Nvidia and Salesforce posted quarterly results that beat market expectations, weakening a bearish view that had surrounded the two companies. On Aug. 27, CNBC reported that Jim Cramer said their results overturned some of Wall Street’s main concerns.

Salesforce and Nvidia shares surged 22 percent and 8 percent, respectively, the day after their earnings releases on the evening of Aug. 26. Cramer said the results forced a fresh look at worries that had weighed on the two stocks.

A central concern around Salesforce was that as AI models improve, companies could do more work while buying fewer existing software subscriptions, potentially disrupting traditional software pricing structures. Salesforce shares have rebounded in the past month and a half, but were down 22 percent for the year up to the earnings release. The sharp jump this week recovered a significant portion of those losses.

Salesforce logged its strongest revenue growth in the past 4 years. Seat counts for its sales, service and Slack products all rose from a year earlier, and customer churn stayed near historic lows. AI-focused bundled product bookings more than doubled from the prior quarter.

Expanded cooperation with Anthropic also weakened the bearish view. Anthropic released Claude Force together with Salesforce, allowing Claude users to use Salesforce data for tasks such as drafting emails or updating records.

Concerns around Nvidia were broader. They included a slowdown in demand from hyperscale cloud companies, competition from custom chips, the pace of GPU value declines, possible delays to the Vera Rubin platform, and risks tied to funding AI customers.

Nvidia’s results showed a more diversified customer base. Hyperscale cloud companies accounted for about half of its overall business, with the rest filled by sovereign AI projects, neoclouds and other customers. Its next-generation AI chip, Vera Rubin, is also progressing on schedule. Chief executive Jensen Huang (젠슨 황) said Nvidia’s existing infrastructure can also maintain productivity for years through software improvements.

Amazon Web Services is developing its own AI chips while also planning to buy 2 million Nvidia GPUs and several million of the new Vera CPUs. Cramer said that decision shows why demand for Nvidia remains strong.

Cramer said Nvidia’s outlook was the most important point. Nvidia projected that fiscal 2028 revenue could grow about 70 percent. That far exceeds Wall Street’s estimate of about 45 percent. He said investors should look at actual results and demand rather than the market’s fashionable narratives.