Viewpoint: Despite weak stock performance, the AI industry still revolves around Nvidia

BlockBeats News, on July 7, CNBC stock commentator Jim Cramer stated that despite the recent weakening sentiment towards Nvidia and continued pressure on its stock price, Nvidia remains at the core of the AI industry.

He believes that the current selling of Nvidia shares in the market has become excessive, and its forward price-to-earnings ratio has dropped to 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 technology, and there is no sign that Nvidia will lose its industry-leading position.

Additionally, he mentioned that some investors have recently sold Nvidia shares to free up capital for allocating to other tech stocks, including the newly listed SpaceX.