We recently published a list of Jim Cramer Defended American Superiority and Discussed These 13 Stocks. In this article, we are going to take a look at where Nvidia Corporation (NASDAQ:NVDA) stands against other stocks that Jim Cramer discussed.

In his latest appearance on CNBC’s Squawk on the Street, Jim Cramer highlighted the often-overlooked role of currency fluctuations and explained why a weaker U.S. dollar might actually benefit American companies:

“The tariffs are going to be offset by the weak dollar. People forget that. And weak dollar’s good. We have a lot of people who work at the network who think weak dollar’s bad. I don’t know where they get that, because if you listen to a conference call, the weak dollar could save us from the tariffs.”

READ ALSO: Jim Cramer’s List of 16 Stocks to Buy Right Now and Jim Cramer Answers If the Market Has Bottomed and Weighs In On 11 Stocks.

As the conversation shifted toward geopolitical risks and the strategic rivalry with China, Cramer referenced the book Death by China to illustrate fears about China’s technological dominance and the potential consequences for U.S. national security:

“Look, in 2011, I got Death by China. When you stop, and the book is about Navarro, and it’s basically about World War III. He doesn’t mention that. I’m adding that. Graham Allison talks about World War III. He was one of my professors. So, hey, listen up. You can’t even, so it’s not even stock right now, but Death by China just talks about their grand plan to take us over. And when you go back and read it, it’s more cogent than you thought. It’s like Ghost Ship, which is one that Mark Benioff gave me about how our Navy eventually is going to be made of all Chinese chips and we go to use it against the Chinese and nothing happens.”

While discussing the increasing competition between American and Chinese companies, Jim Cramer re-affirmed his position that the U.S. is still very much ahead of China, saying:

“I think that there should be a great competition and real arms race. We shouldn’t be helping them and let’s see who wins. […] Look, I think that we’re unbelievably great. We’re well ahead in scale. I don’t trust the Chinese. I would never want to use their stuff because I think that they would in the end be, you’d be captive to that regime. I think that we’re still ahead.”

Our Methodology

To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on April 16th.

For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

A close-up of a colorful high-end graphics card being plugged in to a gaming computer.

Nvidia Corporation (NASDAQ:NVDA)

Number of Hedge Fund holders: 223

Nvidia Corporation (NASDAQ:NVDA) was at the center of the episode as the panel discussed a $5.5 billion inventory charge related to U.S. restrictions on GPU exports to China. Jim Cramer defended CEO Jensen Huang and emphasized Nvidia’s critical role in both AI and military applications. Here’s what he said:

“Look at that NPR report, April 8th, that said, look, they’re probably going to be OK. I think they’re holding their breath and they felt that they would be OK. So when I read that story, I just think, is that really the case, that they really just say they kept the Chinese in the dark? How about they kept… everybody who owns a stock in the dark, I care more about that than I care about the Chinese for heaven’s sake. […] I think Jensen Huang’s an honest man. I think he didn’t really know. I do believe, though, that you could be led to believe one thing in the administration and then David Glove the other.

Just take a look at what happened on Friday night when you were led to believe that perhaps there were exemptions. uh… for some tech and then and then on Sunday when you were heard Howard Lutnick you were led to believe that there were. So I don’t think Jensen’s in any position on every other executive that has been dealing with this administration.

[Talking about Nvidia’s chips] I also want to point out that while they are not the latest and greatest, people talking about being two generations old, they’re still NVIDIA chips that can do a lot more than everybody else. I am surprised they take a $5.5 billion charge for chips that I think somebody wanted, but I don’t know how that’s going to work. I do want to point out something that is not in the news that people should realize. NVIDIA’s dropped now about four more dollars than it did at 4 a.m. But if you go look at the missiles that the U.S. used in Ukraine, those are guided by NVIDIA chips. So you can say all you want that this is really about DeepSeek, but I’m sure that there’s some administration that’s about military. Because if you can get these chips souped up again, you’re going to be able to put them in missiles the way that all the missiles that we make have NVIDIA in it. I don’t think people realize it. […]

[On why you can’t own NVIDIA and Apple anymore] I was very depressed on Sunday because I said, look, I still want to own, but you can’t own them. You can’t own and not trade. You can’t because the government doesn’t like these. It’s about the idea that, well, first with NVIDIA, it’s the data center worries. […] And so far, it looks like it means absolutely nothing. And I was very sad about it, because I’ve been saying, you know, don’t trade. Own these stocks forever. NVIDIA, I know, since it was two. But I said, no, that’s it. You can own some, but you have to sell.”

Overall, NVDA ranks 13th on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.