Jim Cramer, of CNBC, predicted on Thursday that there could be further declines in the sharp selling of artificial intelligence stocks, but he urged investors not to panic.

After the mid-term elections, opposition to the new data centers continued to grow, which raised doubts in the market about future infrastructure spending for AI and led to a significant decline in the stock prices of companies related to the construction boom. Micron Technology fell 17% on Thursday, GE Vernova fell 7%, and SanDisk plummeted 22%. These three stocks also suffered heavy losses during trading on Wednesday.

“I hope I can say that today’s sell-off marks the bottom,” said the host of Mad Money, but he also reminded that there may be more room for decline ahead. However, he does not believe this is a repeat of the internet bubble.克莱默认认为 that today’s AI companies are fundamentally different from the speculative enterprises that collapsed during the internet bubble burst.

"But when I look at the charts, many tech stocks still seem to lack support, especially semiconductor stocks, as they have risen too much during the upward trend. Regardless of how it feels, this is actually a orderly decline. Unlike in 2000, most of these companies are now highly profitable, it's just that their stock prices have gone up too high."

Cramer said that investors have pushed the price of AI shares too high because they assume that the rapid pace of data center construction will continue indefinitely. Developers of smaller scale, such as CoreWeave, Iren, and Nebius, face particularly large risks, as they have borrowed money to finance their projects, and these projects may now face regulatory delays.

"That's exactly what I'm most worried about," he said. "That's the real problem. That's where there's a real possibility of harming the stock market... So far, no company with significant influence has defaulted on its debts. The only issue with debt is that it relates to those neocloud companies I just mentioned. That's not enough to bring us down yet."

Cramer stated that a rapid sell-off might be more conducive to the market digesting the excessive optimism during the AI craze than a prolonged decline.

“I’m personally very happy that they are quickly removing the band-aids from the market, rather than slowly removing them bit by bit every day,” he said.

For investors, Kramer suggests maintaining sufficient cash. He believes that semiconductor stocks may continue to fall, but signs of declining interest rates, slowing inflation, and the potential end of the Iran war are all reasons for optimism.

“If you have cash on hand, you won’t panic,” Klermer concluded. “And you won’t become complacent either. You’ll stay alert, which means you’ll lose less money until the situation improves. Things always get better.”

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