Jim Cramer has once again sparked conversations, this time weighing in on the recent surge in Palantir Technologies Inc. (NASDAQ: PLTR), noting that meme traders are pushing the stock higher each day.
During a recent CNBC segment, Cramer discussed the broader trends in the AI data center industry. Despite earlier market skepticism, Cramer pointed out that earnings reports from key companies connected to AI infrastructure reveal continued strong demand.
“Now that earning season is well underway, we’ve heard from a bunch of companies connected to the AI data center theme, and you know what? They’ve been putting up pretty darn good numbers,” Cramer said. “It’s almost like there was never anything wrong with the AI infrastructure story in the first place.”
Palantir: Meme Momentum or Solid Fundamentals?
When asked specifically about Palantir Technologies, Cramer gave a colorful assessment:
“The meme guys are pushing it up every day. They push it up in the morning. They usually start around 3:30. I get up earlier than they do, so I watch them do it. And it just blossoms each day. What a blast. The manipulation is incredible. But you know what? In the new regime, it’s just called solid buying.”
While Cramer acknowledges the meme-driven surge, he doesn’t dismiss Palantir’s potential outright. In fact, institutional interest is notable. Palantir currently counts 43 hedge fund investors among its supporters, according to recent filings. The Baron Asset Fund also highlighted Palantir positively in its Q4 2024 investor letter, signaling long-term confidence.
Broader Market Sentiment Remains Cautious
Cramer also touched on broader market dynamics, explaining that Wall Street remains skeptical — especially with policy uncertainties and ongoing trade tensions looming large. However, he remains optimistic that the combination of de-escalation efforts on tariffs and strong AI infrastructure demand could pave the way for stock price recoveries.
“Looking at what we’ve seen so far this earning season, I’m feeling much more sanguine about the story, especially if we get some more trade war de-escalation from the White House and stocks stay as cheap as they are. And man, are they ever cheap,” Cramer said.
For investors eyeing Palantir, the message is clear: meme momentum is undeniable, but fundamentals and hedge fund interest suggest there may be more to the story than just online hype.
