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Jim Cramer says the AI sell-off isn't over, but it isn't another dot-com crash
CNBC's Jim Cramer says the AI sell-off isn't over, but it is not a dot-com style crash.
Key points
- Micron fell 17%, GE Vernova dropped 7% and Sandisk plunged 22% on Thursday, after all three were also crushed in Wednesday's session.
- Growing opposition to new data centers after the midterm elections has raised doubts about future AI infrastructure spending.
- Cramer said no one of significance is defaulting on debt, though smaller developers such as CoreWeave, Iren and Nebius face particular
Why it matters. Cramer said smaller AI developers that borrowed to finance data center projects could face regulatory delays, though he described the debt problem as not enough to sink the market.
CNBC's Jim Cramer said Thursday that the AI stock sell-off likely has further to run, but he urged investors not to panic. Opposition to new data centers after the midterm elections has raised doubts about AI infrastructure spending, and Micron fell 17%, GE Vernova 7% and Sandisk 22%. Cramer said CoreWeave, Iren and Nebius face particular risk because they borrowed to fund projects that could face regulatory delays.
Latest updates
Jim Cramer says the AI sell-off isn't over, but it isn't another dot-com crash
Cramer warned that the sell-off in AI stocks likely has further to run. Monday - Friday, 6:00 - 7:00 PM ET Mad Money Published Thu, Nov 5 2026 6:17 PM EST Key Points CNBC’s Jim Cramer warned that the sell-off in AI stocks likely has further to run, but said the downturn is different from the dot-com crash because many of today's hardest-hit companies have profitable businesses. Cramer urged investors to maintain sufficient cash and not to panic. watch now The steep sell-off in artificial intelligence stocks likely has further to go, CNBC's Jim Cramer predicted Thursday — but he urged investors not to panic. Growing opposition to new data centers following the midterm elections has raised doubts about future AI infrastructure spending, sending shares of companies tied to the buildout sharply lower. Micron tumbled 17%, GE Vernova dropped 7% and Sandisk plunged 22% on Thursday. All three stocks were also crushed in Wednesday's session. "I wish I could say that today's flush was the bottom," the " Mad Money " host said, before cautioning that there may be more downside ahead, though he didn't believe this was an internet bubble redux. Cramer argued that today's AI companies are fundamentally different from the speculative businesses that collapsed during the dot-com bust. "But I look at the charts, and there still seems like there's no support for so many Tech stocks, especially th.