저자: JimCramer · 외국인
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크레이머는 SpaceX IPO를 높이 평가하며 일론 머스크와 젠슨 황을 '미래 가치를 먼저 본 인물'로 연결했다. 엔비디아 시총 약 3.3조달러에서 4조달러까지 약 20% 상승 여지를 언급하고, 데이터센터 매출이 2022년 약 150억달러에서 연환산 약 1200억달러로 성장했다고 주장했다. 기술 패권 경쟁과 스타링크의 AI·방산 인프라 역할을 근거로 엔비디아 낙관론을 폈다. 다만 4조달러 도달 시점에 대한 명시적 기간 언급은 없다.
다듬은 글
I feel like we should want to encourage wealth, and this one is only going to make people a lot of money. And Jim Cramer just gave the exact reason why Nvidia hits 4 trillion. Buried inside a comparison most people completely glossed over. That's the same thing that Jensen Huang, another genius, did.
He had a lot of things in his head that hadn't been fully articulated, that they have been all coming true. Another genius. He said it casually. But that one word is the entire reason Jensen Huang's company is worth betting on at 4 trillion. This all started with the SpaceX IPO, one of the most anticipated public listings in years.
And when Cramer came on CNBC to break it down, he did what he always does. He gave his take on the deal, the valuation, the hype. But then, almost as a side note, he said something that had nothing to do with SpaceX. He brought up Jensen Huang. And the comparison he made is something every Nvidia investor needs to hear.
Look, this was beautifully done. It was an A plus. Everybody involved did a terrific job. Cramer was glowing about the SpaceX deal, and that's important context. Because when Cramer is this bullish on a listing, he tends to connect it to something bigger, a theme, a trend, a name. I feel like that in some ways we're losing everywhere against the Chinese, or at least the press makes us feel like it, but we're not losing in space.
We're not losing in space because Elon Musk has a vision. This is where it starts to get interesting. Cramer is drawing a line between American technological dominance and individual vision. He's saying the reason the United States is winning in space is not a government program, not a committee, not a five-year plan.
It's one person with a vision that nobody else fully understood until it was already happening. Sound familiar? That's the same thing that Jensen Huang, another genius, did. He had a lot of things in his head that hadn't been fully articulated, that they have been all coming true. He's talking about Elon Musk here.
But pay close attention to the framing. Things in his head that are far more valuable than what we see. That's not a comment about SpaceX's current business. That's a comment about future value that hasn't been priced in yet. And then Cramer pivots. Immediately after saying this about Elon Musk, he drops Jensen Huang's name.
He has things in his head right now that are probably far more valuable than what we see and just hasn't articulated There it is. Cramer is putting Jensen Huang in the same category as Elon Musk. Two people who saw something that the rest of the world couldn't see yet. Two people whose ideas seemed either too ambitious or too early until suddenly they weren't.
And if you understand what Jensen has already built, that comparison should send a very clear signal about where Nvidia is going next. Think about what Jensen Huang was saying 5 years ago. He was talking about artificial intelligence as the next computing platform. He was saying that graphics processing units, chips that were originally designed to render video game graphics, were going to become the engine of modern intelligence.
Almost nobody believed him. Wall Street didn't believe him. The enterprise technology world didn't believe him. And then chat GPT launched. And overnight, every major technology company on the planet realized they needed what Nvidia was already building for years. That's what Cramer means when he says Jensen had things in his head that hadn't been fully articulated.
The vision was there long before the market caught up. And here's what makes Cramer's comparison so significant right now. He's implying it's happening again. I think there's more to this company than what's in the prospectus. Uh and I think that I don't know personally I'm proud uh proud to be an American today.
He says this about SpaceX, but the structural argument is identical for Nvidia. There is more to this company than what the market is currently pricing in. And Cramer has been around long enough, 44 years on Wall Street, to recognize that pattern when he sees it. So, let's talk about the $4 trillion number because that's what the title of this video is about and it deserves a real explanation rather than just a headline.
Nvidia today sits at roughly $3.3 trillion in market capitalization. Getting to $4 trillion from here requires the stock to move up about 20%. In isolation, that sounds like a big number, but when you zoom out and look at what Nvidia is actually doing right now, 20% starts to look conservative. But sometimes deals are done and they really pop just as much as they should and they attract people.
Kramer uses this line about SpaceX, but it maps perfectly onto the Nvidia Nvidia valuation debate. The bears will tell you that Nvidia is overvalued, that the price-to-earnings ratio is stretched, that the artificial intelligence boom is priced in, but Kramer's entire argument, and it's an argument backed by history, is that when a company is genuinely reshaping a major industry, the valuation that looks high today often looks cheap in 3 years.
Here's the financial reality. Nvidia's data center revenue has grown from roughly $15 billion a year in 2022 to an annualized run rate approaching $120 billion today. That is not a stock story. That is a fundamental business transformation happening in real time. The Blackwell chip architecture is now shipping at scale.
The next generation Vera Rubin is already in development, and every major cloud provider, Amazon, Microsoft, Google, Meta, is spending hundreds of billions of dollars on artificial intelligence infrastructure. And the majority of that spending flows directly through Nvidia. I've been seeing that since I got in the I walked down Wall Street uh 44 years ago when the Dow was at about a thousand and the same naysayers, some of them are still around, but
This is the most underrated point Kramer makes in this entire segment. He's not just being optimistic. He's making a historical argument. Every transformational technology company in modern history has faced the same wall of skepticism at every stage of its growth. Amazon was called a bookstore that couldn't make money.
Apple was written off multiple times. And Nvidia, 3 years ago, was considered a gaming chip company with an interesting side business in artificial intelligence. The people who listen to the naysayers missed the entire run. Now, here's the second thing that came to light in this interview. And this is the hook I promised you at the start.
Remember that Cramer is talking about SpaceX when he makes the Jensen Huang comparison. But why does that matter for your Nvidia position? Because of what SpaceX actually does. SpaceX operates Starlink, the largest satellite internet network on the planet. And Starlink is not just a consumer internet product.
It is becoming critical communications infrastructure for artificial intelligence systems, for autonomous vehicles, for defense applications. And guess what powers the ground-based processing behind those systems? Nvidia chips. Well, you know, the the Chinese targeted uh robots and they targeted cars.
Uh and when the PLA and the Chinese government get together, they can really wreck a lot of industries as many working people in our country know. Uh I think that Elon Musk will not will not tolerate that. Cramer is connecting geopolitics to technology leadership. And this is where most viewers stop listening carefully.
Because what he's actually saying is that the race between the United States and China is not just about trade policy or tariffs. It's about who controls the foundational infrastructure of the next technological era, space, artificial intelligence, robotics, autonomous systems, and the common thread running through all of it.
The picks and shovels play that every single one of these industries depends on, Nvidia. Okay, but we're not losing in space. We're not losing in space cuz Elon Musk has a vision. You're allowed to buy a piece of what Elon Musk is doing. You're allowed to buy a piece of this, Cramer says it's about SpaceX, but the same logic applies to Nvidia.
You're allowed to buy a piece of what Jensen Huang is building, and what Jensen is building is not one product, not one chip generation, not one market. It's the underlying compute layer for how the entire world processes intelligence going forward. This is what Cramer's really saying when he compares Jensen to Elon.
He's not making a personality comment. He's making a structural argument about how rare it is for one company to be positioned exactly where the world needs to go before the world fully knows it needs to go there. Elon Musk understood that cheap access to space would unlock everything else. Jensen Huang understood that parallel computing would become the engine of intelligence before most people even knew what a graphics processing unit was.
Both of them built for a future that wasn't visible yet. Both of them absorbed years of skepticism, and both of them ended up being right in ways that made their early believers extraordinarily wealthy. And they've kept people from being wealthy, uh and their jobs, the people who have the regular jobs, they would never make them wealthy.
Cramer is blunt here. The naysayers don't just get the analysis wrong, they actively cost people money. And for Nvidia specifically, the cost of listening to the wrong voices has been enormous. Every analyst who called the valuation too high at $500, at $800, at $1,000, it they were wrong. Not because the analysis was sloppy, because they were measuring a generational company with ordinary tools.
The $4 trillion target isn't a fantasy. It's the next logical step for a company that has already done something almost nobody thought was possible, and is now positioned at the center of the most important technology buildout in a generation. Cramer sees it, Jensen sees it, and if you've watched this video to the end, now you see it, too.
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