# SpaceX gives Nvidia a much-needed boost. Plus, Cramer on an 'undervalued' stock — retained record

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source: [news](https://highsignal.app/data/news) (news:cnbc-tech)  published 2026-08-05 15:50 ingested 2026-08-06 08:33

[original source ↗](https://www.cnbc.com/2026/08/05/spacex-gives-nvidia-a-much-needed-boost-cramers-undervalued-stock-.html)

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SpaceX gives Nvidia a much-needed boost. Plus, Cramer on an 'undervalued' stock
Published Wed, Aug 5 2026
11:50 AM EDT
Alexa LoMonaco
@in/alexa-lomonaco/
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. Stocks rose Wednesday , with the S & P 500 and Dow Jones Industrial Average reaching intraday record highs driven by another round of strong corporate earnings and optimism over a potential reopening of the Strait of Hormuz. The three major indexes are tracking for their best five-day performance since April 2025. Oil prices fell on reports that the U.S., Iran, and Oman were working on an agreement to manage ship traffic in the Strait of Hormuz. Jim said lower oil prices have become an important catalyst for the broader market. "I don't know whether that's right. As a matter of fact, I think that we shouldn't be investing like that," he said. 2. Shares of Club holding Nvidia climbed nearly 4% after SpaceX CEO Elon Musk said the company will build its artificial intelligence infrastructure " exclusively on Nvidia " because it believes the Vera Rubin architecture is "the best AI computer." Jim said the endorsement reinforces Nvidia's leadership in AI infrastructure, even as some large cloud providers invest in their own custom chips. He also remains bullish on SpaceX's long-term outlook , arguing Elon Musk's vision of deploying AI data centers at scale creates a compelling growth story. "I would give my kids this stock," Jim said. "This man is a visionary." 3. Club holding Honeywell Aerospace reports earnings Wednesday after the close. Jim said the recently spun-off company "is probably the most undervalued stock we have" in the portfolio. Honeywell Aerospace designs and manufactures the key components for planes to fly, navigate, and operate safely. Although supply chain challenges have weighed on growth, Jim thinks the market is overlooking the quality of the aerospace franchise because many investors sold their shares following the spin-off on June 29 instead of evaluating the business on its own merits. Shares are down roughly 1% since the spin-off, trailing the S & P 500's roughly 4% gain over the same period. 4. Stocks covered in Wednesday's rapid fire at the end of the video were: Disney , Uber , CVS , Elanco , and Arista Networks . (Jim Cramer's Charitable Trust is long HONA, NVDA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
More In Morning Meeting
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Wednesday, August 5, 2026: The Club wants to pick up shares of this legacy tech giant
Jim Cramer weighs the next move after massive rallies in two tech stocks
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document fetched 2026-08-06 08:33 · canonical https://cnbc.com/2026/08/05/spacex-gives-nvidia-a-much-needed-boost-cramers-undervalued-stock-.html