저자: JimCramer · 외국인
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크라우드스트라이크 실적은 ARR·현금흐름이 양호했으나 매출 가이던스 상향에도 시장 반응은 실망적이었다. AI 보안 수요와 가이던스 상향(연간 순신규ARR +5천만달러 이상)을 근거로 투자자들에게 매수 기회라는 입장. 이후 지정학 리스크는 단기 충격 후 평균 4주 내 반등한다는 분석과 에너지·반도체 강세를 언급. 엔비디아는 칩 기업에서 AI 인프라 레이어로 확장 중이며 컴퓨트 수요가 공급을 앞서고 있고, 추론(inference) 수요가 지속 성장할 것이라고 주장.
다듬은 글
But in practice tends to attract more individual investors. Now I think this is a buying opportunity. But don't take it from me. Earlier today I had the chance to speak with George Kurtz, the founder and CEO of CrowdStrike. Take a look. George, welcome back to Mad Money. Jim, great to be here. You know, George, I got to tell you, I followed your company since you came public and I was saw you had record new annual recurring revenue, you had accelerating revenue growth, you had record cash flow, you had free cash flow that was terrific, you had new new ARR that was great.
But somehow it was regarded as disappointing. So I have to believe that at some level you might have been surprised that this quarter was disappointing. Well, Jim, the way I look at it is we have the best products and we're taking care of our customers in an era where AI is obviously going to be pervasive and you're going to need security.
So I thought we posted a fantastic quarter. Obviously you went through some of the stats. The other stat that I'll point out to you is our rule of 40 was 59. So when you think about the growth and the cash flow generation, uh it's insane at our scale. So we're very proud of the quarter and uh we're excited about the future and the tailwinds that we're seeing from AI.
Well, let me let me posit something. We've had this terrible uh discovery basically, this mythos, where it looks like the things are way out of control. And I figured that you would have a huge amount of business when this news broke. But it doesn't seem like maybe it it turned into a lot of business.
Was I wrong? Well, Jim, you have to look at the calendar. You're talking about mythos breaking in the middle of April. Our quarter ends at the end of April, right? So we're selling enterprise software, not necessarily shipping boxes. So these things take time to get into customers' hands. You got to go through a sales cycle.
Uh but what I want to point out is you have to look at the guidance of the next quarter. We raised the full year guidance uh across the entire year, our net new ARR guidance by over 50 million, um over 520 basis points, which is an incredible raise. So, we have the confidence to do that because we see the opportunity that's in front of us and we see what customers are looking for which is CrowdStrike, which is our AI DR technology, AI detection and response to be able to identify rogue AI agents and be able to protect those and allow people to actually accelerate their AI adoption in an enterprise.
Well, I mean is it possible that people are concerned that you did not raise your Neutron AR and you came in with 5.51 billion versus 5.503 billion and people thought that maybe the spring rally wasn't justified. Well, I would point you to the whole year Tim. You know, 520 basis points is a big move and we see this taking place across the entire entirety of the year.
So, we feel really good about the raise. I think we feel fantastic about the pipeline. As an example, our AI DR technology we're entering the pipeline with over 50 million in in Q2 alone. We saw 250% quarter over quarter growth just in that that product alone. And what I know from talking to customers is they want to roll out more AI and if you need more AI, you want to consume more AI, you're going to need security.
So, yeah, I thought it was a great Q1 and we're excited about the future and the guidance that we provide. well, couldn't agree more. It's why I told our people who belong to the investing club, don't believe what you read. This is an amazing quarter. I want to ask about project class wing from Anthropic.
What I understand from the people I talked to, you're pretty much leading the cybersecurity efforts to try to figure out what to do here, despite the fact that Anthropic thought at one point that they could handle it themselves. I don't think that insurance companies wanted Anthropic to handle it themselves and I think they wanted you to do it because I think you actually know how to stop it.
But Jim, what's important to realize that security is an ecosystem. And to be successful, you need to have an ecosystem that's going to help customers and help partners. So, when you look at what Anthropic has come out with, you they've got some great models, no doubt, but in order to be able to work with customers, you have to take advantage of those deep trusted relationships with which companies like CrowdStrike have built over the last 15 years.
You have to leverage the deep data mode that we have with our Falcon technology, and you have to leverage the fact that we're in the middle of helping to stop these big breaches or helping non-customers respond to the breaches they have, and then we turn them into customers. So, I think the ecosystem is a key part.
They recognize that, and we're happy to be part of that coalition. And you know, again, we're also working with with OpenAI in in their TAC program. So, we're at the epicenter of AI and security, and I think that goes to show you the leadership position that we have. Well, can you talk to me about Project Quilt Works and what you are doing there?
Because that seems to be equally as important for the future as what you might be doing with CrowdStrike. Yeah, I offer Global Equities. Uh good morning to you. We've been all trying to understand what what to make of this, um and what to make of what to make of this market right now, uh given the sort of the shocking amount of what seems like volatility in the geopolitical space, but not actually volatility in the market.
Yeah, so for the markets, geopolitics has short lags but long shadows. So, on average, the equity markets rebound 4 weeks from the onset of conflict, but they do have lasting structural impacts on the economy. And we saw that in '73, for example. Right. Much more investments into energy independence, strategic oil reserves, also refocus on fuel efficiency and renewables.
And I think we'll see the same this time around. So, paradox So, So, when you say we're going to see the same, what is that What's the rotation then? Energy infrastructure and power. And I think we have seen this in the market. What we've seen so far is that energy and also semiconductors have lifted the market so far this year.
& real opportunity may be much larger than the many people think. When most investors think about Nvidia, they think about chips, powerful GPUs, AI training, and the data centers. And while all those things are important, they may no longer be the most important part of the story. Because Nvidia is quietly transforming from a chip company into something much bigger.
It's becoming the infrastructure layer of the AI economy. And that's a much larger opportunity than the most investors appreciate. Over the past year, the market has been obsessed with one question. Who will challenge Nvidia? Will it be the custom silicon? Will it be the AMD? Will it be internal chips built by the hyperscaler?
Will it be the startup nobody has heard of it? But while investors focus on who might take sales from Nvidia, Nvidia keep expanding into the new market. That's what make the current setup so fascinating. The company is no longer dependent on a single product cycle. Every major AI trend seem to be create another opportunity.
AI factories, inferences, generative AI, enterprises AI, consumer AI, robotics, automation systems, sovereign AI. Each trend add another layer of demand. And demand is already running ahead of the supply. That's the part many investors still underestimate. The world remain compute constrained. Not next year, not 5 years from now.
Right now, companies are actively competing for access for compute. Developers are searching for available GPUs, cloud providers are expanding capacity, and infrastructure operators continue to sing signing the massive contracts. In fact, the strongest evidence of the bull case may be the what's happening isn't happening.
There is no idle AI clusters sitting unused. There are no giant pools for excess waiting for customers. No infrastructure is being absorbed almost as soon as come online. That's completely different environment from the previous technology boom. Back then, companies often build infrastructure hoping demand it would eventually arrive.
Today, demand is already here. The infrastructure is trying to catch up. That's why the industry keep running into the bottlenecks. Power, memory, networking, advanced packaging, data center construction. Everywhere you look, the limitation isn't demand. The limitation is supply. And when supply become the limiting factor, the companies controlling critical technology gain tremendous leverage.
That's where Nvidia find herself today. But another safety is making the story even more compelling. The AI industry is moving from experimentation to the monetization. For the last couple of years, companies focused on building larger and more powerful models. Now, focus is shifted toward turning those models into the business.
That means generating revenue, serving customers, processing the request, running agents, delivering real-world application. All of that require inferences. And inferences becoming the one of the largest compute opportunity in the industry has ever seen. Every AI response, every digital assistant, every enterprises workflow, every automation system cost compute.
And unlike training, inferences happen continuously. The most The more successful AI become, the more inferences demand will grow.
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