Is the 1999 bubble making a comeback? Jim Cramer warns against blind investing in AI semiconductors

Jim Cramer warned that the AI chip rally, highlighted by Cerebras’ IPO surge, may be getting dangerously speculative.

He compared the mood to the 1999 dot-com bubble and urged investors to avoid hype-driven names.

Cramer said investors should focus on companies with proven earnings and reasonable valuations.

He pointed to established firms like Nvidia, Cisco, Micron, and Western Digital as better examples of fundamentals-first investing.