Mad Money w/ Jim Cramer — Episode Summary (11/12/25)

Episode Overview

In this episode, Jim Cramer offers his energetic and candid take on current market dynamics, emphasizing a notable shift from tech/data center stocks to "real economy" sectors as government shutdown fears subside. Cramer explores why diversification beyond the crowded AI space may be wise, analyzes Flutter Entertainment’s results and new predictions market, unpacks AMD’s robust financial targets, checks in with Databricks' CEO about pragmatic AI productization, and fields rapid-fire calls in his trademark Lightning Round. He closes with hard-won advice on when to sell, especially in an era of rampant "magical investing".

Key Discussion Points & Insights

1. Market Rotation: Away from AI, Into the Real Economy

[01:54–09:29]

• Main Theme: The stock market's resilience amid a tech decline — led by data center/AI spending exhaustion — and a broadening to "old economy" sectors.
  • “It feels like the revenge of the nerds, people — with the nerds this time being reasonably priced stocks of companies that don't need trillions of dollars of data center spending to pan out and aren't usually found on the Nasdaq.” — Jim Cramer (02:27)
• Sectors Leading the Charge:
  • Travel & Leisure: Airlines (United, Delta), Expedia, cruise lines, and hotels rebounding as government shutdown fears fade.
  • Restaurants & Consumer: Brinker (Chili's), Texas Roadhouse, Chipotle, Starbucks, Darden (Olive Garden) all seeing action as consumer confidence improves.
  • Retail: ON Holdings, Dick’s Sporting Goods, Urban Outfitters, Macy’s, and "despised" Costco could be analyst darlings again.
  • Industrials/Cyclicals: Boeing, GE (aircraft manufacturers) set to break out with reopening optimism.
  • Financials: With greater clarity post-shutdown, IPO and banking activity at Goldman Sachs, Bank of America, JPMorgan, and Wells Fargo is likely to surge.
  • Pharma: Amgen advances in cholesterol drugs; Pfizer bets on weight loss drugs; Lilly’s “trillion dollar door” with new AI-discovered therapies.
• On Current Conditions: The end of the shutdown is a catalyst, as it unleashes pent-up optimism and reignites analyst coverage:
  • “When we see these travel stocks come back to life, you can expect similar gains from the cruise lines and the hotels. There's a whole group of analysts just itching to come out here and cover these stocks.” — Cramer (03:46)

2. Cramer’s Stock Callers — Real-World Q&A

[09:29–11:46]

• Celsius Holdings (Caller: Spencer, 10:09): Wait and see — the severe miss justifies caution, suggesting investors hold off until next quarter.•
  • “That miss was not good. Got to call it like I see it.” — Cramer (10:13)
• Deere & Co. (Caller: Stafford, 10:41): Still a buy; cyclical benefits from subsidies and macro trends.•
  • “No matter what happens in the country, we are a country where farmers get checks…and when you get a check, you buy a Deere.” — Cramer (10:45)

3. Flutter Entertainment CEO Interview — The New Era of Prediction Markets

[13:59–21:43]

• Quarterly Results: Despite soft spots in revenue, earnings beat expectations; 17% overall revenue growth, 44% iGaming growth in the U.S.
  • “We got off to a great start in Q4 as well. We’re very bullish and confident about the future.” — Peter Jackson, Flutter CEO (15:03)
• FanDuel Predicts Launch: Prediction markets (in partnership with CME) debuting, notably accessible in states with restrictive sports betting laws.
  • “Prediction markets are regulated by the CFTC…in all the states where FanDuel does not have a sports betting license…you’ll be able to download the FanDuel Predicts application in December and start using the sports product.” — Jackson (16:44)
• Platform Integration: Initially, the predictions market will be a separate app due to regulatory constraints (18:16).
• Diversification and Scale: The abrupt shutdown of Indian rummy operations highlights global scale as a safety net (19:43).
• Product Roadmap: Combo/Parlay bets for predictions coming soon; users may suggest bet types (21:06).
  • “We’re convinced we’ll have the right ingredients to win in prediction markets in America…we will win like we have in sports betting.” — Jackson (20:30)

4. AMD Analyst Day Recap — Moonshot Targets and Market Realities

[22:54–29:40]

• Why AMD Jumped: Massive analyst day; bullish long-term targets for revenue, margins, and market share.
  • "CEO Lisa Su laid out how how far AMD has come... Overall, AMD expects its revenue to rise at a 35% compound annual growth rate for the next three to five years." — Cramer (24:23)
• Data Center Focus: $200B TAM now, projected $1T by 2030; AMD aiming for 10%+ share.
• Execution Risk: Targets are credible but highly dependent on OpenAI fulfilling commitments.
  • “All of these long term targets are contingent on AMD doing a lot of business with OpenAI starting next year. If you believe OpenAI will honor all of its commitments…The numbers are doable. If you don’t…then…very stretched goals.” — Cramer (28:33)
• Consensus: Lisa Su has earned the benefit of the doubt — investors can still buy AMD (29:00).
• Micron (Caller: Mark, 29:40): High bandwidth memory business is “on fire.” Micron’s run to continue in line with AI/data center momentum.

5. Databricks CEO Ali Ghodsi — Grounded AI, Not Just Hype

[31:29–38:22]

• AI Hype vs. Real Value: Most enterprise AI isn’t about superintelligence—it's about automating “boring” tasks:
  • “What we really need is for the AI to do mundane tasks. Kind of boring AI.” — Ali Ghodsi (31:54)
• “Agent Bricks”: Databricks' focus is making simple operational automations easy, such as extracting and transferring data across systems.
  • “Take the simplest task, automate…the toil so that you can actually do more interesting things…and we’re seeing great results.” — Ghodsi (32:46)
• Real Use Cases: Example: AstraZeneca used Databricks to sift through 400,000 medical records for clinical trials.
• AI Model Training Explained: Takes public AI models and fine-tunes them with sensitive enterprise data, making them useful for real business cases (35:04).
• Ecosystem-Agnostic Platform: Multi-cloud, multi-AI platform; supports OpenAI, Anthropic, Gemini, and others, making it attractive for diverse enterprise needs (35:56).
• Data Rights & Training Debate: Acknowledges ongoing industry debate over scraping and proper payment rights for AI training.
• IPO Prospects: Databricks will eventually go public, but individuals may access via Robinhood Ventures in the meantime (38:02).

6. Lightning Round Highlights

[39:00–42:05]

• Doximity (Caller Mark): Too expensive—hold off.
• IronNet: “Press release stock,” take profits, sell at least half.
• Boise Cascade: Housing exposure makes it risky until Fed rate cuts happen; “prefer a major big box home company.”
• Q2 Holdings: CEO Brad Jacobs praised for adaptability, but roofing is a tough market.
• Notable Lightning Round Quote:
  • “Sell half of it…you'll never regret it!” — Cramer on IronNet (40:07)

7. The Art of Selling — When to Ring the Register

[42:34–47:48]

• Why You Don’t Sell:
  • Unpleasant taxes, breaking compounding, "trading is a sucker bet unless you’re doing it full time.”
• But the Only Real Reason to Sell:
  • “You sell because you want to lock in your profits. After all, you don’t have a gain until you take something off the table….” (43:20)
• Cautions Against “Magical Investing”:
  • Chastens against holding paper gains in unprofitable companies just because they're up; history shows this ends badly.
• Insider Selling = Red Flag:
  • Automatic 10B1 plans still mean insiders are locking in gains.
  • “A sale is a sale and don’t you forget it.” (43:54)
• Better Alternatives:
  • For quantum, IBM is now commercially selling quantum.
  • Safer nuclear bets via Honeywell’s Solstice spin-off and established industrials.
• Key Closer:
  • “You only need to get rich once, people. But you can't get rich until you ring the register.” — Cramer (43:45)

Notable Quotes & Memorable Moments

• Market Resilience:
  “Buy, buy, buy, buy. Instead of everything being dragged down by tech, we got a market that defies the bears and has come up with a ton of under could catch fire.” — Cramer (02:48)

• Flutter CEO on New Markets:
  “Prediction markets are regulated by the CFTC... customers in the half of America who can’t currently access the FanDuel Sportsbook can now access this.” — Peter Jackson (16:44)

• AMD’s Big Target:
  “Data center AI revenue will rise at an 80% plus compound annual growth rate, with the total data center business growing at a 60% clip... management had some great things to say about profitability.” — Cramer (25:30)

• Databricks CEO on AI Hype:
  “What we really need is for the AI to do mundane tasks. Kind of boring AI.” — Ali Ghodsi (31:54)

• Cramer’s Investing Wisdom:
  “You only need to get rich once, people. But you can’t get rich until you ring the register.” — Cramer (43:45)

Timestamped Highlights

• [01:54] Market leadership rotates out of AI/data center tech
• [03:46] Travel, airlines, cruise, and hotels poised to rebound post-shutdown
• [07:00] Retail and restaurant revival as consumer confidence returns
• [09:29] Callers: Cramer on Celsius and Deere stocks
• [13:59] Flutter CEO Peter Jackson on prediction markets in the US
• [18:16] Explanation of app separation for FanDuel Predicts
• [22:54] AMD Analyst Day reaction — why the market is euphoric
• [29:40] Micron talk: AI tailwinds support further run
• [31:29] Databricks CEO Ali Ghodsi on automating mundane tasks with AI
• [39:00] Lightning Round: Doximity, IronNet, Boise Cascade, Q2 Holdings
• [42:34] Cramer’s advice on when to sell stock and avoid magical thinking

Overall Tone

Jim Cramer is, as ever, energetic, confident, and didactic, mixing sharp market analysis with humor and practical, experience-driven advice. He’s optimistic but realistic, intent on steering listeners clear of the dangers of hype and the pitfalls of greed — relentlessly focused on helping his viewers make and actually keep their money.

For full analysis and all the calls, catch the full episode at madmoney.cnbc.com