Abstract generation in progress

ME AI News, July 7 – CNBC stock commentator Jim Cramer stated that despite the recent weakening sentiment toward NVIDIA and the continued pressure on its stock price, NVIDIA remains the core of the AI industry. He believes the current sell-off in NVIDIA has become excessive, with its forward P/E ratio dropping near its lowest level this year. He pointed out that while some companies, including Chinese AI firm DeepSeek, are developing their own AI chips, they still heavily rely on NVIDIA's technology, and he has seen no signs that NVIDIA will lose its industry leadership. Additionally, he noted that some investors have recently sold NVIDIA shares to free up capital for allocation to other tech stocks, including the newly listed SpaceX. (Source: BlockBeats)

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