>> steve? >> so, my final trade is going to be a would you rather. so, i love lilly, but i would rather amgen. >> anyway. lori, thank you so much for joining us. thank you for watching "fast n'goy." dot anywhere. "mad money" my mission is simple -- to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to a special west coast edition of "mad money," welcome welcome to cramerica. other people want to make

friends. i'm just trying to make you some money. my job isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer. the promise of artificial intelligence, it's here, how about the profits, i'm calling them elusive. that's my take away from what i have seen at dreamforce, brought to you by salesforce. so many companies are going to be judged by how well they incorporate ai. controlled by this huge chasm between home and reality which seems as wide as the grand canyon. first, the dow slipped 70 points, s&p inched up .12%, nasdaq advanced .29%. we need to talk about the state of artificial intelligence. i came out to figure how much is hype and how much could be real. i matched with two dozen executives and i.t. professionals and i have reached a conclusion in search of an answer. my conclusion, the use cases for ai, i mean, the profitable ones almost entirely uninterested, unseen, soporific, they work.

they're invisible to the naked eye. this is an incredible technology for executives looking for cost savings. for everybody else, it's borderline meaningless, at least when it comes to earnings, for now, although it can be a lot of fun. let me make this point from the outset. artificial intelligence is the dominant theme of the market, the economy as a whole. senate majority leader chuck schumer bringing, meta's mark zuckerberg, and sam walton from open ai, let's talk about ai regulation, the richest people should not be lost to you. ai is too powerful to let you go unchecked. possibly a great deal, and if unchecked, not all good. but this show is not mad regulation. it's mad money. for us what matters is whether artificial intelligence can help or make companies money. it's a mixed bag for stocks. ai is already about to have a

profound impact on the bottom line. the operative term here is a bow. it's not having a big impact yet. why, well, turns out that harness ai is expensive up front, the only company that's making a fortune at this moment is nvidia. their chips are the up front costs, even for them it's not a cake walk. jensen huang spent billions of dollars over the years, developing this super fast, incredibly powerful graphics cars, and can handle data, and frankly implies something that's too big for our minds to comp tend. a lot of flops. you can't reap the benefits of exploring and questioning your own data. yes, you question in plain english. who can really afford them, amazon, meta, oracle, really gigantic. nvidia simply cannot make enough of these chips to meet demand. everyone else, though, they're just ramping up. they're just finding out, just learning and you don't get paid by customers to learn, so then

why have hope, simple because even though ai might be boring to the consumer, the enterprise use cases are so palpably obvious, businesses would be nuts not to embrace it. a huge number of employees, and a gigantic number of wasted hours. being used by big banks, can drop simple loan documents, freeing up a huge amount of time for loan documents to go out and write loans. there's a big chance to borrow might default. that will give you a helpful, more accurate answer than any person. billions of pieces of information that can give banks insight into potential default, what can they do? cut down the number of mistakes from the get-go, einstein understands all sorts of languages and doesn't need code to ask questions, there's a whole layer of people who can be laid off when the banks use the platform, low code, equals fewer expensive hires who produce no

sales. you can see a dramatic increase in efficiency at jpmorgan and bank of america. they're heavy users of this kind of technology. that's huge because right now banks trade more on efficiency ratios than any other metric, including so called net interest margin that everyone used to talk about. you might think making banks efficient is the most boring use case imaginable. insurance, what matters most to insurance companies, precise data lets them make precise decisions on who to sell insurance to and how much it should cost to them. take a look at the stock progressive, rocket ship. on fire. uses its own data more than any other insurance company, you can figure out risks more effectively than the smartest people in the industry. progressive makes fewer mistakes while writing insurance companies. probably a missed quarter, that's what stocks seem to be saying to me. it is among the least exciting stories as well. you can say the same for car dealers, who want to price in risk for auto fancy, a huge

savings. drug companies could save billions in research costs. the reign isn't big enough to process it. you take humans out of the equation, you let ai go to work, and drug companies will be able to make better decisions about whether to go not go forward with incredibly expensive trials. you can get perfect margin expansion which is what happens when companies replace nonrevenue generating employees with machines. machines that make far fewer mistakes and can pivot quickly if they do, unlike humans. most of my other attempt between the reality of ai and the height yield lots of once in a lifetime claims that ai can help every business. those claims need and were not backed up, that i saw, by results. i think salesforce has the ability to explode higher after showin far with what's seen. we're going to hear from one of

you, laura albert, the ceo of williams sonoma, later tonight. ai is helping grow sales. you need top line groewth. it knows to send enticements. a coffee maker to create fabulous espresso martinis and don't forget to add the bali williams is harvesting ai effectively. it neigh be a special case. for years the company has been a retailer, reaching you wherever you might be. not many others can make the claim or have enough digital data for you. perhaps the biggest winner might be, this is incredible. it might be the federal reserve. in the end, generative ai is about the waste and friction of commerce. it's about productivity, doing more with less. as jeff lawson, the ceo of twilio told us out here, it means getting ten times as much for 1/10 the cost. i like the ratios.

the fed loves to hear that. just what they needed after we saw a slightly higher than expected consumer price index. bottom line, the use cases for ai, they may not be exicited bu giving us a reason to buy high quality stocks. the productivity improvements show up in the numbers some day, not quite yet, but certainly soon enough to make the market go higher if it's used, and produce stocks that you can own for the long term. i'm taking calls. i'm going to luke in maryland. luke. >> hello. >> hello. >> so i was wondering, what are your thoughts on like the nike stock, is it a definitely buy, should i hold? >> nike is low energy, luke. it's got very low energy, and i don't see the stock doing much at all because frankly it has low energy.

bill in massachusetts, please, bill. >> professor cramer, booyah. >> i always like to get tenure, you have it for lifetimes that's what so great about it. don't even have to teach kids. >> i'm a second year club member, fourth time calling it, the access to you is incredible for club members, i love it. >> i wouldn't have set up the club if i didn't like to talk to the club members. i see people, you ought to join the club, they ask me about stocks, just join the club. how can i help? . >> i wanted to ask you about how and if ai could help dupont. >> that's a great question. and let me tell you, i'm going to give you an answer that's pretty straight. the guy who runs it is ed breen. ed breen is going to figure out a way. one of the smartest ceos in the country. if someone says to him, listen, and he's surrounded by young people, really smart. i think we can do well in medical devices if we use ai. he would say, okay, let's sit

down with benioff. he's a philadelphia yn, mario i new york. >> hi, jim. >> mario. >> good to talk to you. >> what's happening? >> jim, my wife and i listen to you all the time. you're our favorite guy to watch. >> thank you. >> listen, i have a question about a few months pack i was watching your show, and i noticed one of the stocks you liked was wing stop. >> yeah. >> it's had a couple weeks, i mean, it had a gigantic buy back, walked away, the food stocks are going not so good. people talking about it having a death cross. give me a break. wing stop is one of the -- try

to get one of the franchises, the toughest franchises in the world, expanding all over the country. i like them. the use cases may not be exciting, they're giving us one more reason for quality stocks. so far the stock has been hit in the last month. are investors getting a buy opportunity? they did double it if they had it on last time. and williams sonoma can add a dash of spice to your home. how about your portfolio, don't miss the company's top brass, and when we came to san francisco, we like to get to know disruptive climate technologies that can signal where the industry is headed. tonight i'm sitting down with the founder and ceo of discord. the social media app is shaking up the space. so stay with cramer. >> don't miss a second of "mad money" follow@jim cramer on

twitter. follow @jimcramer on twitter. have a question, tweet cramer, #madtweets. send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something, head to madmoney.cnbc.com.

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it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. the last time we checked in with sofi technologies, the stock had plunged to five bucks and change in response to wildly panned support, and the mini banking crisis. after speaking to ceo anthony dunham, i came just as close as ever. i hope you listen to the interview, because the stock quickly caught fire afterwards, sofi's stock jumped 20%, eleven bucks and change. you can see that's short coverings now back to nine. the last month has been hard hit by rising interest rates, and

wall street is not worried about long-term growth, profit taking involved. but remember, the stock doubled since we had anthony on, and to me, that's what matters, that's what in our business counts. sofi has erased the earnings. don't take it from me. let's take a closer look from the man who came on the show and answered tough questions, the stock had been trading 4545, he told us he wouldn't even issue equity. told us the quarter would be great and the year would be great, and you were dead right. you stood up to the short sellers, that matters to me. welcome back. >> thanks for having me. >> in a tough period for banking, you guys have grown nine consecutive quarters of revenue growth, about to become gap profitable. everyone else has gone the other way. you're going forward, how is that possible? >> it's possible because we have a one-stop shop for your financial need and we've seen strong demand for financial products, rising rates, a couple of banks going out of business. the fact that the cost of credit

card debt is higher and the opportunity to invest in new things have caused people to look for other options and because we are a one stop shop we're going to be at the top of the list. one of the products our checking and savings account, provides 4.5% interest, the ability of fdic insurance. which is important after the demise of two banks. you can spend as much as you want with no limit. >> you're a creative banker, none of those things is going to hurt your earnings. they're all going to be added because the number of clients you bring in. i'm going to ask this, you don't have to say, i speak for the other guys. your bank has real growth. they seem to be content with not growing their account base. how is that possible? >> we're able to grow because of a couple of reasons. one, we're going after a demographic that's been largely under served and we're giving them products that are going to meet their needs for the major financial decisions in our lives and the days in between. we can save them a considerable

amount of money through personal loans to offset credit card debt, which is rising and interest ratings, and the amount. and student loans at a lower rate if they qualify, and of course giving them great options, we also offer ipos and access to products they wouldn't otherwise get. >> here's what i don't understand, your fico score is 745. average income is 164,000. these should be the clients everyone wants. they come to you, even though you're new, you're not a bank that's been in business for a hundred years. there is something else that i'm trying. it's almost an ethos. i think people like being a member. >> we're mobile first, and we also pry this member relationship. when you use the products, a free certified financial planner, free career advice. all products are available on our phone, easily accessible at any point in time. pay when you want, how you want, and we're helping people get their money right, borrow better, save better, spend

better, protect better. >> you do something that people are concerned about. you mentioned in passing, people thought, oh my god, these guys are never going to come back. there's never going to be payments for a student loan. then rates go really high. you said you can help people get a lower rate, even though we know rates are high. >> one of the products we offer is unsecured personal loan. those with credit card debt are consolidating the variable cost debt over a fixed cost debt over a period of time. the student loan refinancing provides the same thing. you want to lower your monthly payment, you're able to do that via a lower rate or extending the term. there are tradeoffs with the decisions but we're giving people that opportunity to get their money right through a variety of different vehicles, and that's very appealing to them. >> are you doing anything with artificial intelligence that you can make these judgments about so many people? you have a huge membership to be able to make it so your risk is protects. >> sure. we're using artificial

intelligence in three ways, one, our technology platform, we enable 135 million accounts in the united states, and 8 billion transactions a year, we're using artificial intelligence for those partners to reduce the instance of fraud. we have a payment platform. >> you have a fraud alert system? >> machine learning and artificial intelligence and the data from 8 billion transactions that identify fraud at the transaction level. we're also using it in customer service, to reduce the number of contacts per customer in a product called connect. and we're using it on the sofi app itself to really personalize your home feed and answer three questions every day for you. what must you do in your financial life, should you do and can you do. because we have the breath of products, we have real solutions to real money problems, whether it's saving money or a better return on high interest. >> are any of these answers to those questions generative ai. it would be hard to come up, you have a team of economists that would ruin your bottom line?

>> we have a significant amount of people that are experts in computer science as well as data science, and we're using their knowledge and capability and this great data source to help train models. >> i know that a lot of pundits are saying, you know what the consumer is tapped out. brian moynahan disagrees with that. you sound like things are robust. >> we're stealing share from the big banks. we have been able to add $2 billion worth of deposits in each quarter, and we reported in q2, we remain confident that we could add 2 billion plus each quarter, and we're on track to do that. we're seeing the network benefits of having this large installed base. and the markets is more efficient and drawing better cross by, we started to see the compact, and we're seeing it continuing in q3. >> is it helped by the fact that you talked openly? you might be able to get some instacart. does that matter, ipos?

>> i can't mention any specific ipo. we have an ipo store, and ipos are available for those that want to get prices, and making it available to the common retail investor as opposed to high net wealth. >> the only deals that will not be hot, i mean, do you think you came out of a goldman back road, you know there are some deals people should want and some deals that may work out. are you going to be able to get in on deals that we know are meant to be hot? >> we have been pretty successful at participating in some of the more popular ipos over the last couple of cycles. we'll provide investors with a perspective to make their own opinion on whether those are great investments or not. we can't talk about them in broad media like this. i would encourage people to go to the app and look at the store, and see what's available with all the important considerations inside of that. >> you have smart members, can some of them who have good businesses come to you, and have you underwrite their ipo? >> we, in fact, are in some cases underwriters, and in some cases a selling agent.

>> it would be amazing, you know, you could be the bank of choice, you know how to do it really well. you would be able to have a great number of members who might want a piece of the deadeal. could be advantageous for everybody. >> we have an attractive base that makes great long-term investors. that's what we bring to the table. >> responsible in helping people, and that's a model you and i both know will always work in this country. sofi technology ceo and a person who came on the show when everyone felt his bank was going to do poorly. he said, no, i'm here to tell you it won't. and he backed it up with real numbers. we're back after the break. >> thanks, jim. coming up, investors are gaga for ai, tech, chips and furniture. cozy up to this company's plan to catch the couch potatoes napping. next.

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the last few months have been tough for most retailers, but not all retailers. wil williams sonoma owns west end and pottery barn, the company is supposed to be in rough shape. last month, williams sonoma reported a strong quarter, including tremendous margin growth and earnings, left the full-year earnings forecast unchanged. the stock jumped 13% in a single session and held on to the gains. now up nearly 24% for the year. close to a 52-week high. we're watching williams sonoma, it announced a partnership with salesforce, delivering more targeted and customized experience via einstein. the dream force spent a lot of time looking at booths, already good story into something more compelling. earlier today we spoke with

laura albert, the reliable president and ceo of williams sonoma, take a look. laura, welcome back to "mad money." >> good to be here. >> so marc benioff shows us around dreamforce, he makes a b line to the incredible set you guys have. he did not describe how you use einstein. >> it's awesome. i mean, we really have always been, as you know, a customer company. a company that focuses on service. and that's been in our heritage since chuck started williams sonoma 70 years ago, and, you know, so much has changed, but the thing that remains the same is service. and so what we're excited about with ai is the ability to accelerate our service initiatives. and so it's everything from how we sell, whether it's a personalized e-mail or on our site, we built our own auto recommendation engine that gives you an idea of something else you may like to also our design services, so i don't know if you know, but we have a 3d room

planner, and we're now feeding it with our best designers rooms, so that it helps you put things together when you're decorating your room based on other successful designs. >> what you may be doing because you're a digital first company, should have more data than probably anyone else in retail. you can suggest, i don't want to say that i don't have tastes but i would like to have my taste informed by others who have great tastes. i can get that. >> also, we're not just a furniture company, we're a life stage company. so whether it's first baby, wedding, first house, all of those things are celebrations of life that change how you live in your house, and also the seasonal holidays. and so these are all things that we want to be able to talk to you about, and if you're a big gift giver, and we know you like to drink tequila, we would like to proactively send you products that we think will delight you. >> proactively, so even without my -- >> yes. >> that's terrific. now if i'm back to school, and i

want to know what my dorm room should look like, you can help. >> yes, we love the dorm opportunity. it's been a big initiative of ours, because, you know, nobody is really doing it well. some people left the whole market, and it leaves a big open space for us to come in and give you soup to nuts, great quality product at a good value that all works together. >> now, one of the things i have seen your stock just a few points from its all time high, one of the things that marc has been stressing to me is companies have been able to use us instantly, not 2024, 2025, to get a good return on investment, and also build market expansion. it's good to have data, and have clerks figure this out. >> the other thing that's important with what's going on with margins for us. in addition to the regular price selling and focus on the right price the first time, we're also

improving our service model because last year, the pandemic caused so many issues with supply chain, and so we had to put our service on pause as we fought through what was a very difficult environment. and now we can not only, you know, expect more from all of our partners, but also we can take it to the next level and work on things with ai to make our service better, but also improve our profits. >> are you surprised that other retailers have been a little bit slower to pick up ai or they don't have the data you have? >> i'm not sure. you know, we've always, because of our large dtc percent to total business, we have been very tech oriented. we have always said we want to lead the industry in retail tech, and so we have a lot of great engineers working for us and data scientists, and it's in our dna to be entrepreneurial not just on product, but also on software. >> one of the things i saw, maybe this was from the pandemic, is i looked and i

happened to have the brevel coffee maker, and i have it everywhere, and it's unbelievable. 4:00 pickup by having an espresso martini, i see a sam spillman, a barista of great note, giving me virtual classes. you could comp me for one of those classes because you know i bought a bunch of these. >> and those classes are very effective. they really train people on things they're already interested in. back to your espresso martini. what a fantastic thing that is. >> i suggested it to you, you followed up with me. >> the company is so innovative, they're an example of a company that really thinks about what the customer wants and does things a little bit differently. >> see, one of the things that i think is -- that you're doing that most aren't is giving an instance of business-to-consumer for ai. most of the ones that i have

heard out here are an insurance company talking to an auto finance company. this is obviously the most, i think, sophisticated use i've seen of ai for individuals. you are quite unusual doing this stuff. >> i think it makes it easier to understand, too, right, what the use case actually is. i mean, if you're going to trust anything and you're going to use it, it needs to be helpful, it needs that value, and it can't do any harm. as we think about how we want to use it, we are trying to accelerate our initiatives to better serve you. >> now, one of the things that you taught me was during the covid period, if you wanted very quickly to turn a room into an office or another kind of room because you're working at home, you guys were ideal, and then, i guess, it hit a peak where you could only order so much. are things now coming back because it's very clear that the margins were, i don't know, among the best i've ever seen for your company. >> that was a really different

time for a lot of reasons as we all know. the world has forever changed. during that time, people bought a lot more because they were at home, but they also learned how to cook and the workplace, work at home environment is also forever changed so there's a lot of benefits that happened because of that time at home that now we're still building upon. of course people are buying services more. travel is up. and that's not unexpected, but it means that in the short-term you're going to see lower furniture sales. >> let me ask you, i know we covered 360. i see partnerships with four seasons, with westin, with hilton, those are no longer seasonal, and they're certainly not have anything to do with covid, other than the fact that people like to travel. that's a great core business for you. >> that's a business that we're really building. our business to business business. and it's funny, we used to say we want to improve your life at home, and now it's not just at home. it's anywhere you sit, anywhere

you sleep. >> wherever they are. >> wherever they need product, we're able to serve them. we're not just going to give you the bedding. we can give you everything from the glassware to the bedding to the furniture to the outdoor furniture to the restaurant table, and that's been, it's just been a rocket ship. we have a great team on it, and we have been designing into it, and we have all of these incredible partners, and yes, it's less cyclical, it's more, we hope to say an annuity, and it's something we've just begun. >> whether it be on the high end, you know, starting to see mitchell, bob williams or bed, bath and beyond. you're really the only game in town. you're able too do that, the lever leverage of the ai. laura albert, president and ceo of williams sonoma, wsm, we have liked you for a very long time.

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periodic trips to san francisco, we always like to check in on the new wave of innovators, privately held companies that could soon come public. earlier this week, we caught up with a company called discord, a new type of social media company, online style chat rooms, with much more functionality, including voice and video. if you're too wrong to get the aol reference, google it, if

you're as old as i am, you have to discord it. there are 50 disrupters, number 18, they started out focussed on the gaming industry but have expanded into all sorts of areas since then. i looked at their fantasy football, one of their rooms, i thought it was pretty smart. odds are you can find a discord server devoted to just about anything. they have got more than 1r50 million users. in early 2021 microsoft tried to buy discord for $10 million. they decided to stay independent. it's mentioned as an ipo candidate because the listing is coming back. we sat down with the founder and ceo of discord, i want you to take a look at this. >> welcome to "mad money." >> thanks for having me. >> jason, i got to ask you, the whole disrupters, you're number 18, i initially don't know. and then i go to younger people, and i find that they're either using it when i talk to them or can't believe they've told me over and over again, and i

didn't remember. so to jason cit rron, i need yoo explain what your company does, how it makes money. >> discord is a place to talk with your friends. it's a group chat app but a lot more fun and feels more like a virtual home where you get your friends together. we oeriginally designed it for people who play video games. >> including you. >> yes, including me. i spend a lot of time playing games with my friends and it was a real way for me to kind of strengthen my friendships and spend quality time with people in my life. that's what our mission is about. >> i'm trying to understand the anonymity versus the, you can't just go in, you have to reveal who you are, but you don't have to be seen. to me that's kind of a nicer softer version of twitter. >> discord is quite different

from twitter. it's really more about being in a space, we call them servers with your friend. discord does have large communities where you can go in and meet people around your topics or interests that you have, but most of the time, most people, perhaps like your kids, they're in a server with their friends and it's a place where they're like, you know, doing their fantasy football draft or studying together or playing video games. >> so you feel like krour you're in room together even though you're in different places. it's free, so that's terrific how you then get people to have a higher tier to pay because you got to make a living. your company is worth billions of dollars. there has to be some reason why we want to pay a billion dollars for it. >> we offer a subscription service, a premium tier experience. the basic experience is where you can come in chat, video chat, voice chat, have fun with your friends for unlimited time. and the base of the experience is free. if you want to pay us, a $3 and

$10 subscription service that is like a membership where you sign up, and then you get access to kind of premium experiences. you can imagine discord is all about having fun, if you're an actual subscribers, you can show off and customize yourself in a more fun way or get higher quality capabilities like a big thing people do on discord is they watch each other play video games or study together and kind of screen share. if you're a subscriber, you can do that in ultrahigh resolution. >> are people taking you up on it? >> we have millions of people paying for nitro. a healthy trajectory. i'm excited about that. >> i know you were in talks with microsoft. obviously you decided to stay independent. we know there's a giant ipo this week called arm and it's going to be very successful by all the chatter. does that -- will people come to you? will goldman call you and say, listen, we haven't talked to you in a while. morgan stanley, guys lining up at your door, instead of jayson

having fun, he has to go around the country. >> we're focused on having fun, building our business. >> that part i described is not fun. >> i haven't had the privilege to do that yet. what is fun is getting to wake up every day and create amazing software for people to talk with their friends. we're really focused on that, and microsoft has been fantastic for us, as we have gone on the journey. discord is available on your xbox, voice cat with your friends, stream games with xbox and discord. >> you have 150 million monthly active users. that is, again, also growing like your paid listings. >> that's right. >> and what kind of trajectory? i mean, is it growing so that i might be able to say 10% to 15% comp and annual growth. >> as a private company, we have those kind of things. we're excite about our

trajectory, discord has 150 million people that use our service to talk with friends. over 75% of our users are not in the united states. and, you know, over 19 million of these communities that people gather in, mostly smaller spaces with groups of 5 to 15 friend, hanging out and having fun. >> how do you try to figure out, i'm one of the most hated people on twitter, which i don't care. doesn't make me happy. >> x. >> i also did not leak intelligence documents. someone chose to leak intelligence documents in yours, i don't know, how do you feel about free speech on that kind of issue where it might be the equivalent of yelling fire in a crowded theater or putting the timetable of troop ships going overseas during war. how do you combat these things? do you need to combat them without necessarily losing the libertarian feel that i get from what you're talking about, which i like? >> well, we take trust and safety on our platform very seriously. about 15% of our work force is

dedicated to making sure that discord is a safe place. >> 15? that's a lot of people. >> if you're going to talk and have fun with friend, you have to feel safe. it's a prerequisite. >> if i complain as a human, as opposed to when i complain to other places and no one. >> if you hit report on discord, you have a team standing by. >> something happens? >> yeah, something happens. >> we publish a transparency report every year. >> that could hurt earnings. >> just joking. >> we believe. >> okay. >> you know, you're a delight. i feel like i'm both naive and too sophisticated for this one, i got to tell you. i wouldn't go public if i were you, but, i mean, look, i guess if someone twists your arm, maybe you have to, what do you think? >> we're focused on building a great business right now. >> stay focused, enjoy your life. there's my 2 billion cents. >> jason citron, i like the guy,

what can i say. "mad money" is back after the break. >> thank you, jim. coming up, the fog is rolling in. it's a big area of booyah lightning round next. next on "last call," ted cruz on the future of ai, and threats to free speech, plus, contract talks down to the wire, will a deal get done by tomorrow's deadline? "last call" next on cnbc. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening.

it is time for the lightning round. [ buzzer ] and then the lightning round is over. are you ready? the lightning round starts with martha in florida. martha. >> hi, jim, i'm calling about a

company that i really like and that i use all the time, but the stock price has really gone to the dogs. it's trading below its ipo price of 22 now, what are your thoughts on chewy. >> i'm astonishing it's doing this poorly because so many of us use it. it's astonishing. it was down 6 today, and i didn't see a negative story there. the whole pet combine is in the dog house. let's go to lee in ohio. lee. >> question about rtx, down about 25% ntsbin the last coupl days. >> stun. there's a credibility gap between what the company said about the problem with the engines and what's happening, and there's going to be a lot of bad air between the airlines and the company because the airlines are going to lose some flight time. no bottom yet. not yet. still sales at 15 times earnings, got to go lower. >> bill in massachusetts. bill. >> hello, jim. thank you, long time listener, first time caller. >> excellent. >> i wanted to get your thoughts

on st. joe. i own it -- >> i've liked st. joe forever, been to their properties a couple of times. i'm going to say kryes to that one. >> dave. >> booyah, this is dave, long time listener, first time caller. >> kplexcellent. >> thank you for taking my call and all you do for the individual investors, calling for your take on advanced auto parts. >> i like to buy best of breed. auto zone, azo, has been for the last ten years, i think that's the one you should buy. >> michael in michigan, michael. >> hey, booyah, i guess, jimmy, my genome sequencing stock, ilmn. >> i don't think it's a great company. i think it's a very good technology business, it is not a great company. dan hur is the one to buy, and that one is a bye bye bye, michael in new york.

michael. >> shalom, jim, those expensive nvidia chips need to be protected and connected and for that we have a great new jersey company, bell fuse. >> i know, but when we talk about the connection there, we tend to be thinking about cadence, cadence is stock owned but it's not. it's very expensive. >> ron in california, ron. >> hey, cramer. a great big heineken infused hundred degree desert, booyah to you. >> that's a kind of creative booyah, what's going on? >> how you doing? >> i'm all right, how are you? >> i'm great, man. hey, i just wanted to know if cava is going to be the next chipotle. >> see, they brought back one of those carne asada. i would rather own chipotle than cava, and that is the conclusion

of the lightning round. >> coming up, tech may be the bell of the ball, but our old school tools the right fit to fight inflation? stick with cramer. ♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪ partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf

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remember the diminished inflation story, what happened with that. we're in a tricky moment for the federal reserve and the economy. we have been all bulled up about the cooling off of inflation, but sometimes the facts don't fit the story. this morning we got a higher than expected consumer price index with much of that coming from higher oil prices, although there were some other pesky line items that went up unexpectedly, not part of the bullish narrative. why does it matter, the fed needs to tame inflation and cpi reading, it was not a tame one. i suspect the fed would like to see at least six months of tamed inflation in a row. we had two in a row today. now the streak is broken. it's from the ramp up in crude, but if we get another elevated reading, it's just going to be ugly. in the end, we need to see companies lower the prices. they won't ever do that unless they have too much inventory. 3m spoke about a slow growth environment, seemed to take

people by surprise. stock plummeted. we also need to see oil come down because it's starting to seep into the economy. look what happened, american airlines cut its forecast really brutal in part because of higher fuel costs, stock dropped 5.7%. spirit air fell a similar amount when it revised its numbers lower. i wonder if we don't have to have another whole round of pain from that group, dhs imwhich is important because the airlines are a predictor of the broader economy. mortgage rates are around 7.5%, which means we're bound to get a buyers strike in housing. rates go to a certain level. buyers saying i'm waiting. then we get an inventory build and the home builders have to cut prices. that's been the historic cycle. maybe it's being repealed. see if there's a huge bulge of inventory. is there such a shortage of housing that demand simply won't stop? the cost of a home isn't reflected in cpi, they took it

out a long time ago. that correlates with residential real estate and after this number, i bet jay powell would love to see a freeze to bring the cost of a home down, but i don't know if you can do it. next, as i said at the top of the show, i keep hoping that artificial intelligence boom will help companies become more productive, which is a euphemistic way of saying they could fire a lot of people in place of software. ai means they won't need as many coders, and coders are expensive. however, we're probably not there yet. the real break we need is not the mass roll of artificial intelligence, it's the high price of oil. american producers have reigned in spending, there's no cost of the saudis taking oil out of the market and the russians sending oil to china. can't do anything about opec plus. the bull won't keep running if the fed can't get inflation under control. we just might have to live with the trepidation that inflation will end up being brought down only because some of our companies have too much

merchandise on their hands so they need to sell at a loss. i still think we're going to beat inflation, still rooting and betting on powell. if we get more numbers like this morning, it might come at the expense of corporate profits, which is now how wall street likes to play out. there's always a ♪ ♪ right now on "last call," one room, 500 billion in net worth and what comes after the senate's historic ai summit. senator ted cruz was there and he'll be here. call it a shot in the arm. the biggest tech ipo in years debuting tomorrow. we have breaking developments on the investor frenzy. what the fda and the agency shocked finding around cold medicine during controversy. a stormy outlook hitting