"Own it, don't trade it."
Jim Cramer didn't exactly mince words on CNBC's "Mad Money" when dropping his take on Nvidia ( NVDA ) stock.
His curt five-word verdict cuts through the noise swirling around the market's most talked-about AI bellwether.
Nvidia stock, in particular, has been under major duress due to China restrictions, chip shortages, and major analysts calling out its red-hot rally.
For perspective, Nvidia stock is down 1.7% in the past month. Though that seems minuscule, with a company as big as Nvidia, that's somewhere between $80 to $100 billionshaved off.
Yet Cramer argues that investors should look at the bigger picture, particularly Nvidia's potent track record and the long-term demand driving its hardware.
Investors, he says, are getting pushed to a corner due to fear, even with its fundamentals telling a completely different story.
The Street says one thing, Nvidia says another
Cramer telegraphed his point on Nvidia straight away.
He argues that Nvidia is perhaps the perfect example of that disconnect.
For months, the company has been saying that China isn't at the center of business, yet virtually every hiccup or export restriction has Wall Street sweating.
In a recent CNBC interview , CEO Jensen Huang even urgedinvestors to treat China as "a bonus opportunity in the future," saying that Nvidia's "demand is really strong" even without that market.
However, when the U.S. just approved sales of the H200 chip, the reaction was mostly a shrug.
That's where Cramer loses patience, saying that the idea China doesn't want the H200 chips anymore is "totally untrue," while pushing back on the narrative that the win isn't significant.
U.S. green-lights Nvidia's H200 exports to China
On December 9, 2025, President Donald Trump finally green-lit Nvidia's H200 AI processor shipments to "approved customers" in China, CNN reported .
Under the new deal, 25% of related saleswill be returned to the U.S. government, with every shipment subject to a more stringent national-security review.
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An important caveat is that Nvidia's top-shelf Blackwell chipsare still off-limits for now, but, as Cramer said, the H200 isn't some watered-down alternative.
Built on Nvidia's robust Hopper architecture, it's a flagship data-center GPU that packs a whopping 141GB of HBM3e memory along with 4.8 terabytes per second of bandwidth, almost 50% higher than its predecessor.
That insane leap offers cloud platforms and the biggest in the Chinese tech space to deploy massive large language models with fewer chips, quicker speeds, and remarkably better energy efficiency.
Key milestones in the run-up to H200 approval
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Oct. 7, 2022: The U.S. Commerce Department announced major export controls on advanced AI chips and tools headed to China.
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Oct. 2023: Washington tightened those curbs, extending limits beyond Nvidia's H100 to other high-end AI accelerators.
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Dec. 2024-Jan. 2025: Final Biden-era rules expanded licensing and re-export checks.
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Aug. 2025: According to CNBC reporting , Nvidia halted production of its H20 China-only GPU after Beijing quietly advised local companies to steer clear of the chip.
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Dec. 9, 2025: President Trump authorizes H200 exports to "approved" customers in China, with a 25% revenue share for the U.S., with Blackwell GPUs still banned.
Beijing's new chip champions are Nvidia's real threat
Washington's looking to sell the H200 chips as a careful middle ground, but China isn't backing down in honing its domestic chipmakers to rival Nvidia.
Recent reports indicate that Beijing is investing substantial funds in homegrown rivals, which means that Nvidia's real competition in China is coming from state-backed challengers racing to close out the gap.
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Huawei (Ascend series): Pitted as China's most advanced Nvidia rival, with Huawei's Ascend 910C and its upcoming 950/960 roadmap designed to power the most demanding language models across domestic clouds and government workloads.
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Moore Threads: Branded "China's Nvidia," this Beijing GPU maker recently pulled off a blockbuster IPO , surging over 400%, while underscoring how aggressively local capital is backing a local AI chip manufacturer.
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Biren Technology: A sanctioned startup whose BR100 and BR106 GPUs target data centers and Chinese foundation models, and which is backed by state-linked money, along with major partners the likes of Tencent and China Mobile, to clip away at Nvidia's market share .
Related: Morgan Stanley tweaks Tesla stock price target with a twist
This story was originally published by TheStreet on Dec 10, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
