← Mad Money w/ Jim Cramer
Mad Money w/ Jim Cramer
'Mad Money w/ Jim Cramer 5/26/26
00:44:11
Listen to Jim Cramer’s personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind - to help you make money. Mad Money Disclaimer
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My mission is simple to make you money. I'm here to level the playing field for all investors. There's always a bull market somewhere and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Creamer. My friends, I'm just trying to make you some money. My job is not just entertainment but to educate you. So call me 1-800-7-3 CBC tweet me at Jim Cramer Mike Rod welcome to the trillion dollar club. You make the best high bandwidth memory chips, the kind that go into the data center. No wonder its market cap touched $1 trillion today, up more than 200% so far this year, including a 19% gain just today. On a very bullish research note about its 4 year Micron is now the 10th largest company in America, part of the most emotional, exciting bull market in history. Although not that much. Today in doubt dipped 118 point, but the S&P advanced.61% and then as that filled with semiconductors gained 1.19%. Microns, one of many semiconductor companies that have been knocking on the trillion dollar door. It caught fire this time because memory was always a boom and bust business. But this time the boom seems unrelenting. It's run by the contemplative Sanjay Mehrotra, no stranger to our show. Of course, he's self effacing and low key. I know I've been far more promotional than he has about Micron's prospects. In the end, it's been a monumental transformation which is why some analysts say Micron still cheap at these prices. And there's a rigorous case to be made that that's true. Look, it's not easy breaking into this trillion dollar club. Why don't we do this? Let's look at the other 10 members. So you know, let's start with the world's largest company. And that is yes in video. It reported a fabulous quarter last week, yet its stock went down anyway. The king has indeed begun to underperform when it reports it's traded lower on earnings the last four quarters. Magic. But then it performed strongly intra quarter although in a red hot semiconductor market. Nvidia's own only up 15% for the year. It's got the best AI technology. That's no longer enough. I believe the company needs to pivot its cash management strategy more toward act Apple under previous CFO Luca Maestrich where it bought back a huge amount of stock while boosting its dividend consistently. Back then Apple shrank its share count by a third. Now Nvidia may be on that path already. They announced a 25 cent dividend. That's 25 times their previous one and it's a quarterly dividend. And they added $80 billion to its buyback authorization. I think they may need to say that this is the new normal otherwise they might not be able to attract enough new buyers. And it should also trim some of the biggest winners in its stock portfolio for additional firepower. Worst case scenario, if all the major accounts already own Nvidia stock, that's what I keep hearing, then the company ends up buying it by itself. I think that is a fabulous use of capital. Next member of the club, Alphabet. Oh, there's a lot to like here. YouTube, the largest video company in the world, way more than everyone. Self driving car it searched including Google and Gemini and Google Cloud which is the best horse that I want to bet on. Multiple revenue streams, higher price. Look out Nvidia 3rd Apple. Okay, it's got the best hardware. It's now snared one of the best AI platforms with Gemini, the logical extension of Google which pays Apple a fortune by the way to be the marquee search product. Now Apple was thought to be behind in AI. Let me ask you for all the stuff that you read in the papers, did you ever switch your handset to another company because of that? Of course not. Now they have a very smart Siri that's getting smarter and smarter. Nothing comes out of Apple message, you're perfect. Lately that's been paying off with an ever higher stock price and a lot of acclaim. Now here's a tough one. The softy Microsoft that's Trivic cloud business. But it's weighed down by enterprise software and Wall street disdains its AI product copilot. So then why does my charitable trust still own it? Did I go to college to get stupid? Hardly. Because we simply cannot believe that Microsoft won't fix things. It is so much money is so many smart people. I have to believe they can figure it out. If they can't, then the stock will have to go. Something we will discuss tomorrow at our noon call for CNBC Investing club. Hey by the way, I hope you join us. The club's got this great four buck deal. It stands till tomorrow afternoon. Will you just join number 5Amazon misunderstood even by me. Now I become a. You know I'm a huge believer this one. They've been cleaning up with prime with Amazon web services, with advertising and now with semiconductors which could be a $50 billion standalone business. Thank you Andy Jassy CEO for explaining to me. Now last week I said that Amazon's own chips don't hold their value unlike a video. I got that wrong. The new chips actually most certainly will hold their value for several years. Pretty similar to videos but for a lower price. Got to point it out. I think that's one reason why Nvidia stock is actually stalled while Amazon stock has been going ever higher. 6 Is Broadcom now this is Sleeper because you don't see its name anywhere. It makes custom chips for Google mad at bytedance Anthropic which buys Google's chips too. Broadcom also has its own enterprise software business called VMware Gateway to the Cloud among other things. CEO Hakan is a shrewd businessman who constantly get new clients. He's a big reason why we've stuck with Broadcom thick and thin for the travel trust wrecking up some big gains. Seven is Tesla. When we think of Tesla we think of cars but really should be thinking about a self driving vehicles and robots which will be the big growth engines. Lots of people think that Elon Musk will merge this company with the soon to come public Space X where he has a dual class structure that would allow him to break away from the noisome unhappy Tesla shareholder base. I don't blame if he does it next two companies need to worry about keeping their trillionaire status and staying in the top 10. There's metal platforms in Berkshire Hathaway now we just aren't sure that is doing beyond what it's doing Facebook, Instagram, eyeglasses, I WhatsApp. Now that's actually a pretty powerful suite of products. Not saying that, but the company has not excelled in a visible way, at least not in a way that makes matter seem like it's printing money the way it used to. We know they're spending on a lot of talent. We know that they've been able to pull multiple rabbits out of a multiple hats. But we're in a what have you done for lately business and the answer here is nada. Hey, pulling up the rear is an insurance and reinsurance company with a very solid leader was a lot of other good properties, much in oil and gas and a railroad. That is the last what Berkshire Hathaway really comes down to. Now that Warren Buffett has stepped down, people are going to get bored with owning this stock and the only thing is really going to keep them in there is that they don't want to pay the capital gains tax when they bring the register. That's what you have to do. I like the mosaic of businesses, but a lot of people are in this stock because they believe in Buffett. So they might actually want to retire along with him. Finally, 11th largest US company holy cow. Is smaller than Micron, but still just over 1 trillion. Eli Lilly, the drug maker had seen huge growth in scale in recent years because of the strength of the GOP Dash 1 drugs for diabetes and weight loss. But as good as it's been, the Lilly story somehow continues to improve. Last week we learned that it's got this new weight loss drug. It's called Red to Tide Retit, which was very effective in phase three trials, seems to be able to bust fat, not muscle, although that's not what the company is hailing or claiming. And over the weekend, a separate gene therapy treatments show great data when it comes to reducing cholesterol. Now there's a reason this is the only health care company to earn $1 trillion valuation. Brilliant Management. Now I left out the foreign stocks but let me mention them if you want to think about the whole world. I'll help. I'll help you realize something is controlling much of the move here. Now Saudi Arab goes number eight on the broader list. All right. But Taiwan semis fifth. Samsung is number 11. SK Hynix number 15. Taiwan semi Samsung are all semiconductor plays pleasure like Micron, like Nvidia, like Procon, it like Amazon now. But in the world of AI, Wall Street's fallen in love with hardware just like software like the One Stock the once red hot stock of Zscaler which disappointed this furry evening. Meanwhile, we've got three big IPOs coming this year that could potentially join the club right out of the gate. There's SpaceX, anthropic and open air. More on SpaceX later. What's the real takeaw here? The bottom line is that we're on the verge of a new era where I think the Trillion Dollar Club may be a heck of a lot easier to join than in the old days when the club excluded the riff raft. I changed the order of things. No, it's not being debased. It's just becoming more inclusive, as it should be. Robert. New York Robert. Jim. Jim, I have some very good news that today I joined the investment club. I went to CNBC.com and I and I don't have to because I have access to you on the phone. I But you got to have constant access to Jim Cramer because this guy has picked. I joined@cnbc.com they have a great special Everybody in America's got to get. Holy cow. Robert. Robert from New York is like, how much does it. We do not pay Robert. No, no, not any. Right? How much any pay? Nobody pays him. Zero. I love speaking with you, Jim, and I love having time. Thank you. Anyway, let's make money together. Next company is one of the biggest home builders in the country. They focus on luxury residential properties, including single family homes, upscale condos and active adult communities. I still own it. I think it's a solid company. I'm not, you know, crazy right now with the interest rates. Toll Brothers. Oh my God. Did you, did you see Doug Yearley, executive chairman on last week? Man, he's got it all figured out. I think he's doing a terrific job. You know, I'm not done taking questions, although they can't be as effusive as Robert was. Actually, I am done. And we're really effusive as Robert is. All right. I think Micron's entrance into the the Trillion Dollar Club is the sign of the new era we're in because I has changed the old order of things. Today, Space X you ask. I delivered, set to come public next month. I'm breaking down everything you need to know about the company, starting with its financials. Then I'll do a deep dive into Space X's growth opportunities before I share where I come down on the company ahead of its IPO. And Bridge just named the CMC Disruptor 50 list for the second year in a row. I'm learning more about what the company has to offer from its CEO and I hope your doctor uses it. I want you to stay with Kramer Foreign.
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Don't miss a second of Mad Money. Follow imKramer on X. Have a question? Tweet Kramer hashtag madmentions. Send Jim an email to madmoneynbc.com or give us a call at 1-800-743, CNBC. Miss something? Head to madmoney.cnbc.com say you always wanted to have a backyard oasis. Here's the thing. If you get smart with your money, you can do things like that. With Empower, you can start making the most out of your money so you can go out and live a little. Isn't that why we work so hard to have some fun with our money, like treating yourself to something special or spontaneously doing something extra for a loved one. So use Empower and get good at money so you can be a little bad. Join their 19 million customers today at empower.com, not an empower client, paid or sponsored. When you're a kid, adults always warn you about this stage of life. Backaches, skin changes, going to bed at 9pm and we all think that could never be me until you have to catch your breath and sit around to pick up basketball. But it's not you. It's your testosterone levels declining with age, inhibited by those dang SHBG proteins. Marsman is on your team with a formula to support testosterone availability using ingredients Tonga Dali, Shilajit, vitamin D, zinc, boron and no synthetic hormones. Combined with daily habits, Mars men experience more consistent energy and improved focus and performance. That could be you with a 90 day money back guarantee for a limited time you can get 50% off for life plus free shipping and three free gifts at Mengo2Mars.com that's MengotoMars.com for 50% off and three free gifts when you check out and it's also available on Amazon and when when they ask who sent you, don't forget to mention this podcast.
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Last week we got our hands on the SpaceX IPO prospectus and it's important read with the rocket and satellite company looking to come public in a little over two weeks June 12th I've told you repeatedly that I'm worried about the mega deals on the Horizon, SpaceX as well as OpenAI and Anthropic, any one of which would previously have been the largest IPO in history would certainly put these companies within the top 10 I just talked about. My main fear is that they will suck all of the money out of the rest of the market, causing weakness throughout. But in the end, these companies deserve to be judged on the merits and that's why tonight I want to go over Space X financials. Then after the break, I'm going to zoom out and give you the big picture bull thesis that's got Wall street so excited about this one. Full disclosure, the numbers here are not very impressive, especially when you consider the kind of valuation this company is already getting. Space X has gotten complicated over the years. In addition to the rocket business, they've got Starlink for satellite Internet and Elon Musk AI Platform X AI, which also owns the social network formerly known as Twitter. SpaceX's revenue has grown from 10.4 billion in 2023 to 14.0 billion in 2024 to 18.7 billion last year. In the first quarter this year it's posted just 15.4% revenue growth though, and that's a major deceleration from last year. That's not much revenue for a company that's eyeing a $2 trillion market capitalization. Or even if people go nuts for this one, it's still difficult to get there. If you just look at the last 12 months, SpaceX sales fall somewhere between in between Dollar Tree, that's an $18 billion company and Ameriprise Financial of $41 billion company at $2 trillion. SpaceX will be trading at roughly 100 times trailing 12 month sales, which is crazy expensive even as a lot less prosaic than the two companies I just mentioned. Then there's the question of profitability. Using the strictest gap numbers, Space X is currently losing money. They had an operating loss of 1.9 billion in the first quarter and net loss of $4.3 billion. However, using the more charitable earnings before interest taxes depreciation amortization numbers, which is standard for a capital intensive business like Space X, then you get a better story. This company is putting up tremendous EBITDA growth for the last few years, but in the first quarter of this year this profitability metric was down nearly 35% versus the previous year. Of course this is an inherently lumpy business it's made some big acquisitions, so it's really hard to tell how much we should read into the recent EBITDA shrinkage. What else? Even though Space X has a pretty clean balance sheet, one that should be pristine after it raises 60 to 80 billion dollars in the IPO, it's also burning cash like a drunken sailor. The company's free cash flow is going from slightly positive in 2023 to down 5.4 billion in 2024 to down 14 billion last year. And in the first quarter, their free cash flow came in at negative 9.1 billion. That is downright hideous. Certainly going in the wrong direction. Why? Because Space X is investing heavily in infrastructure and its starship launch program. The real question is whether those investments are worth the cost. So let's do this. Let's take each part of the business separately. The space division is Space X's bread and butter, basically using reusable rockets to offer for higher launches to both the government and to the private sector. The connectivity business is Starlink. Think satellite Internet service, available even in the most remote locations on Earth. Finally, the last business segment is AI, which includes X AI's compute infrastructure as well as the company's AI model Grok, and of course X, the platform formerly known as Twitter. The space segment has been able to steadily grow its mass to orbit over the past couple of years. That's the amount of weight it's physically bringing into space. Last year, SpaceX represented 80% of global mass to orbit transportation, and it's still growing steadily. Very positive. There are two things that we're watching for the space business. First, its revenue growth seems to be slowing a bit. For the last few years, it's grown at a high single digit clip. And in the first quarter of this year it was down 28%. Again, this is a lumpy business. Second, the space division has taken a turn for the worse in terms of profitability. Their EBITDA was nearly cut in half last year, and it came in negative during the first quarter of 2026, thanks to the cost of their starship program test flights. Next, there's Starlink. Okay, now this is by far the most attractive part of the Space X mosaic, at least at the moment. The number of Starlink subscribers has more than quadrupled just since 2023. Connectivity revenue was up 50, 50% last year, and in the first quarter of this year it was up 32%. That's all from subscriber growth. Most importantly, the profits from the connectivity segment have steadily grown, including 29% EBITDA growth in the latest quarter. While that's a slowdown from last year's 86% clip, it's still pretty impressive. Starlink's the engine that powers all of Space X, as the company invests heavily in AI and space exploration. You could argue that when you buy Space X, and this is really important, you got to know this. You're getting Starlink and then a bunch of money losers that may or may not pay off in the future. I'm trying to be stark here. I'm trying to be really clinical. Finally, speaking of money losers, there's the AI segment. Right now, it's a money pit. Space x did get $3.2 billion in revenue from the AI business in 2025, up 22% year over year. And it had 13% revenue growth in the first quarter, nearly all of which is either from selling ads on X or selling subscriptions. But the bigger story is that the losses have ballooned for X A I like everyone else in the industry, they've been spending heavily on data centers, and that's put a real dent in the numbers. Of course, Elon Musk views the business as the vast majority of SpaceX's future total addressable market, or TAM, so presumably he's happy to make these investments. But man, for the time being, this proven to be a very expensive endeavor. By the way, in its IPO prospectus, Space X does break out its capital expenditures across its three divisions. Okay, their total capital expenditure has gone from 4.4 billion in 2023 to 20.7 billion last year and 10.1 billion just the first quarter alone. Now, that's mostly from the starship project in the space business, and especially the investments at X AI. In the first quarter, their AI spending more than tripled year over year to 7.7 billion. Expensive. Like everybody else. That, in more detail, is probably more than you ever wanted. But you must know if you're going to put in for the deal. It's the basic financial overview for SpaceX. You must know this, at least it's what the business looks like right now. And if you haven't picked up on this point, I'll say it explicitly purely from the numbers. It's very difficult to justify giving space X a $2 trillion valuation. But the bottom line is that people have been willing to pay up in the private markets, and I bet they'll pay up in the public funds. Why? Stick around after the break and I'll explain the rest of the SpaceX story, the part that can't be captured by the four walls of the spreadsheet canvas, the part that can justify the sizzle, if not the stake of the offering. Mad Money is back after the break.
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Coming up, Kramer's continuing his breakdown of SpaceX's IPO prospectus and searching for the good news to encourage potential investors. Next,
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who was staring back at me in
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betrayal or more like what, my insurance bill. With trembling hands, I grabbed my phone and switched to geico, saving about $900 in the process and never to be betrayed again. Now that was bloody riveting.
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It feels good when the story ends with savings, it feels good to Geico,
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Before the break, I dug into the SpaceX IPO prospectus look by any stretch of the imagination, very hard to justify $2 trillion valuation for a money losing company with decent growth. Yet people are incredibly excited about this thing. Something it could be worth even more than that. And for the good reasons I am about to give give. You see, there's more than just the numbers. In this perspective, Space X is an Elon Musk vehicle. And that means it's all about the story about a vision for the future. If you believe in that vision. $2 trillion. It doesn't seem that unreasonable. From the very start, Space X lists its mission as building quote the systems and technologies necessary to make life multi planetary. End quote. So you can see, this document is one of great optimism. They even included a chart that talked about a 28.5 trillion total addressable market. Although as critics pointed out, that's nearly the size of the entire US GDP last year. Now, I don't want to get into the details too thick though, because that's almost beside the point with this one. Long story short, SpaceX believes it can make a fortune as long as it keeps investing mainly in artificial intelligence. The prospectus lists a ton of different long term great growth opportunities in space and Starlink in AI, where they're talking about deploying data centers in space where solar energy can create a real edge over terrestrial data centers with huge power demands. But I'm more interested in their near term plans. There are three in particular that makes Space X relatively enticing right now. First, let's talk about the Starship program, which is Space X's effort to create a much larger reusable rocket than their current product line. The idea is that this thing will be able to deliver 100 metric tons to Earth's orbit and then come right back down. That's nearly double their heaviest existing rocket, and management believes they can get to 200 metric tons in the not too distant future. Hey, they just did the 12th test for Starship last Friday, one that hit most of its targets. The plan is that these will go into operation sometime in the second half of the year. SpaceX can really make that deadline. That'll be a major boon for their slowing space division. The second near term growth opportunity mentioned the prospectus is Space X's recently announced deal to lease some of its Nvidia powered data center capacity in Memphis to Anthropic. Apparently Anthropic's agreed to pay space x 1.25 billion billion per month through May of 2029 for the right to use its compute, with capacity ramping in May and June for reduced fee. In other words, Space X, a segment which had $3.2 billion in revenue last year, could see an incremental $15 billion in revenue per year starting almost immediately. SpaceX also said that they quote, expect to enter to additional similar services contracts, end quote. All of this amounts to a new hyperscaler like business for Space, similar to Amazon Web Services and Google Cloud. This Anthropic deal alone dramatically changes the economics of the AI division, transforming from a money pit to a money maker. The third near term effort that we got more details on the perspectives of Space X's deal with Cursor. That's an AI startup that lets clients write software code through simple text prompts. It's kind of similar to Claude code, or you might have heard of OpenAI's Codex. In late April, SpaceX and Cursor announced a deal to work together with Cursor, giving Space X the right to acquire them for $60 billion in stock. Or they could simply pay $10 billion in case SpaceX decides not to pull the trigger. The main part of the agreement is that Space X will, quote, provide Cursor with certain GPU cluster compute capacity and collaborate to improve existing models including rock, and potentially jointly develop AI models and rel related model specific deliverables or products. End quote. So basically SpaceX gives cursor compute and in return it gets to use Cursor's technology to improve Grok and doesn't create other AI products. Together we'll probably know whether Space X wants to go ahead with the acquisition the next month or two. Now how would that change the story? Well, Curse is a very well regarded company. In addition, Cursor would boost XI status Amongst the leading AI labs, which really matters of course. $60 billion, not exactly a small chunk of change. It would be an all stock deal though, meaning it wouldn't hurt Space X's cash balances. But existing shareholders would indeed be diluted and then the business would absorb whatever Cursor's financials look like. As with the anthropic deal, that should help the segment's revenue, but we have to assume the Cursor is also a long way from profitability. Obviously there is much, much more in Space X's IPO perspectives than I've been able to cover, even in two segments. There are more details on ambitious projects that the company has in the works, like a couple of projects that SpaceX is doing with Elon Musk's other company, Tesla. There are key details about things like the lockup on insider selling which could significantly impact how the stock trades in its first several months, and critical details about control of the company. Long story short, musk grip on SpaceX is ironclad thanks to its 94% ownership position in the company's Class B shares, which have 10 votes per share. But we'll have plenty of time to dig into the rest of the story as we get closer to the IPO and learn more about the deal's pricing. For now, I just hope that you have a much better understanding of what the Space X business looks like and what some of the top near term growth opportunities might be. Look, overall I think the SpaceX prospectus is a bit of a Rorschach test. There will be some staid value investors who put their pencils down after going through the current numbers and decide this business just isn't for them. There will be other more optimistic, less detail oriented investors who don't need to look at anything more than the total addressable market chart. And here are things like quote data centers in Space and quote and asteroid mining to know that they're buying this stock no matter what the price looks like. I don't know much about asteroid mining, but I do think Musk will be eventually be able to send data centers into space if he wants to. I just don't know what happens if something goes wrong. Very expensive do repairs in orbit right at the same time I bet there's a whole contingent of Musk's most fervent believers who swap out of Tesla into the superior Space X once they have the chance. Most investors are going to fall somewhere between these two camps, which is a reasonable place to be, frankly. Here's the bottom line. Historically it's rarely paid to bet against Elon Musk. But at the same time Space X is far from perfect. And the stocks almost certainly going to be expensive. Even if you want to own it, you might not want to buy it right away. But then again that depends on where they price the deal. Either way it'll have a huge impact on the rest of the market. Which is why I'll keep following Space X so closely. And if you do decide to try to get some stocks stock it might pay to put a limit order on your no matter what. Okay, whatever price equates to $2 trillion market cap as I simply can't justify paying any more than that without new information that changes the company's near term prospects. Let's take calls. Let's go to Pete in Georgia. Pete. Jim. How are you sir? I am good, Pete. How you doing? I'm doing well down here in Atlanta. Pretty sizable investment in Nvidia, but I'm five years to retirement.
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I'm just wondering if Nvidia has become
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a compounder and outside of that would you look at Arista, Broadcom or Micron? Which of course popped today. Micron. Micron, big spike arrested. Not sure about how their near term prospects are going to be. Broadcom we own for the Chapel Trust. We talk about that tomorrow at our at our noon meeting. I would say this in video currently is not reflecting the strength of of the company. It just didn't have the kind of oomph that I thought the stock didn't that the quarter actually had. I know that if you go, I don't know, you may not be a member of the club. I really went at length about what Nvidia must do to get the stock price up. But that's certainly not the goal. It's to get the business strong and they're doing a great job of that. Right. Look Space X will definitely be an expensive stock when it comes public next month, but it's really paid the best against Elon Musk has it now there's much more money, including my sit down with a company called A Bridge. There's private players using AI to empower health care providers. Finding out more about the company's mission and its prospects from the CEO. And it might be easy to cast aspersions on the data center build out. But is is there more to this story than just the headlines that all seem so negative? I'll break it all down, you doomers and all your calls rapid fire in tonight's edition of the Lightning Round. So stay with Kramer. Sometimes you need to check in on the private companies. You're shaking up entire industries. Take A Bridge, which is a medical AI company. Now their platform acts kind of like a sonographer, keeping track of conversations between you and your doctor, then doing the necessary paperwork. That's a bare bones. We got much more here. Basically the goal is to make it so doctors and nurses are wasting less time on clinical work, more time on you, the patient. It's a good pitch, which is why A Bridge has managed to raise $830 million and reach a private market value of 5.3 billion right now. It's also clocked in at number 30 on CNBC's annual Disruptor 50 list. But you know, we like to talk about a lot here. So what does the future of this industry look like? Let's take a closer look with Dr. Shiv Rao. He's the co founder and CEO of a bridge. To learn more. Dr. Rao, welcome to Mad Money.
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Thanks so much. I mean, such a privilege to be.
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It's great to have. You know, Shiv, I hope that you can first just give a big overview because I think a lot of people wanted. Not just the people who watch the movie the Pit, but the show the Pit. But a lot of people want to know exactly what you guys do because it's a little harder to understand than just say, hey, listen, you're a stenographer. Because I didn't want to leave it at that. So the floor is yours.
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Yeah, absolutely. Thank you. Really. Our core thesis at Abridge is that we think healthcare is about people. It's about professionals like doctors and nurses. And it's also about, most importantly, it's about patients, all of us. And what we want to do is use technology, use AI to bring those people closer together. There are so many different distractions, so much clerical work that gets in the way. And if we can bring them closer together by unburdening clinicians like me. I'm a practicing cardiologist from all the clerical work that crushes my soul at night so that I can just fully focus on the person in front of me to deliver the best possible experience, to deliver the best possible outcome. It's a win for everyone.
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Well, tell me what the. What your bridge hears and then what does it translate it to? Because I'd be worried that it's just. Well, it is just a word for word. Doesn't really give me any insight.
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Yeah, absolutely. So just to give you a sense of kind of where things have been and now where things are with the bridge. It used to be that I'd walk in a room and, you know, before I walk in that room to talk to that patient, I'd maybe like prep the night before, but maybe take some notes to understand who this person is, what are their issues. That I can feel that much more equipped when I actually walk in. Then I'd walk in the room and we'd have all kinds of chit chat. I think that's what you're referring to. Maybe we talk about the sports games over the weekend. Maybe we talk about our families. And maybe, you know, in those in between moments, we're talking about chronic diseases, we're talking about, you know, all the really important medical stuff. And then afterwards, what I would have to do as the doctor, I'd have to write the notes, I'd have to place the orders, I'd have to do billing and what they call coding, medical coding. It's like accounting. I do have to do all kinds of work that I never went to medical school to learn how to do. And so what a bridge allows clinicians to do is walk in the room and already feel like a superhero and what questions they need to ask because we can kind of give them this cheat sheet, this digest about who this patient is. Then during the conversation, we don't interrupt them. We don't have any flashing lights or beeping sounds. You can be fully present, you can make eye contact, and you can have that chit chat, resting assured that at the end of the visit, we're going to create all of those artifacts, we're going to do all of that clerical work for you. We're even going to help you make better decisions by helping you understand the latest evidence related to, you know, the specific diagnostic or therapeutic treatment you were thinking about.
- [34:55]
B
It makes a lot of sense. My general practitioner is a fall by name of Dr. Lapu. Jonathan Lapuk and we spend a lot of time together. And I've been a big supporter of the Empathy project. It sounds like with a bridge, I would have more time to be empathetic and less time checking my watch and writing stuff down. Making more eye contact with my patient and really understanding what the person's saying. Can this make a difference so that people, doctors are more empathetic?
- [35:25]
C
100%. And we're seeing that actually in the data already. The University of Chicago, for example, published this study that demonstrated that against a certain metric called an HCAHP score. It's a. It's a score that measured measures patient experience, that those scores went up. On the other side of deploying this technology, I think all of us want to make more eye contact. We want to be more present with each other. And this technology, when you point it at the right problems, can actually help industries like health care feel more human. You know, we have a mantra in our company that we want to save time, we want to save money, and we want to save lives.
- [36:00]
B
Okay.
- [36:00]
C
And if you reflect on.
- [36:02]
B
Yeah, well, I just wanted to point out that, that Jensen Wong, whom we have listened to many times and talk to, really believes in exactly what you're describing with doctors. And I'm really glad that he is an investor, I believe in videos, is an investor, because there aren't as many advances as we would like to see in AI that we think are terrific. And we look to him for his investments. And it sounds like he's found a friend and colleague with you.
- [36:29]
C
100%. And this is an advancement that's touching many of us already. We're live, A bridge is live across well over 300 of the largest health systems now. And we're going to be touching, you know, well over 100 million patients over this next 12 months. And so that's a lot of scale. That's a lot of impact. But when you think about the impact, also on the professional side of the room, there was a. There was an article that was published a few years ago in the American Journal of General Internal Medicine, and it suggested that doctors need 30 hours a day to get all of their work done. But they also parsed all the tasks, all the jobs that sort of took into, you know, made up that 30 hours. And for us, that's a lot of our roadmap right now. What can we do to help clinicians really operate at the. The top of license, as they say in our industry, so that they can be delivering not just the best experiences, but also the best Clinical and financial outcomes.
- [37:20]
B
Okay, one last question. I know that in this industry these days with AI, there are a lot of frenemies, a lot of companies going at an anthropic OpenAI. We know Epic as a company that's very powerful in your business. And I know you were, I guess, had a relationship with epic, may not have one now. How do you negotiate with Epic being that they are such a behemoth in your industry?
- [37:43]
C
We've had a strong relationship with EPIC over these last years. We partner with them, we integrate with epic. So essentially, when we go live with a large health system that happens to use EPIC as their electronic medical record system, we need to be able to pull data and we need to be able to push data back in. And we absolutely have that ability. And it's not going any anywhere anytime soon. I would say in general, across a lot of the different vertical industries, there's so much opportunity with this technology. And what's been wildly exciting over these last years, especially in health care, is that we're seeing a lot of different entities see this as a positive sum sort of opportunity to connect dots that they might not have thought to connect before. So for example, we're partnering not just with health systems, not just with systems of record and electron medical records. We're also partnering with systems of record on the insurance company side, systems of record on the life sciences and pharmaceutical companies side. But for us it's all about at the end of the day, what kind of value are we creating. And if we're improving the experience, if we're improving the outcome over the long term, we know, you know, we're on the side that's ultimately absolutely going to have to win.
- [38:48]
B
Well, I think that's terrific. And again, you're on a disruptor 50, number 30 and it's Dr. Ship, Ralph Ship. Thanks for coming on the show and explaining because I think that this is the kind of thing I feel like asking my doctor, doctor, are you on a bridge? Because then I know that they are present and I always want my doctor to be present mentally. Thank you so much for coming on the show. Good to meet you.
- [39:09]
C
Thank you so much, Jim. Really, it's a privilege.
- [39:11]
B
This is this Chip Brown. He's the co founder and the CEO of Abridged. That's number 30 on CNBC's Disruptor list. You can see the full list at cnbc.com disruptor50. I am fascinated by this. Having been someone who spent a huge amount of of time with doctors on the empathy project, this Sounds like they can be much more empathetic. That's what I care about, man. Money's back at the
- [39:34]
A
coming up. He's the fastest mind on Wall street so we're putting him to the test with your help. Bring on the lightning round next.
- [39:53]
B
It is time. It's time for the light round clips of Rap Crossroads. Always saving the stock. Bye bye. Sells and sells. Just forget another core stock question. My stepparents are grabbing. You plan the sound and then the lightning round is over. Are you ready? Speed dad Ton Light round Creators of Mindset with Brendan and Rhod Allen. Brendan, hi Kramer. So this company recently de spacked and
- [40:12]
C
I want to know more about it. It's boost run.
- [40:15]
B
Man, this thing's such a hot stop. You know what? Look, if you're willing to speculate, I'm willing to bless it. My problem of course the reason why I'm not against it actually makes money. The reason why I'm not for it is because I feel like we're late. Okay, right in the middle. Let's go to Minnie in North Carolina. Minnie. Hi Jim, this is Minnie calling from Concord, North Carolina. How are you? I am doing fine, thank you for calling. What's going on? Hey, I want to thank you and
- [40:41]
C
your team for educating us for over 20 years. I'm a first time call, longtime follower
- [40:46]
B
and recent club member. Hey Jim, I invested in this stock
- [40:51]
C
and I am currently down 30%. Patiently waiting on everybody.
- [40:56]
B
Would you qualify this stock under the
- [40:58]
C
owners don't trade a bucket. I'm calling about doordash.
- [41:02]
B
Okay, I think Doordash is a buy. There's a real group of stocks now. Uber, Doordash, Reddit, they are going down. People want to own hardware. They don't want to own those others. They don't want to own Z scale, they don't want on semiconductors. I mean they want to down and so for this one, semi only semi. And that's what's hurting Doordash, that's what they want is semi, not doordash. Let's go to Irvin in Washington. Irvin, hello from Seattle where we're having
- [41:27]
C
an unusually clear day.
- [41:29]
B
My question is about let us holdings. This stock is in free fall. That makes no sense to me. I think it does a lot of good security stuff. Stuff. But that's what happens. It doesn't have any sponsorship. I say bye now. Let's go to Joe in Florida. Joe, Jim, thanks for your. I'm an original club member. Thanks for your information, your sense of humor. It's been great. Oh, thank you, buddy. I got flex with 100. You know, I look at Flex, I look at Flex and I think, geez, these guys are so good. This is a perfect example of of what could still go up another 50% without a problem. I'm not going to fight you on it. I say bye. Let's go to Zach in Florida. Zach, Booyah. Jim, how you doing? I am doing well. Zach, how about you? Doing great.
- [42:18]
C
Been watching the show since I was
- [42:19]
B
a kid with my dad. So thank you and shout out to you. That's terrific. Thank you. I appreciate that. Thank you. So weekly mortgage applications down 2.3% and mortgage rates the higher as they've been in over a year. Are you buying into this 5% pop in Pulte or go ahead? I'm sorry, what stock? Okay, look, I like Toll because they have so many cash buyers. They have more than 20% cash buyers and they don't need a mortgage. Many people don't need a mortgage, which is really incredible. That's why I think that stock is the one to buy if you're going to buy a homebuilder. And that. Ladies, gentlemen, conclusion of the Ligand round.
- [42:59]
A
The Lightning round is sponsored by Charles Schwab. Coming up, Kramer's done with the media's attacks on the data center development and now he's set to sound off next. Tomorrow. Kick off the trading day with Squawk on the street live from post nine at the nyse.
- [43:27]
B
I'm telling you what I'm hearing.
- [43:29]
C
You don't want to hear it, that's fine.
- [43:31]
B
You can keep your ears closed. You have every right to talk. It's one of you. It's your show too.
- [43:39]
A
I've never wanted to hug you so much.
- [43:41]
B
Who wants to know? You know, someone in my ear is saying, gotta go. I gotta make that point. David has every right to talk.
- [43:45]
C
It's my show too, Carl.
- [43:47]
A
It all starts at 9am Eastern.
- [43:50]
B
Foreign. Is and I think back to the old days when I was a reporter because it explains everything about the media. Negativity sells paper. So if you want to succeed, you need to please your readers and you don't do that with positivity. I was real good at it because I was a newsroom mendicant probably more than others. I never forgot what would move me up right now. If I were on the city desk, I'd be writing negative things about the data center, the focus. They rip us off by using our resources, pushing up our electric rates and they don't even hire many people after they're done being built. I get a quote from whoever was building it. Amazon or Google. Corey. It would be perfunctory, just the way I wanted it. Just enough to say I tried the other side. I start the piece with a family or a person, typically lower middle class, who's most aggrieved. Find someone with a sympathetic case to frame the story. No sense. Just start with the facts. That doesn't grab anyone. Then I would throw a real parade of negatives right down the above obligatory quote from the offending company. Then I handed the desk to General Claim, which led to the story running on the fabled upper left corner of the front page next to a picture of the family, of course, perhaps standing in front of the construction site. If I had to do a story about the data center for say the business action. Well, that's easy. Fire up some bubble talk. First I go to billionaire Ray Dalio. He's always good for something negative with a few qualifiers of course. Perhaps for early stage, maybe more mid stage. Either way, it's never seems to be a good stage. I don't mean to pick on Dalio Dalio. I mean what are they going to say about he's a kind man, that he's a wise wise man? Probably in the end anyone who consistently give you bearish quotes makes great copy. Then we need a story from someone who wasn't old enough to trade in the.com Europe but has made a ton of money and is saying that all these stocks are overvalued the zoom.comstreet.com Web Bands of the present moment. I wonder if you use Gemini or Chat CBT or the fast rising Claw to look this stuff up. I don't even know if I need anything else to write that hatchet job and get it published on page one of the business section. Get a lot of a lot of praise. That is the truth. Yes, data centers can be a mess. They're not automatically good for the places where they get built. But the builders of the data centers are rich. They're really rich. And if there were any politicians or regulators worth their salt, they negotiate for hundreds of millions of dollars of aid for their communities as well as stringent environmental rules like the smartest towns already get. They make the data centers pay up for new power generation to every single one of these negotiation points has been won by savvy communities. The builders will roll over if necessary, assuming someone asked them to. The polls don't get it. The polls are the villains. As for the bubble, first let's recognize that nobody stopped you from ringing the darn register. There was a period between the third week of February and the second week of March in 2000 when you could cash out near the peak. Then it was over. There were no real bids. Any hedge fund would knock anything down. Now there are bids galore. The companies may be borrowing a lot of money to build out their sites, but they're also beginning to make a very good return. Did anyone bother to listen to the Nvidia? Cool cool. They have almost 50% non hyperscalers as business. Their own allocation for everything. It doesn't matter right now and will someday. What matters is that the companies involved in the data center build up are getting paid enormous sums to lay down structures that will be used for decades. The electric use will probably go down as we get chips that are more efficient. We can't get enough of these things. I just wish the companies building them would have get smarter pr. The dunderheads who do the data center build out shouldn't surrender before the war begins. They should be building schools and hospitals ahead of the companies. They should shame the journalists for trying to stop the building of homeless shelters that they want to do. But they don't. So the cycle is endless. The politicians, rather than working with data center builders, just gang up on them and get more good. It is all fragile. It doesn't need to be. In the meantime, there's some young Jim Cramer out there trying to please city editors and business editors and the podcasters and the streaming sites and of course the linear business. And he does that by being as negative and corrosive as possible. Like I said, as always, more market somewhere. I promise I'll find just for you right here on Man Money. I'm Jim Cramer. See you tomorrow.
- [47:46]
C
All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, Internet or another medium. You should not treat any opinion expressed by Kramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Cramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy and it should not be relied upon as such. To view the full Mad Money disclaimer, please visit cnbc.com madmoneydisclaimer Support comes from Amazon Business.
- [48:19]
D
You can't rely on guesswork to run your business with smart business buying. Innovative AI tools optimize your purchasing experience paired with delivery options built for business Empower your team today. Learn more@amazonbusiness.com.