Mad Money w/ Jim Cramer – Episode Summary

Date: November 11, 2025 | Host: Jim Cramer (CNBC)
Major Segments Covered: Market Rebound, Data Center Build-Out, AI Leaders (Nvidia, Palantir), Healthcare (Amgen’s Repatha), Quantum Computing (D-Wave), Dutch Bros, The Lightning Round, Weight-Loss Drug Race

Episode Theme Overview

Jim Cramer takes listeners through a whirlwind day on Wall Street, reflecting on a powerful market rebound triggered by positive news on a government shutdown, and covers the resilience and opportunity in major market themes: artificial intelligence, the data center boom, healthcare innovation, and the rapid evolution of quantum computing and specialty retail (Dutch Bros). He features interviews with top executives and gives candid stock advice in his signature “Lightning Round.”

Key Discussion Points & Insights

1. Market Rebound: AI, Data Centers, and Investor Psychology

• Backdrop: Market surged (Dow +382; S&P +1.54%; Nasdaq +2.27%) after fears of a government shutdown and OpenAI's comments spooked investors last week.
• Cramer’s Take: Short sellers are misjudging the staying power of AI-related stocks like Nvidia and Palantir. Past success in shorting doesn’t always translate to current themes.
  • Quote: “The shorts think that because they were successful shorting one theme, they'll be successful shorting another. I say not so fast. Doesn't work like that.” (03:51)
• Nvidia & Palantir Defense:
  • Nvidia: Historically looks “expensive” until beat-the-street earnings make it cheap.
  • Palantir: CEO Alex Karp’s unique leadership is lauded—“He never stops crushing the expectations.” (07:19)
  • Cramer is bullish: “When it was at 50, I said we'll go to 100... now I think it's going to 250 after this pit stop.” (07:45)

Notable Quotes

• “I've learned to trust the market and not start betting against it… As much as the stock market seems nuts, it's not as nuts as you think.” (02:23)
• Alex Karp (via Cramer): “This ascent has confounded many financial analysts and the chattering class.” (09:19)

Timestamps

• [01:54] – Opening remarks; market context
• [03:51] – Why short sellers should be cautious on AI
• [07:19] – The case for Palantir and Nvidia

2. Government Shutdown, Consumer Confidence & China’s Tech Race

• Impact: The (potential) end of the shutdown was the catalyst for the market rally; air travel chaos dented consumer confidence, crucial near Thanksgiving.
• China vs. US Data Centers:
  • China’s aggressive build-out is outpacing the US. American tech must keep up.
  • Quote: “Even if you have zero faith in Silicon Valley, recognize that the Chinese are doing the same thing and respect that.” (12:03)

Timestamps

• [09:54] – Shutdown impact & market confidence
• [12:03] – Data center build as a global race

3. Stock Calls – Lightning Round Highlights

• Netflix: “I like Netflix aplenty... It's a subscription business. There for me.” (12:49)
• Broadcom: “Broadcom’s a buy… Hawk Tan is one of the greatest CEOs ever.” (13:23)
• BlackRock & Blackstone: “I like both. I own BlackRock… Larry Fink is terrific. Buy that stock right here, right now.” (13:39)
• Thematic Takeaway: Subscription and infrastructure businesses remain Cramer's favorites.

Timestamps

• [12:49] – Netflix
• [13:23] – Broadcom
• [13:39] – BlackRock/Blackstone

4. Spotlight Interviews

A. Amgen: Heart Attack Prevention & Obesity Drugs

Guest: Bob Bradway, CEO of Amgen

• Repatha Clinical Trial:
  • Reduced first heart attack risk by 36% in study population; lowering LDL to a median of 45 had clinically meaningful impacts.
    • Quote (Bradway): “These trial data unequivocally suggest that’s a conversation that’s worth having with your physician… when it comes to LDL cholesterol, lower is better.” (17:51)
  • Repatha now widely affordable ($8/day out-of-pocket via Amgen’s programs).
    • Quote: “We’ve now unequivocally answered that when it comes to LDL cholesterol, lower is better.” (16:56)
• Maritide (Obesity):
  • In development for diabetes and weight loss—long-acting, potentially monthly dosing. Strong early interest in phase 3.
• Cramer’s advocacy: “This is a very big drug… just want to save your life.” (23:18)

Timestamps

• [15:23] – Bradway interview opens
• [16:56] – Repatha clinical impact
• [19:51] – Maritide update
• [23:18] – Cramer’s endorsement

B. D-Wave Quantum: Quantum Computing Commercialization

Guest: Alan Baratz, CEO of D-Wave

• Quantum for Real Applications:
  • D-Wave’s superconducting quantum computers are already being used commercially:
    • Japan Tobacco: Training AI for molecular discovery, first-ever use of quantum for real AI applications.
    • Swiss Quantum Technology: 50% capacity deal to power Italy’s digital transformation.
    • Commercial wins with companies like BASF, North Wales Police.
• Competitive Position:
  • Only company offering both main quantum architectures (annealing and gate-based).
  • Claims quantum advantage ("quantum supremacy")—“our annealing quantum computers are the only ones in the world that have been able to solve a real-world problem that can't be solved classically.” (29:32)
• Cramer’s Take: Sees D-Wave as his speculative pick in quantum computing, despite sharp stock volatility. “I believe in the technology.” (31:59)

Timestamps

• [25:33] – Baratz interview opens
• [26:25] – Japan Tobacco’s use-case
• [27:40] – Swiss Quantum Tech partnership
• [29:32] – D-Wave’s superiority claims

C. Dutch Bros: West Coast Coffee Chain’s Nationwide Growth

Guest: Christine Barone, CEO of Dutch Bros

• Growth Story:
  • Opened in 24 states, 1,081 shops, targeting 7,000 potential nationwide.
  • Company-owned same-store sales growth at 7.4%; no regions are underperforming.
  • Expanding menu (holiday drinks, protein milk options), highly engaged staff “broistas,” strong brand with Gen Z.
    • Quote (Barone): “It’s really a full experience that you get at Dutch Bros… you get an awesome drink and a conversation.” (35:37)
  • 72% rewards program participation and 13% of orders via mobile app—modern, digitally enabled.
  • Seen as a “category creator” in customized energy drinks, not just coffee.
• Cramer’s Take: “Even in markets where we’ve been for a long time, we still have a lot of great growth ahead of us.” (36:46)

Timestamps

• [33:52] – Barone interview opens
• [34:05] – Same-store sales details
• [35:37] – Gen Z appeal & staff culture
• [36:46] – Expansion prospects

5. Extra: Weight-Loss Drug Wars (Pfizer, Lilly, Novo Nordisk)

• News: Pfizer acquires Medsura for access to a once-a-month GLP-1 weight-loss shot.
  • Cramer argues this is smart, but Lilly remains the big winner, especially with a pill form coming.
  • Warns: just as Lipitor once unseated other blockbusters, new entrants can still disrupt the market.
    • Quote: “Can Pfizer win again in the GLP-1 space? ... Even if this isn’t Lipitor part two, it’s definitely worth $10 billion to get into what may be the biggest class of drugs ever sold.” (46:50)

Timestamps

• [44:38] – Pfizer & the GLP-1 weight-loss drug market

Memorable Quotes & Moments

• Investor Emotion:
  “There were five grown men crying. My wife had to comfort them. That's because they had become Nvidia millionaires.” ([09:49])
• Piercing the Noise:
  “Am I supposed to abandon the leadership and get out now because some short seller who was once right about something is arguing AI is now a house of cards?” ([11:45])
• Candid Advice (Lightning Round):
  “I don’t like a stock telling me I’m wrong… Even though I got a problem with hearing, I can hear the footsteps of the people leaving Bristol Myers.” ([41:23])

Segment Timestamps Quick Guide

• [01:54] – Market open, AI theme, government shutdown
• [12:49] – Lightning Round starts: Netflix, Broadcom, BlackRock
• [15:23] – Amgen CEO on cholesterol, obesity, drug pricing
• [25:33] – D-Wave CEO on quantum AI & global deals
• [33:52] – Dutch Bros CEO on growth, digital engagement
• [41:23] – Lightning Round (Bristol Myers, Baidu, Brinker)
• [44:38] – Weight-loss drug wars (Pfizer/Lilly)
• [46:50] – Cramer’s closing reflections

Summary Takeaway

This episode of Mad Money shines a spotlight on the ongoing resilience and dynamism of the US market, with bullish takes on AI and data center stocks (Nvidia, Palantir), key health innovations (Amgen’s Repatha), and fast-moving opportunities in quantum computing and retail. Cramer urges patience and confidence in proven market leaders, highlights the risks of following yesterday’s short-selling logic into today’s bull narratives, and brings in top CEOs to lend firsthand insights into why these stories are more than just hype.

Whether for market veterans or newcomers, this is a classic Mad Money rollout of actionable insight, tough Q&A, and “fiery” financial optimism.