Mad Money w/ Jim Cramer – October 6, 2025

Overview

This episode finds Jim Cramer navigating the ever-evolving landscape of Wall Street, with a passionate focus on the AI boom's impact on chipmakers, key industry deals, and the resulting ripple effect on the broader market. He weighs in on the skeptics, analyzes game-changing deals between AMD, Nvidia, and OpenAI, and assesses how data centers are making utilities into unexpected growth stocks. Cramer also shares bullish and bearish takes in the Lightning Round and offers insights on select stocks, including Take-Two Interactive and Inspire Medical Systems.

Episode Highlights and Key Discussion Points

1. AMD–OpenAI Deal and the Fourth Industrial Revolution

• [02:00–10:55]
• Cramer opens with his trademark energy, delving into the blockbuster news: OpenAI’s massive multibillion-dollar chip purchase from AMD, on top of its existing partnerships with Nvidia.
• Cramer references his conversations with AMD CEO Lisa Su (“She’s not worried and neither is Greg Brockman, the co-founder and President of OpenAI. He will be doing the pay.” – 02:17).
• He emphasizes that skepticism persists but insists the market is right to believe in the transformative potential of AI hardware investments.
• Drawing historical parallels, Cramer pitches this as the next ("fourth") industrial revolution: “Jensen [Huang] told me I was thinking too small… usher in the fourth industrial revolution. Now initially, I thought that seemed a little bit hyperbolic… And now is the fourth Industrial revolution, the era of artificial intelligence and machines.” (03:13)
• Cramer dismisses the bears and naysayers comparing the AI boom to the dotcom bust. He notes how the current leadership at OpenAI, AMD, and Nvidia is “honorable”—a stark contrast to the fraudsters of the dotcom era.
• Quotes:
  • “You either believe or you don’t believe… I prefer to accept the answer I got this morning from Lisa Su.” – [02:13]
  • “Machines that we’d rather deal with than humans. Machines that will either be our assistants or our enemies if you believe Hollywood.” – [04:10]
  • “Let me tell you just how wrong they are… This deal could be worth tens of billions of dollars to AMD and Lisa Sue. Now the stock market lapped it up.” – [06:52]
  • “But let me tell you, I trust them. What am I going to do?” – [08:40]
• Cramer forecasts that the fight among tech hyperscalers (Amazon, Google, Microsoft, etc.) for AI dominance will only fuel more spending—and more opportunity.

2. Lightning Round: Rapid-Fire Stock Opinions

• [10:55–13:30] and [39:36–43:17]
• Cramer fields call-in questions from listeners and offers quick takes, including:
  • Bank of America: “Let bank of America ride. It’s very inexpensive, I think go much higher… You’ll do well at Bank of America.” – [11:14]
  • Celestica: “That thing is just like a… that’s a freight train.” – [11:36]
  • Goldman Sachs: “Buy. The stock is selling at a ridiculous multiple still…going to blow through this level and you’re going to wish that you got in right now.” – [12:22]
  • Remitly Global: “That is very challenged group right now and I don’t think you want to be there.” – [39:52]
  • Upbound Group: “That model has not been a proven model. I do not like it.” – [40:28]
  • CommScope: “There may be another run in that one. You’re fine.” – [41:30]
  • USAR Rare Earth: “We said that they’re all speculative… You can play that. Remember, that’s what you’re doing. You’re not playing the earnings because there aren’t any.” – [41:56]
  • Globant (GLOB): “What the heck is that doing down there? I don’t know why that stock’s down like that. That’s terrible. We gotta do some work on that.” – [42:56]

3. Take-Two Interactive: Scarcity Premium and the GTA 6 Effect

• [15:16–22:12]
• Cramer takes a deep dive into Take-Two Interactive, whose shares have surged 40% in anticipation of Grand Theft Auto 6, due May 2026.
  • Notes long-term performance: “If you bought this stock eight months before the last Grand Theft Auto… in 2013, and then you held it for the next two years? 133% gain.” – [21:10]
• Take-Two’s other franchises—NBA 2K, Red Dead Redemption—and especially its growth in “recurrent customer spending” get praise.
• The acquisition of Zynga has turbocharged Take-Two’s mobile revenue.
• Industry context: With EA going private and Activision Blizzard now part of Microsoft, Take-Two is the last major American, pure-play, publicly traded video game company.
• Cramer’s verdict: “In the meantime, take [Take-Two] is already firing on all cylinders. And once EA goes private, it will be the only pure player market video game publisher that’s publicly traded.” – [21:44]
• Cautions listeners: Expect delays to GTA 6; those could even offer better entry points for investors.

4. Utilities in the Age of AI—Data Centers as Growth Engines

• [23:31–30:15]
• Cramer highlights the surge in Entergy stock following its major data center contracts with Google and Meta.
  • “These sleepy utilities have done something incredible. They’ve become growth stocks… Data centers have caused an unbelievable spike in demand for electricity.” – [23:54, 24:32]
• He explains how demand from AI/data centers is turning slow-growth regulated utilities into dynamic investments.
  • Dominion Energy: “Ever since that Enbridge deal closed last year, Dominion has just been a juggernaut. … centered around providing a dependable growing supply of power to many data centers in Northern Virginia.” – [27:38]
  • American Electric Power (AEP): “AEP has had a tremendous run this year… thanks to low growth in the data centers. … management’s commentary about the demand growth they see in the future driven by new data center customers, including Google.” – [28:50]
• Bottom line: “The data center built out requires an immense amount of electricity, and that’s turning regulated utilities into growth stories practically overnight.” – [29:52]
• Cramer likes Entergy, Dominion, and AEP as the main utility plays on the data center build-out.

5. Individual Callers and Stock Advice

• Oklo – “You’ve got a really good position and you don’t mess with it… Let’s just stay the course.” – [30:42]
• Accelerate Energy – “I just can’t be excited about it.” Re-affirms preference for Entergy, Dominion, and AEP. – [31:22]

6. Inspire Medical Systems: GLP-1 Headwinds

• [33:05–39:20]
• Cramer answers a follow-up about Inspire Medical, a developer of implantable devices for sleep apnea.
• He details how the rise of GLP-1 weight loss drugs (from Eli Lilly, Novo Nordisk, etc.) has upended the landscape for companies treating sleep apnea, because weight loss addresses the condition’s root cause.
  • “Inspire peaked at $330 in mid July of 2023 and as of today it’s trading at 76 bucks and change, a staggering 77% decline. Mostly because Wall Street’s worried that the GLP-1s will solve sleep apnea before too many people can benefit from Inspire’s technology.” – [35:28]
• Cramer critiques management’s argument that the GLP-1 drugs will eventually help Inspire by expanding the addressable market: “I’m not buying this one bit.” – [37:11]
• Final word: He cannot recommend Inspire; “Rest [ResMed] has been still putting up good numbers.” – [38:55]

7. The Consumer: Stronger Than Headlines Suggest

• [43:23–47:32]
• Cramer takes on the “weak consumer” narrative, citing solid consumer spending, resilient retail numbers (excluding the highest-end brands), and strong bank lending and credit metrics.
  • “In short, the weak consumer narrative should be retired outside of Washington. I think the country’s doing just fine.” – [46:40]

Notable Quotes & Memorable Moments

• “Machines that we’d rather deal with than humans. Machines that will either be our assistants or our enemies if you believe Hollywood.”
  — Jim Cramer on the era of AI, [04:10]
• “Jensen [Huang] has created $4 trillion of market capitalization in less than five years. Why the heck wouldn’t I believe it?”
  — Jim Cramer on Nvidia’s visionary CEO, [07:41]
• “I take offense when people question what Jensen’s doing, I really do.”
  — Jim Cramer, [09:04]
• “They are right to keep spending. They have to. And that’s what OpenAI’s partnership with AMD is all about. They need every bit of computing.”
  — Jim Cramer, [09:52]
• “If OpenAI gets this computing power… I think this company can go after everybody’s business. No wonder the hyperscalers are spending so aggressively, too.”
  — Jim Cramer, [10:32]
• “Grand Theft Auto 6 is almost guaranteed to be a major hit. And in the meantime, Take Two is already firing on all cylinders.”
  — Jim Cramer, [21:35]
• “The data center built out requires an immense amount of electricity, and that’s turning regulated utilities into growth stories practically overnight.”
  — Jim Cramer, [29:52]
• “I can’t give Inspire Med my blessings because it really does seem like the company is being hurt by the GLP-1s... And from the looks of things, the GLP-1s may be eating them alive.”
  — Jim Cramer, [38:15]
• “In short, the weak consumer narrative should be retired outside of Washington. ...the country’s doing just fine.”
  — Jim Cramer, [46:40]

Timestamps for Major Segments

• AMD, OpenAI, and AI Industrial Revolution: [02:00–10:55]
• Lightning Round (1): [10:55–13:30]
• Take-Two Interactive and Video Game Industry: [15:16–22:12]
• Utilities/Data Center Demand: [23:31–30:15]
• Lightning Round (2): [39:36–43:17]
• Inspire Medical Systems/GLP-1s and Health Tech: [33:05–39:20]
• The Consumer Economy: [43:23–47:32]

Conclusion

This episode of Mad Money channels Jim Cramer's signature blend of informed optimism and hard-nosed skepticism. He remains a strong believer in the ongoing AI revolution, urges listeners to look past the skeptics, and highlights the unexpected ways tech trends are revitalizing traditional sectors like utilities. While warning about specific risks (such as the shock disruption to sleep apnea medical device makers), Cramer persists in his mission: “There’s always a bull market somewhere—I promise to find it just for you right here.”

For further details or clips, visit madmoney.cnbc.com