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Jim Cramer compares AI data-center financing to dot-com bubble
Cramer linked renewed chatter about Nvidia supporting OpenAI's expansion to earlier financing structures he says preceded the dot-com crash, drawing a parallel to past market dynamics.
CNBC Markets personality Jim Cramer said recent reports about AI spending and financing arrangements have echoes of the dot-com era, which he points to as a cautionary parallel for investors.
In particular, Cramer referenced reports that Nvidia would back OpenAI's data-center expansion and said that renewed attention on those backing arrangements brought back memories of the financing structures that, in his view, preceded the dot-com crash.
Cramer framed the current cycle as a circular financing frenzy tied to AI infrastructure buildout, arguing that the pattern resembles what happened during the late 1990s technology boom.
The remarks were part of Cramer's broader warning that AI-related funding and business partnerships can revive the kinds of speculative dynamics seen before major market corrections.