tech

April 28, 2026

Cramer says the OpenAI-driven pullback proves recent rally was overheated

Jim Cramer said Tuesday's market reaction to The Wall Street Journal's OpenAI report shows that some AI stocks got overheated.

Cramer says the OpenAI-driven pullback proves recent rally was overheated

TL;DR

  • The market reaction to a negative OpenAI story indicates the AI rally was excessive, according to Jim Cramer.
  • Cramer believes a pullback was necessary to cool down overheated AI stocks, drawing parallels to the dot-com bubble.
  • A Wall Street Journal report questioned OpenAI's ability to sustain compute infrastructure spending due to missed growth targets.
  • OpenAI pushed back on the report, calling it 'ridiculous' and stating alignment on compute purchasing.
  • Cramer expressed confidence in OpenAI's long-term prospects and its CFO, Sarah Friar.

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