CNBC's Jim Cramer critiqued Tuesday's massive semiconductor sell-off, saying some on Wall Street don't recognize the lasting importance of advanced graphics chips for artificial intelligence, especially ones from Nvidia .
Semiconductor companies saw their stocks plummet on Tuesday after ASML posted a disappointing quarter a day earlier than expected.
Cramer pointed out that the one bright spot in ASML's poor report was its sales of chips related to AI.
And according to Cramer, AI is a large part of the reason companies continue to invest heavily in nuclear power.
"In fact, it's only gonna increase, especially when tech companies and utilities are furiously trying to put up nuclear power plants to meet the energy demands of Nvidia's chips."
Persons:
CNBC's Jim Cramer, ASML, Cramer
Organizations:
Nvidia, " Semiconductor, Devices, Broadcom, Big Tech
Locations:
Dutch