Mad Money w/ Jim Cramer 8/12/25

Summary

Mad Money w/ Jim Cramer - Episode Summary (August 12, 2025)

Hosted by CNBC, "Mad Money" with Jim Cramer dives deep into the complexities of Wall Street, offering listeners actionable insights to navigate the investment landscape. In the August 12, 2025 episode, Cramer tackles market pessimism, explores the burgeoning field of quantum computing, dissects recent developments in the travel sector, and delves into the dynamic world of sports betting data. Below is a detailed summary capturing all key discussions, insights, and conclusions from the episode.

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1. Market Pessimism and Investor Behavior

Timestamp: [01:25] – [09:26]

Jim Cramer opens the episode by addressing the prevailing wave of pessimism among investors, exacerbated by negative media narratives. He emphasizes the importance of the classic investment mantra: "Stay the course."

Key Points:

• Missed Opportunities: Cramer highlights how negative sentiment led investors to sell, causing them to miss out on significant market gains. For instance, he references a day when The Dow surged by 4484 points, and the Nasdaq saw jumps of 1.13% and 1.39%, yet many remained on the sidelines.

• Media Influence: A significant portion of the pessimism stems from media exaggerations concerning tariffs and economic indicators. Cramer criticizes headlines equating current tariffs to those before the Great Depression, arguing that such comparisons are fear-mongering tactics to drive engagement.

• Government Actions: He discusses the administration's imposition of a 50% tariff on India, questioning its effectiveness and pointing out the underlying trade deficits. Cramer illustrates how contradictory government actions, such as fluctuating stances on company leadership, create instability but have minimal direct impact on stock prices.

Notable Quote:

"Capped by negative bias before that positive CPI, people end up missing days like this one with The Dow gaining 4484 points, the Nasdaq climbed 1.13% and the Nasdaq jumped 1.39%."
— Jim Cramer [03:40]

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2. Interview with Dr. Barris – D Wave Quantum

Timestamp: [14:54] – [22:38]

In a compelling segment, Jim Cramer interviews Dr. Barris, CEO of D Wave Quantum, shedding light on the company's advancements and the future of quantum computing.

Key Discussion Points:

• Commercial Quantum Computing: Dr. Barris emphasizes that D Wave is pioneering true commercial quantum computing, with clients like NTT, Docomo, and MasterCard integrating their systems into daily operations. This marks a shift from theoretical research to practical business applications.

• Optimization Solutions: The company's quantum computers excel in solving complex optimization problems across various industries, including energy grid optimization for companies like GE Vernova and enhancing loyalty rewards programs for consumer businesses.

• Energy Efficiency and Blockchain: Dr. Barris highlights a breakthrough where D Wave's quantum systems can solve material simulation problems exponentially faster and more energy-efficiently than classical computers. This advancement has implications for blockchain technology, potentially reducing Bitcoin's energy consumption by 1000 times through a quantum-proof proof of work system.

• Future Prospects: While quantum computing is still in its nascent stages, Dr. Barris is optimistic about its rapid advancement and broader impact, particularly in AI and energy sectors.

Notable Quotes:

"Our quantum computers today are really good at solving hard business optimization problems."
— Dr. Barris [16:05]

"Quantum proof of work as the underlying computation for cryptocurrency... we would consume 1000 times less power."
— Dr. Barris [18:20]

"I want to find out what's going on. If this is technology whose time has come, then it makes sense."
— Jim Cramer [21:04]

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3. Airbnb vs. Expedia – A Tale of Two Travel Stocks

Timestamp: [22:52] – [42:48]

Jim Cramer delves into the contrasting performances of two major players in the travel industry: Airbnb and Expedia. Analyzing their recent earnings reports, Cramer provides insights into their market valuations, business strategies, and future outlooks.

Airbnb:

• Earnings Overview: Airbnb reported a solid quarter with gross bookings up 11% year-over-year to $23.5 billion and revenue growing 13% year-over-year. Earnings per share increased by 20%, surpassing expectations.

• Market Reaction: Despite strong earnings, Airbnb's stock plummeted by 8% the following day. The primary culprit was its cautious revenue guidance and concerns over future growth initiatives.

• Valuation Concerns: Trading at nearly 29 times this year's earnings estimates, Airbnb is one of the more richly valued stocks in the sector. The high multiple sets elevated expectations, and the muted guidance led to investor disappointment.

Expedia:

• Earnings Overview: Expedia delivered a robust quarter with gross bookings up 5% and revenue up 6% year-over-year. EBITDA surged by 16%, and earnings per share exceeded estimates by 27%, growing 21%.

• Market Reaction: In stark contrast to Airbnb, Expedia's stock surged by 4% post-earnings, buoyed by strong performance and optimistic guidance.

• Business Strategy: Expedia's diversified business model, particularly its B2B division, which saw gross bookings grow 17% year-over-year, provides a stable growth foundation. This division accounts for the majority of Expedia's recent successes, allowing for better margins and forecast improvements.

• Valuation Advantage: Trading at around 14 times earnings, Expedia presents a more attractive valuation compared to Airbnb, making it a preferred choice for value-conscious investors.

Key Insights:

• Business Model Diversification: Expedia's strong B2B segment offers a significant growth engine, unlike Airbnb, which remains heavily reliant on its consumer-focused model.

• Investment Recommendation: Cramer advises investors to favor Expedia over Airbnb due to its clearer focus on value, diversified revenue streams, and more reasonable valuation.

Notable Quotes:

"At the end of the day, I think Expedia is thriving because of its laser focus on value, while Airbnb is making a bunch of big bets that may or may not pay off in this environment."
— Jim Cramer [31:50]

"Airbnb is trading at almost 29 times this year's earnings estimates... Expedia sells for only 14 times earnings."
— Jim Cramer [35:00]

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4. Interview with Carson Kroll – Sport Radar

Timestamp: [34:08] – [43:37]

Jim Cramer engages with Carson Kroll, CEO of Sport Radar, to explore the intersection of sports data and the booming sports betting industry.

Key Discussion Points:

• Business Model: Sport Radar operates as a B2B platform, providing essential data and technology to over 900 sports betting clients globally and around 2,000 media clients. Their offerings include real-time data integration, enhancing the live betting experience for operators and fans alike.

• Live Betting Innovations: The company is at the forefront of live betting trends, offering tools that allow for intra-game betting based on real-time events and data analytics. This increases user engagement and provides sportsbooks with dynamic pricing models.

• Sports Integrity Services: Sport Radar is committed to maintaining the integrity of sports by monitoring for discrepancies and potential manipulations using advanced AI and machine learning models. This ensures fair play and trust within the betting ecosystem.

• Growth Prospects: With live betting constituting only 10% of their revenue, Sport Radar sees substantial growth potential in expanding their live betting offerings across various sports, including WNBA and table tennis.

• Market Position: Cramer highlights Sport Radar's pivotal role in the sports betting industry, positioning it as a critical infrastructure provider rather than a front-facing brand.

Notable Quotes:

"We are a technology business. We collect sport information, we collect fan information and we collect liquidity. We run a platform business with this."
— Carson Kroll [34:34]

"Live betting is 90% of our revenue is pretty much 10% and from a betting proportion, you know that's different. So you see that there is a huge runway for us to create more value for the clients with the Live product."
— Carson Kroll [35:16]

"I think sports betting is more honest with you, sir."
— Carson Kroll [39:33]

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5. Lightning Round: Rapid Fire Stock Picks and Recommendations

Timestamp: [41:07] – [43:37]

In the fast-paced Lightning Round, Jim Cramer responds to calls from listeners, offering quick stock recommendations and insights.

Highlights:

• Carnival and Royal Caribbean: Cramer advises against waiting to invest in cruise lines like Carnival and Royal Caribbean, suggesting a phased investment approach to mitigate volatility.

• Joby Aviation: He reiterates his recommendation for Joby Aviation, emphasizing the company's potential post-FAA certification and strategic acquisitions.

• Equinix: Cramer dismisses Equinix as too expensive, advising listeners to skip it unless there's a significant price drop.

• Rapid Fire Stocks: Brief mentions are made of other stocks, including Palantir Technologies and Cern, with varying degrees of enthusiasm and caution.

Notable Quotes:

"Airbnb is making a lot of bets and it's not clear with or which ones are going to pay off. That's why I prefer to stick with the tried and true. I say stick with Expedia."
— Jim Cramer [42:13]

"I'm sticking with Expedia. Much more mad money, including my sweet Sport Radar."
— Jim Cramer [43:16]

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6. Technology Spotlight: Cern AI and Voice Recognition

Timestamp: [41:07] – [48:08]

Towards the episode's conclusion, Cramer shifts focus to emerging technologies in voice recognition, spotlighting Cern AI—a company advancing beyond current virtual assistants like Alexa and Siri.

Key Insights:

• Superior Voice Technology: Cern AI's Surge platform offers more responsive and interactive voice recognition, capable of handling interruptions and integrating with visual data for a seamless user experience.

• Automotive Integration: With over 500 million cars utilizing their technology, Cern AI is well-positioned in the automotive sector, providing essential voice services that enhance driver safety and convenience.

• Market Potential: Priced at $472 million, Cern AI presents a significant growth opportunity, especially as it pushes into cloud services and broadens its device integration capabilities.

• Acquisition Potential: Cramer speculates on potential acquisition interest from tech giants like Apple or Amazon, given Cern AI's advanced capabilities and strategic positioning.

Notable Quotes:

"What matters, though, is that Trump was furious so he fired the head of the Bureau of Labor Statistics. Oh my. The journalists blew back."
— Jim Cramer [06:00]

"Cern's AI had to say... Cern's could respond, interact, and, unlike Alexa, handle interruptions with aplomb."
— Jim Cramer [46:15]

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7. Final Thoughts and Disclaimers

Timestamp: [47:28] – [48:08]

Jim Cramer wraps up the episode with personal anecdotes about technology frustrations and underscores the importance of innovative solutions like those offered by Cern AI. He reiterates that all opinions expressed are his own and advises listeners to consider the information thoughtfully before making investment decisions.

Notable Quote:

"All opinions expressed by Jim Cramer on this podcast are solely Cramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, or their parent company or affiliates."
— Jim Cramer [47:28]

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Conclusion

The August 12, 2025 episode of "Mad Money" provides listeners with a multifaceted view of the current market landscape, highlighting the influence of media on investor behavior, the promising advancements in quantum computing, the divergent paths of major travel companies, and the intricate dynamics of sports betting data. Through insightful interviews and robust analysis, Jim Cramer equips investors with the knowledge to make informed decisions amidst market volatility and technological innovation.

Transcript

[Keith Lansford]

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and [e-mail] MarketUpdatePodcast or find Schwab Market Update. Wherever you get your podcasts.

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[Jim Cramer]

Hey, I'm Kramer. Welcome to Mad Money. Welcome to Cramerica. Other people, my friends, I'm just trying to make you a little money. My job. Not just to explain, entertain, put it in context. Call me 1-800-743- CNBC. Tweet me imKramer. It happened again. Investors, egged on by negative commentators in their media echo chamber, drowned in a wave of pessimism last week. And you know what? They missed one of the best days of the year. Today, people just can't seem to process the most important three words in the investing lexicon. Stay the course. Nobody wants to stand pat when they think they can get out and then jump right back in. That's incredibly difficult, especially when you get an indicator that showed less inflation than we thought, like this morning at 8:30am but because the negative bias before that positive CPI, people end up missing days like this one with The Dow gain 4484 points, the Nasdaq climbed 1.13% and the Nasdaq jumped 1.39%. They missed a ton of money that could have been made because it now looks like rate cuts are in the offing, perhaps as soon as September. Here's why people can't come back in after they sold. The things that are driving people to sell don't get undone. Or at least most don't or they get undone, and only after stocks have rallied and therefore it's too late for you. Get back in. The train leaves the station. All aboard. And you're left behind, waiting for another choo choo that never comes along. Let's go back in time to a week ago. Look at what Made people so negative. First, a day that we've been anticipating for months. August 7th was looming large. That was a scary day. You bet. It was just about tariffs. People kept talking about sweeping tariffs. How many times have you heard the word sweeping when it's connected to tariffs? In fact, the tariffs were so sweeping that they now stood higher than they were in the lead up to the Great Depression. I knew that would come up. Right. You mentioned the Great Depression for only one reason. You want to scare people. And in fairness to me, it loves to scare people. Because you know what? That's what sells papers. That's what get ratings, whatever you want. I learned that I've been writing stories for many, many years, more than four decades in the business media. It's a real problem because you end up scaring people away from stocks and creating terrific buying opportunities for anyone with a fortitude to stick around. That's what happens in business journalism. Oh, and if the tariffs weren't sweepy enough, our president slapped a 50% tariff on India. Slap. There's another overused word. Do you ever hear anyone say stuck? No, it's slapped. Journalists won't say stuck. Journalists went nuts on this India story, though. The president, we learned, was undoing years of work to make our nation's friends. Well, that may be true, but we had a $46 billion trade deficit with India last year. One of the reasons why the war in Ukraine doesn't end is because India as well China as funds it when they keep buying Russian oil. So it's hard to say exactly how good a friend India might be these days. The 50% tariff on India was another reason that was sold to us for more selling for get out of stocks because of the 50% tariff. Or at least it was presented that way. As shocking as these tariffs were, there was nothing more frightening. Oops, there's another term, what we've heard endlessly than what happened with the Bureau of Labor Statistics after we got a weak employment number on the Friday before last and more important, radical negative revisions. I was totally out the lunch thinking that our President had checkmated Fed Chief Jay Powell with a series of weak employment numbers that would force the Fed to cut rates. Hooray. I didn't count on the President grading himself on the employment report. I didn't know he didn't trust the numbers. By the way, the numbers are. They're trustworthy. Just that they might take two or three months before you get them. Well, that's great. I call that suboptimal. What matters, though, Is that Trump was furious so he fired the head of the Bureau of Labor Statistics. Oh my. The journalists blow back. We've never seen anything like it. Oh, there's another phrase you've never heard about I've never used. Right. We have a dictator for the President and he doesn't want the real numbers to come out. Oh please. Trump wanted employment up and he wanted the Fed to cut rates anyway, and that's not how it works. Trump did turn a win into a loss, but as I said on Monday, who cares? I don't love that he's bringing in someone new to massage numbers. However, that's not really relevant to the stock market. I love it if the government outsources stuff to companies that could do it faster and better than the Bureau of Labor Statistics. But again, that's got nothing to do with the price of stocks. Oh, and let's not forget the President called for a full stop tossing of Lip Bhutan, the new CEO of Intel, because he supposedly had divided loyalties between us and China. How much work had the President really done on that one to make that finding? Clearly not that much. Because then he reversed himself and started calling the man a great American. His success in rise is an amazing story, the President said. Oh well. Second act a do over for Trump with Luke Bu. By the end of last week, things seemed pretty darn dire. Capitalism had taken a huge step back. You couldn't trust anything in this new small, smooth hauling regime. And right on top of that, we learned that the government planned to take a 15% cut of Nvidia AMD's AI chips chip sales to China. The two words I heard then last straw. Yes, it looks like the government's expropriating the profits of private business. It didn't matter that the video market cap increased by $150 billion when the company got the green light to sell the AI chips in China last month. What did I hear? Outrageous appropriation. The end of the sacrosanct hands off relationship between business and government. Oh, come on. Every one of these filaments creates a dark sinister shadow over this market. When would you think you're a chump if you stay the course? If you own stocks? Who can own stocks in situations where the President expropriates your profits, calls for the resignation of distinguished executives, fires officials in the bowels of the BLS whom he thinks are against him, slaps on sweeping tariffs on everybody. But perhaps Greenland, which he expects to annex anyway. So let me tell you what I've said and thought through all this if maybe you've missed any of my commentary. Simple. See, I'm like Marshall Sam Gerard in the movie the Fugitive, when Dr. Richard Kimball asserts that he didn't kill his wife. Gerard says, I don't care. I don't care about these issues. I am about trying to help you make money. Sure, if I were King, I probably wouldn't have done what Trump did last week or this week or next week. Let's just say that's not my style. But just because the President does something that you may think is personally outrageous, that's not a reason to sell your stocks. Especially because of a day like today where it's so clear you shouldn't have sold. Believe me, if I thought you should say if you should get out now, you know what? I'd shout it from the rooftops. I've done it before. Sometimes to good effect, but other times to bad effect. And you know what? That's because the things I was worried about were easily undone. So that was a mistake. I think most of what Trump does can be undone if it becomes a problem. After all, that's how he operates. More important, I just can't relate most of the stuff to the companies themselves and the profits they make. They're making tons of money, more than ever. They're giving you a tremendous return. They figure out how to change their supply chains, how to deal with mercurial presence. Thank you, Jensen Huang and Tim Cook. And they do what's necessary to help you make money. They want to make you rich. You're not letting them. The only thing many people won't let these CEOs help them. They're too busy selling stocks as they think the Republic is on fire. But even if they were right, that's not actually even a reason to sell stocks. Then the market simply doesn't care about this stuff, people. So from a money management perspective, you can't let it get in your head. Even as from a personal point of view, it lives there. I don't care the bottom line, unless the government says it's going to nationalize entire industries, I think we have to accept Marshal Girard's admonition. And just so you recall, Dr. Richard Kimball didn't kill his wife. They found the one armed man and he too had nothing to do with what with the price of Palantir Technologies certainly going to $200. Let's go to Amar in Washington. Amar.

[Caller]

Mr. Kramer, thanks for taking my call. I'm a longtime viewer. First time caller. Congratulations on your 20 years.

[Jim Cramer]

Thank you.

[Caller]

I greatly appreciate your insight and the wisdom that you share with us.

[Jim Cramer]

Thank you very much. I'm working so hard right now, I can't tell you why I am. But anyway, yeah, give me what do you got?

[Caller]

All right, so based on long term trends in cybersecurity and integration, I recently started a position in Pan W Palo Alto Networks.

[Jim Cramer]

Right.

[Caller]

And given the upcoming earnings and the evolving competitive landscape, do you still see VW as a strong long term hold?

[Jim Cramer]

Yes, I do. I think the Catch a Roar is being widely misinterpreted by his buy of of. You know, he just bought this Cyberark which is company that I've liked for like I don't know since we started the show now maybe 15 years and he bought it then all these people are saying oh it must be something's wrong. Are you kidding? Hey, by the way, the stock is finally down ahead of the quarter, which I think is actually going to help us. We are up for the Chapel Trust. I will be talking about it on Thursdays monthly meeting call. All right, look, the market just doesn't care about a lot of these headlines and you may care about them personally, but I'm trying to make you money and so are the CEOs. Give us a chance. All we are saying is give money a chance. I mean tonight. That's really so. I love that. So meretricious. This market is going crazy for some of the speculative quantum computing stocks and I told you that I would keep you up on the all the data, all the big performers. So I'm checking in with CEO of D Wave Quantum to get a better sense of their technology. Then was the tale of two travel stocks, Airbnb versus Expedia. One reported a quarter that was loved, the other hated. I'm breaking down the two names and close Viewers know that I've been a fan of sports betting stocks. But one under the radar plate caught my attention and has quietly been climbing higher. I'm getting an update on sport radar with the company's top brass. So stay with Kramer.

[Keith Lansford]

Don't miss a second of Mad Money. Follow imkramer on X. Have a question? Tweet Kramer 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.

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[Jim Cramer]

Later. This market's going to a speculative frenzy. People racking up huge gains in Quantum Computing stocks even as the technology still in its image. But maybe it's closer than we think. But I'm not scolding you. I want to take the speculation seriously because maybe it's not that speculative after all. Which brings me to D Wave Quantum, a stock that's up nearly 2,000% over the past four months. I want some of that last Thursday. Do we have reported? Honestly, I'm not quite sure what to make of the numbers. I'd rather just play with an open hand. Companies touting the fact that bookings were up 92% year over year. That's terrific. But like I said, Quantum computing still very early. That's why bookings stood at just 1.3 million. That's an M same time the company's losing big money. But you know it has big money. So Maybe. So what you can understand why more traditional investors look at this struggle to justify. Do you wave more than $6 billion market capitalization? But not me, because I'm open minded. I want to find out what's going on. If this is technology whose time has come, then it makes sense. So has quantum computing truly arrived or has the stock gotten ahead of itself? Let's take a close look at barriers. He's the President CEO of D Wave to find out. Dr. Barris, welcome to Mad Money.

[Dr. Barris]

Thank you.

[Jim Cramer]

Okay, so I'll tell you the conundrum I have. I heard we mentioned that you were coming on. Well, nobody stops me on the way to getting a haircut. Never asked me about a stock I got stopped twice saying listen, you got to find out about that D wave I met and one guy said that I made a killing D Wave. And I said to myself, okay, I've got to just try to let people understand why you're important, why people pay for you, and why this is now and not 10 years.

[Dr. Barris]

So Jim, we are quite unique in the quantum industry in the sense that we were the first and are the only quantum computing company that is truly commercial. And by truly commercial, what I mean is we have customers using our systems today as part of their business operations. This is not research experimentation. This is customers using us today as part of their business operations. Companies like NTT, Docomo, large cellular firm in Japan, companies like MasterCard.

[Jim Cramer]

Okay, because Michael me back is someone I know really really well and MasterCard could use anybody and has tremendous ability to be able. It's filled with mathematicians, really quite amazing. Most mathematicians under roof of any other company. Why do they need you?

[Dr. Barris]

Yeah, so basically our quantum computers today are really good at solving hard business optimization problems. These range from workforce scheduling to manufacturing plant floor optimization to protein folding. But one of the types of optimization problems is around optimizing loyalty rewards for programs. So the idea is how do you decide what programs to offer to what customers to maximize uptake? That's a hard optimization.

[Jim Cramer]

I know that most people think it's intuitive. It's not right?

[Dr. Barris]

Definitely not.

[Jim Cramer]

And the way to make more money would be can they bring you in to show them or is that something and will they pay you for that? Because I'm trying to figure out if I could get that information up. Why not pay you $20 million for that information, get you really mine it for me.

[Dr. Barris]

So it's not so much the information, it's the computation. We're not about big data. What we are about is solving Hard computational problems to get to better answers and better outcomes.

[Jim Cramer]

Okay, so what for GE Vernova, which is a fabulous company that does alternative energy, but also natural gas turbines, what kind of outcomes are you trying to find for them?

[Dr. Barris]

So basically what we are trying to do is help all of our companies improve their business operations. Okay, so in the case of G, for Nova or any energy companies, it's all about how do we optimize the grid and how do we make it more reliable.

[Jim Cramer]

Well, okay, so that is so important to you for Nova that I, I would think that they would pay you a lot more money than maybe they're paying you now. Is that possible?

[Dr. Barris]

Absolutely. So we are, as I said, the only commercial quantum computing company. But we are still in the very early stages of, of commercialization. So today we are working with our customers through our professional services team to help them understand which of their applications can most benefit from quantum, to help them build out those applications and then ultimately move them into production. As they start moving into production, that's where we will see a significant revenue uptick.

[Jim Cramer]

Okay, so I am also told at the same time you've got to ask about, is he going to destroy Bitcoin? Now can you explain to people why you may or may not be able to destroy Bitcoin?

[Dr. Barris]

Yeah. So we announced about two months ago that we had for the first time ever been able to show that our quantum systems can solve an important real world problem, a useful problem that cannot be solved classically. Now this happened to be a problem in the area of material simulation, basically computing properties of magnetic materials. We, which we can do in minutes, that can't be done classically even with millions of years. So that's a very significant result for the quantum industry. Nobody today had been able to show that they could solve a useful problem that can't be solved classically. What we were then able to do is take that computation and turn it into what we called a quantum proof of work or blockchain. The idea being that instead of using the typical computation for Bitcoin, which is SHA 256, what you could do is use this quantum proof of work as the underlying computation for cryptocurrency or other block chain applications. Why is this significant? Because if blockchain, if Bitcoin today was using this proof of work rather than what they're currently using, we would consume 1000 times less power. This is a very energy efficient.

[Jim Cramer]

The guys from Core, we, that's why, why they got into power because it was, they were, they were bitcoin guys.

[Dr. Barris]

You're absolutely right. And it's not only blockchain and bitcoin and other cryptocurrencies, it's also AI. The point is, quantum computers are very energy efficient. Our systems are going to be able to perform these computations at a fraction of the power required time to short the energy stocks.

[Jim Cramer]

Well, I was going to say that we do believe that the grid is supposed to go up 4 to 5% every year. That will not happen if you get to be commercial.

[Dr. Barris]

That's exactly right.

[Jim Cramer]

Well, then we shouldn't be thinking about the demand. We've got to be worried about all the money going into energy.

[Dr. Barris]

Yeah, look, I think that today the assumption is it's still going to be a while before quantum gets to the point where it can really impact AI. However, I believe that you're going to see it happening much sooner than most people believe because of the technology that we've developed.

[Jim Cramer]

And you're showing me here, Is this something that Jensen Huang saw and realized that perhaps he was being too judgmental about?

[Dr. Barris]

Well, I don't know if Jensen saw this, but this is our most recent quantum processor. It is a superconducting processor. It has over a million justice injunctions. It's like transistors, over 100 meters of wiring, hundreds of thousands of active devices. This is the largest superconducting chip ever developed.

[Jim Cramer]

Do we need to use cryogenic to cool this?

[Dr. Barris]

We do run this within a dilution refrigerator at Millikelvin, Texas.

[Jim Cramer]

Now, Jensen told me that cryogenic is too expensive for him to be using. Why is it okay for you?

[Dr. Barris]

Well, so. Because this chip is so much more powerful than GPUs. Think about it this way. That computation that I talked about a minute ago, computing properties of magnetic materials, we perform that computation in minutes, consuming about 12 kilowatts of power on this chip. If you were to run it on the largest exascale supercomputers in the world, massively parallel GPU systems, it would still take over a million years. So think about how much power and how much cooling you need for those massive exascale systems versus this one chip.

[Jim Cramer]

Well, look, I could talk to you for hours, and I think that we're going to have to do a lot with you because our viewers want to hear more about this than anything. And our viewers are smart. And if we think that they're just yahoos that are trying to buy something at 12 and sell to 15, that's selling them short. They're looking for Something that for multi years and it may just be you and your company. So I want to thank you so much, Dr. It's, it's incredibly enlightening to be able to talk to you. That's Dr. Baritz from and I'll tell you, this stuff is actually T wave the stuff. The website is by far so easy. I'm telling you, you'll come back and say, oh, look at this traffic problem that they solved in China. Look at the things that they're doing. All real world things. All real world. Their money's back after the break.

[Keith Lansford]

Coming up as, as summer travel winds down, Kramer's looking closer at Airbnb and Expedia and sharing which one investors might consider booking a stay in and which one to book profits and go next.

[Capella University Representative]

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[Keith Lansford]

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[Jim Cramer]

There's no time like now to step. Start building your personal brand.

[Keith Lansford]

Register now at cnbc. Make it comm slash personal brand.

[Jim Cramer]

Last week we heard very different things from two fairly different consumer travel players, both of which you know. On Wednesday night, Airbnb report a quarter that the market just hated, with the stock plunging 8% the next day and not coming back much since then. Then on Thursday night, Expedia reported a quarter that the market loved when they sent A stock up 4% on Friday. And people are still saying, what the heck is going on here? Why is Expedia winning while Airbnb is losing? Heading into last week's results, Airbnb and Expedia were mostly trading together almost lockstep, both roughly flat for the year. Obviously, that's changed. Let's start with Airbnb now. Despite the reaction to the port, Airbnb actually reported pretty good results. Gross bookings value up 11% year over year to $23.5 billion, which was nearly $1 billion more than expected. Wow. Revenue grew 13% year over year, also higher than expected. Their ebit was up 70% earnings per share, up 20% also coming in stronger than what Wall street was looking for. Only Airbnb's cash flow came in a little light. Don't worry about that. Unfortunately. What crushed him? Their guidance guidance for the current quarter, the most important quarter of the year for travel companies in Northern Hemisphere was more mixed. Airbnb's revenue forecast was merely in line. And in terms of nights booked, management warned of tougher year over year comparisons going forward. They also had some discouraging things to say about their Ebitda margin, thanks to costly investments in new growth initiatives. Long story short, while the second quarter numbers were strong, Airbnb guidance was more guarded. Even after the company implied that July went well, which made investors worry that matches bracing itself for a slowdown. Right? If July went well, they must be think that August, September, terrible. And if they're going into a slowdown, then it's hard for Wall street to get excited about these new growth initiatives like Airbnb Services and Airbnb Experiences, which, which does things like tours and wine tasting stuff I thought was kind of cool, but I don't know anymore. So how about Expedia Group? They too had very strong numbers for the second quarter. Gross bookings higher than expected, up 5% year over year. Revenue higher than expected, up 6%. EBITDA higher than expected, up 16%. And Expedia delivered a whopping 27% earnings beat off a $3.97 basis. Hey, that's 21% growth. I like that. Now, unlike Airbnb, though, Expedia gave unambiguously robust guidance for the current quarter. Management also raised their full year forecast for gross bookings and revenue growth. And after previously saying that they expected 75 to 100 basis points of margin expansion in 2025, Expedia now says it's going to come in at the high end. 100 basis points. Basically. Airbnb gave what's called a beat and meet quarter and signaled that its margins would likely contract in the back half of the year. We're no longer paying up for these, these kinds of stocks and in many cases we run from them. Expedia, on the other hand, gave us outright beaten, raised quarters and talked about stronger than expected margin expansion going forward. No wonder Airbnb sold off Lux Pitia roared higher at the same time. You got to consider where these stocks are coming from. Airbnb is the more richly valued of the companies, trading at almost 29 times this year's earnings estimates. In other words, the ones that is the most value was the one that went down the most the that's now their expectation. They are more than double the multiple of Expedia. That kind of tells you what's going on here, which sells for only 14 times earnings. Okay. Those multiples, by the way, are after Airbnb pullback and Expedia post quarter. So. So Airbnb is almost twice as costly, right? Needless to say, when you have the higher multiple, more is expected of you. And Airbnb didn't meet those elevated expectations, hence the decline. Now that's a simple story, but if you're going through both reports, there are a couple of things that I think really explain why Expedia is suddenly liked while Airbnb is very much disliked. After those results first experience online travel agency. It's got this B2B business business division, while I got to Airbnb is really still just a consumer story. That's really important because Expedia's business business division is the best part of the company right Now. In the second quarter, their B2B unit saw gross bookings growth 17% year over year and revenue growth 15%. The larger business, the consumer division, on the other hand, had just 1% gross bookings growth and 2% revenue growth. In other words, business to business accounted for almost all of Expedia's growth. And that's a tailwind that Airbnb just doesn't have the strength in Business to business is also what gave Expedia the confidence to issue better than expected guidance for the third quarter and raises for your forecast. Because Airbnb is completely hostage to the consumer, though they had to be cautious. What else? I'd say that at least right now, Expedia seems to have a clearer focus on its mission, while Airbnb is still exploring new growth initiatives that may or may not pay off. Expedia is the place where people go to compare prices and find their best value for their travel options, their flights, their hotels, their rental cars and even Airbnb style home rentals through vrbo. Airbnb, meanwhile, is spending big money to grow its in areas that I've regarded as outside of its core home rental business. Just looking at some of the top things announced at the company's annual product update May they're working on Airbnb services, which will allow guests to, for example, book a chef or a personal trainer to come to their home rental or tackle in gym access or spa appointments to their stay somewhere. There's also Airbnb experiences which allow guests to book guided tours or museum visits or other excursions alongside the chip. See, I like that stuff. It's also investing in an app refresh, which will make it easier to to take on these services or experiences while booking a stay. See, the problem is I'm not the regular customer. All right? That's why I have to ask, will these work well, consumers like them, will they pay up for them? Time will tell. But remember, we are in an environment where the consumers clearly become more value conscious and Airbnb is betting on businesses that require consumers to open their wallets. Remember, the constant theme we've heard from consumers facing companies for almost a year now is that consumers are looking for value. Of course, I've always felt that at its core, Airbnb represents tremendous value. You get the full house experience at a price that's similar to or even better than what you would pay for a hotel room one. But now they've gone upmarket and represents a risk. Expand on the other hand is simply focused on execution and that's working as consumers keep coming to their platform to get the best prices when they want to travel. So let me give you the bottom line is very complex story. There's a reason why Airbnb stock tumbled after earnings while Expedia sword the very next day, Expedia had a pure beaten raise with very little hair on it, while Airbnb had a beat, but also gave investors some reasons to worry about its guidance. Plus, Expedia's got an advantage with much more business to business exposure than Airbus. At the end of the day, I think Expedia is thriving because of its laser focus on value, while Airbnb is making a bunch of big bets that may or may not pay off in this environment. I say stick with what's working. I say stick with Expedia. John in Florida. John, how are you?

[Caller]

Jimbo, thanks for taking my call down Florida.

[Jim Cramer]

All right. Air conditioning, you know. Yeah, good.

[Caller]

Thank God for that, Jimmy. Listen, my question is, Jim. CCL Carnival. I love cruising. I love that cruise line. Should I wait to dip in or.

[Jim Cramer]

No, no, no, no, no. You just, you can't wait. You can't wait with these stocks. They are momentum stocks, but I agree with you, they're bargain stocks too. Royal Caribbean people were like saying, well listen, I'm going to wait a little more for Royal Caribbean to go down. And did you see that stock today? I mean, the people today were saying, what was I doing waiting? Here's what you do. There's always these compromise here. What you go and you buy. Say even for Royal Caribbean or carnival, let's buy four or five. If you want to buy 200 shares, let's buy 50. Okay. And then see if it comes down. But you get your 50th. Let's go to Bill in New York. Bill.

[Caller]

Hello there, Jim. Booyah, brother. Been with you guys for about 25 years. Yeah, Jim, listen.

[Jim Cramer]

You got it.

[Caller]

Great guardian. Great guardian. Hey, listen, Jim, I'm looking at a stock. It's going to get an inevitable FAA certification. I'm looking at the buy memo of understanding to invest up to $1 billion. Look at Joby Aviation.

[Jim Cramer]

Okay, I know Joby. I recommended seven. Now, remember, Joby did buy a part of Blade that I think is an expensive part, which is consumer. I do believe that what they should do is raise money. If I were them, I would do a gigantic equity offering. And if you did that, then I would say that, John, that's when you got to do. That's when you got to. I'm sorry, Bill. That's what you have to do. You have to strike when the iron's hot. Let them offer some stock or let it come in. But I'm with you. I recommended Joby 7. 8. I said that enough. I see where it's going. Going. Let's go buy it. All right. Airbnb is making a lot of bets and it's not clear with or which ones are going to pay off. That's why I prefer to stick with the tried and true. I'm sticking with Expedia. Much more mad money, including my sweet Sport Radar. You know about DraftKings and Florida, but what about a data company that arms and sportsbooks with everything they need to set up the best? I'm getting the full story from the CEO. Then we have CEOs on on the show so you can make your own judgment if the stock is the best way. Not one recent guest caught my attention. That I think could be a treating speculative opportunity if not a certainty. For heaven's sake. Wow. I'm going to reel the name and oil calls Rapid Fire in tonight's edition of Light Round. There's no such thing as certain in this business. But I do like what I'm about to tell you. Stay with Kramer. I've been a big fan of the online sports betting platforms like DraftKings flutter. But lately the biggest winner in the space has been Sport Radar, which is like an arms dealer to the sportsbook operators. Sport Radar provides them with the data they need to make. The odds are back in this one. You know, back in October, I buy it at 12 and now it's a 29. But when sport Radar reported last week, even though the quarter looked good, the stock shed 5.7%. Since then, it's recovered from its lows. So maybe the stock was simply due for a pullback after some huge gains. Do not take it from me. Let's dig deeper with Carson Kroll, he's the founder CEO of Sport Radar to get a better sense of the quarter and what comes next. Mr. Karl, welcome back to Mad Money.

[Carson Kroll]

Hi Jim, thanks for having me back.

[Jim Cramer]

Very happy you are. Your company is one of the company. I can only say that you are maybe the most important company that people don't know when it comes to watching sports and gambling. And I'm talking about many major sports. You've been kind of like behind the scenes. What should people know about you in your company?

[Carson Kroll]

What they should know is we are a technology business. We collect sport information, we collect fan information and we collect liquidity. We run a platform business with this. So the more data we get in, the better products we can provide. And It's a complete B2B business. We have 900 sports betting clients around the globe and we have roughly round about 2,000 media clients which are getting our products. And at the end, like you know, in a B2B business, it's all about creating value for the client. And we do this obviously not too bad.

[Jim Cramer]

Now you have created tremendous value. When people do live betting, intra game betting, they can't do it without you, can they?

[Carson Kroll]

Well, you can always do without us. But I think we are creating simply more value for them if they use us and that is part of our success. So listening to the client, helping them to solve a problem or helping them to do a better business, that's our mission. And you say life betting is a big trend in the US and we are very, very happy that we can help DraftKings and Fanule to expand into this region. And we see very positive results from them. So we are driving this. And all what we do is the most value. What we create is real time. So life is 90% of our revenue is pretty much is only 10% and from a betting proportion, you know that's different. So you see that there is a huge Runway for us to create more value for the clients with the Life product.

[Jim Cramer]

Well, there are a lot of people who want to bet on the last pitch, the first pitch. They want to on the first baseball and the first basketball. First basketball. This foresight operation, foresight streaming product really gaining traction. Tell us what that's doing.

[Carson Kroll]

It's a stimulation tool. So we are using the deep data which we get from our league partnerships. You mentioned baseball. So we have the bull spin rate, of course we have the speed and all those kind of information. We put real time into the video and the betting proposition is on the other side which is linking directly into the betting post program. Of course we have some other tools where we say for the mba, for the league pass. We have this tool directly built in the league pass and the video consumption has the overlays and links you down into the betting product of DraftKings of Vanu because they are partners for them. So that is creating the stickiness and the interactivity and I'm totally, totally, totally sure that is also the future of broadcasting. And it connects sponsoring, merchandising, all these streams and sports betting to the picture which you see real time from sport. We are only on the beginning of.

[Jim Cramer]

Well, I just wanted to say that along those lines like I didn't know that people were betting on on WNBA and they can't. They. They're using your data. I mean you're like look, there's been 70 sports added since 2018 for you. But tell us about WNBA because I think people might even say come on what they don't bet on that.

[Carson Kroll]

It's big. It's really big. And and as you know, so this is booming heavily in the last two years and from a betting perspective it is something which is running life. It creates that stickiness and it's so much more fun to watch a match and have life a bet on it. Then instead of waiting for two or three days till you know you have won a loss. So it's a much better stickiness, much more interaction and you can promote a lot of sports. Not only wnba, table tennis is another sport which is very good for this. Every fast moving sport is for life betting. Perfect.

[Jim Cramer]

Now you also do something that I think because you have so much data you can catch it. Integrity services.

[Carson Kroll]

Yeah, that's essential. So nothing without integrity manipulation in sport and knowing the outcome to spread of the sport and related to betting that is harming the sport significant. So since, since we exist since 20 years I'm working with the team on this and it's not a profit unit but we are very proud that we created a system where we have our own pricing and we watch the market pricing and if there is an inconsistency on this, of course it's all driven by AI and large language learning models and nowadays also next gen. But it's something where we can with a very high probability say there's something wrong in this because then the market moves, there is liquidity streams behind it. And if there is a difference and if somebody is betting all the time in one direction that raises belts. And we have hundred sixty corporations with most of leagues worldwide and we give advices to to the criminal and police departments worldwide. Amongst them the two popular ones in the States.

[Jim Cramer]

Well, let me ask you. I'm in the business of stocks and I think there's a lot of crooked stuff in stocks. It used to be much more heavily police, now it's not. Which is more honest, sports betting or stocks?

[Carson Kroll]

You ask me difficult questions today. I would say both of them have high integrity systems behind it. I think from a sport perspective you see the action right away from the stocks, you feel it. So I would as a sportsman always say sports betting is more honest with you, sir.

[Jim Cramer]

I was going to say if you said stocks I said no, wait a second. It's right in front of you. It's right in front of you for me. Right. It's really hard to throw a game. We all see it, we all know things and we've got the data that makes it so it's really dangerous to do stuff like that. You'll catch people, won't you?

[Carson Kroll]

You see if I see sometimes what happens with hedge funds going in and out, having magic here and there. Well in the sport I see what happens on the pitch and I see the real time data and I see the deep data.

[Jim Cramer]

Well, I like.

[Carson Kroll]

So that's the reason why I believe I can.

[Jim Cramer]

I like that a lot. But that's Carson girls. Founder CEO of Sport Radar. Look, at least out of laugh if nothing else I think this stock is terrific Sr. Thank you so much much Carson, I really love having you on the show. Thank you. Terrific man. Buddy's sure man Buddy's back after the break. It is time and then the lighting round is over. Are you ready? That is getting died. All right, let's start with Bill. It matches Bill.

[Caller]

Jim, this market is making me want to move to Spain and run with the bulls.

[Jim Cramer]

What? Amazing, amazing.

[Caller]

I'm a club member doing making big money.

[Jim Cramer]

I want to hear you on Thursday. I want you to be on that call Thursday at 12. All right. Promise you. Thank you. Let's go. Go to work.

[Caller]

Jim. There was a second part of this company that does grid storage for Aero auto and industry. It's alb my man. Thank you.

[Jim Cramer]

Which one is it? Alb. Oh, Albemarle no, it's too good. We're not going to go there. It's too volatile and too hard to actually nail down. I'm going to say skip that one. Let's go to Jim in Florida. Jim, Jimmy, chill. A big thank you, staff from Naples, Florida. All right, man, let's go to work. My father taught me something that you teach on the show every day. Buy and hold or buy with homework. And yes, I've been watching you since. I think the show is called American now or something like that. Yes, indeed. That was my show with Larry Kudlow, who was doing well.

[Caller]

Well.

[Jim Cramer]

And please remind Dan Nathan that he's alive and well, because I was kind of embarrassed when he said the other day. But anyway, I'm calling out a company that has a $29.8 billion market cap, and again, I'm confused with this homework. So I look at earnings, and then there's GAAP earnings and not GAAP earnings. Right, right, right. Buy, seller, hold a lab. It's too hot for me. It's too hot for me. Jim, I've got to tell you, everything you're worried about, I'm worried about. I know. It's a straight up stock. I'm on the back. Palantir is a straight up stock. I can't have more than one of these right now. Let's go to Diane and Colorado. Diane.

[Caller]

Hi there, Jim. Thank you for taking my call.

[Jim Cramer]

Of course.

[Caller]

And thank you also for your. Your enthusiasm and how enthusiastic you are in sharing your knowledge and your information. That's invaluable.

[Jim Cramer]

Thank you for that. Thank you.

[Caller]

Well, you're, you're like, on a scale of 1 to 10, you're about a 20 in both of those categories. So. So, okay, what's really wonderful. So the stock.

[Jim Cramer]

Thank you. Equinix is still too expensive. That's the commodity side of this business. I don't want you in the commodity side. If it came much lower, we would take a really hard look at it. Oh, and that, ladies and gentlemen, conclusion of the Lightning Round.

[Keith Lansford]

The Lightning Round is sponsored by Charles Schwab.

[Jim Cramer]

So I was having my usual battle with Alexa last night. I asked her to play some Wagner. I knew that was always fraud. I mean, I waited for her to be confused by the way the W is pronounced with a V, which is why I was very excited when she immediately picked up the Ride of the Valkyries. Very good choice. For a second, I thought Alexa was finally working like it should. But I got my hopes up too quickly because as soon as it was over what did I get? A different version of the Ride of the Valkyries and then a third version. Only after that did it play the overture to Tristan Eastold and then, yep, right back to Ride of the Valkyries. What a selection. At that point it was time to go to bed, so I screamed at Alexa three times before she finally shut herself off. Then I went to Siri. I told Siri, I want to wake up at 3:15. Why? That's what I do on Tuesday morning. So I want to get the jump on everybody else, including you. Of course, Siri didn't understand what the heck I wanted the first time or the second time, even as I swore I was talking right to her face. Third time charm I felt I'd stepped into somehow like a futuristic battle of the machines, which would have had a tailor shirt and credit if only I had fought back savagely with hammers and tongs instead of me resigning my fate and drifting into an angry sleep. But before I could pass out, it hit me. How about cern say Aye as a solution to my and Apple and Amazon's problems with voice recognition? I'm talking about the company that was on this show last night, the one with CEO Brian Cranich. These guys make the voice recognition software that's used in cars where it's more life or death. Surge used to be a part of Nuanced Communication, the company that worked with Apple and Siri early on, but Apple went its own way. Nuance tried a bunch of different verticals, including health care. Somehow it didn't seem to care for the automotive portion of the business, and it spun it off in 2019. Asserts two years later, about half the automakers were using Brian. It's led of intel and CDK Global and auto dealership software Play took over its earns in October 2024, nearly sent the company on an AI path. Cerns kept its preeminence in autos. 500 million cars have been using their technology, but Brian is pushing hard to get into a number of devices while also pushing forward his cloud businesses. Yesterday I heard and saw what CERN's AI had to say. We when research director Ben Stodo and I played around with the company's website. Wow. CERNs could respond, interact, and, unlike Alexa, handle interruptions with a plum. It could, when combined with vision from the cloud, actually recall billboards, real phone numbers, and then dial them if you wanted to. It seemed to be able to do everything that I want so badly from Siri and Alexa, but they just keep letting me down. Now here's what really matters. Cerns is just a $472 million company. To acquire this technology, we're rallying our friendly hyperscaler. Brian's a big time CEO at a small time company. He ran intel and then after that ran CDK Global. He then sold CDK to Brookfield, a private equity firm for 30% premium versus where the stock was trading before they made the bid. I know Brian's cleaning up cern's AI like he cleaned up cdk. He has no desire to sell. He wants to build and I think he will because his voice technology superior to anything I've seen. To me, this is the kind of situation where you could win either way. The market's red hot. You don't want to buy something that's already had a great deal of run. But at one point CERN's stock traded at more than 10 times what it sells for right now. And while it had much better profitability back then, I think the current version of it's got more upside. Look, we're all tired of our devices. We want to interrupt them. We wish they knew more. But the ones in the car, the ones powered by Surge, do know more. I hope Amazon or Apple spend a day's worth of revenue to snap this one up. If they did, I am confident that Alexa would have moved on to dimeister, Singer or or Siri would question my actual early hour or at least thank me for the order. Is that too much to ask? I like to say there's always bull market Summer. I promise I'd find just for you right here on Man Money. I'm Jim Kramer C Tomorrow.

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, or their 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 Jim Cramer 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 Is it time.

[Capella University Representative]

To reimagine your future? The right business skills may make a difference in your career. At Capella University we offer a relevant education that's designed to focus on what you need to know in the business world. We'll teach professional skills to help you pursue your goals, like business management, strategic planning, and effective communication. And you can apply these skills right away. A different future is closer than you think with Capella University. Learn [e-mail].