Jim Cramer: NVIDIA (NVDA) Would Face 'Endless Hectoring' Over $63 Billion Anthropic Deal

Cramer's Verdict on the $63 Billion Deal

Jim Cramer put his weight behind one of Wall Street's boldest AI financing structures on Tuesday, calling the $63 billion package from Broadcom “excellent for all involved” while arguing NVIDIA (NVDA) would be savaged for the same playbook. In a post on X published on Tuesday, the Mad Money host wrote that “the press would never stop hectoring Nvidia if it did this deal.” The structure behind the comment is unusual: Wall Street lenders pay for Broadcom's chips, which Anthropic then rents rather than buys outright. Broadcom also shoulders part of the lenders' risk, leaving its shareholders exposed to whether the AI lab can keep up payments. The money moves through a special purpose vehicle, a standalone entity created solely for this transaction; the SPV buys Broadcom chips and data center equipment, then leases the hardware back to Anthropic. Bank of America, Blackstone, Citigroup and Morgan Stanley announced the finished package on Monday, after the financing came together over several weeks. Broadcom gives its lenders residual value support as well, covering part of the loss if the hardware is worth less than expected when the leases run out. What share of a lender's loss Broadcom would absorb is not detailed in the announcement. The critique Cramer is engaging with has a name, circular financing: suppliers that fund their customers, who then spend the money buying the suppliers' products, a loop that makes genuine demand hard to measure. Commentators point out that Broadcom, Amazon, Microsoft and Google all fund Anthropic, which then spends much of that money on their services, sending part of the cash flow back to the backers. Cramer's point is narrower: the risk looks acceptable when Broadcom takes it, while an identical arrangement from Nvidia keeps the company under fire.

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Why the Comparison Lands on Nvidia

The division Cramer draws has a business logic under it. Broadcom's AI chips are mostly custom designs built for single clients, such as Google's Tensor Processing Units, whereas Nvidia sells standard processors across a broad customer base, which is why its funding arrangements draw the louder objections. The customer-specific model contrasts with Nvidia's merchant approach, in which every major AI lab buys the same chips. Chipmakers increasingly act as lenders because AI labs need more hardware than they can pay for upfront, and the Broadcom-Anthropic arrangement therefore ties chip stocks to the credit of their largest customers. The package also stacks on an earlier commitment: an early-October report citing Anthropic's IPO prospectus stated that Broadcom agreed to lend the AI firm up to $42 billion, and neither that report nor Monday's announcement explains how the loan connects to the new bank-funded structure. The exposure carries extra weight because Anthropic's junk credit rating sits one notch below investment grade. That rating leaves little room if hardware values fall short once the leases expire. Nvidia's own entanglement with the same debate is a matter of record. Its shares fell in August when a reported $500 billion Wall Street AI deal surfaced and critics flagged the circular structure, and in that same month the company agreed to guarantee up to $105 billion of OpenAI data center leases, an amount that binds the chipmaker's balance sheet to one customer's buildout. The risk stretches across the sector: in May, OpenAI reportedly hit a chip financing snag tied to its own Broadcom partnership. The result is a market where the largest chipmakers now underwrite their biggest buyers, and the question of who gets criticized for it has become as contested as the structures themselves.

NVDA Between Two Scored Levels

COINOTAG data shows NVIDIA (NVDA) trading at $218.94, up 1.02% over the past 24 hours, still below the $219.46 resistance that COINOTAG's composite scoring rates 92/100, a level built on the 20, 50 and 100-day moving averages. The nearest support underneath, $215.12, carries a 98/100 score, and the past day has tested it once: the 24-hour low of $214.96 dipped marginally through the level before the price recovered. Positioning stays light, with open interest on the stock perpetual at about $96.5 million and the daily RSI reading 46.4, leaving the stock boxed between two strongly scored levels while the financing debate runs.