Jim Cramer analyzes Nvidia share price after Anthropic CEO calls for AI slowdown

Nvidia shares dropped four points on September 14 after Anthropic CEO Dario Amodei published an essay calling for a systematic slowdown in AI model development. Jim Cramer weighed in on the dip, calling NVDA a stock worth buying, but with a caveat: wait for it to fall further.

His reasoning centers on what he considers insufficient buyback programs from Nvidia, a factor that limits the downside protection investors might otherwise count on during moments of turbulence like this one.

The Amodei paradox

Amodei’s essay, published around September 12-13, laid out the case for pacing AI advancements more carefully, citing safety concerns and risks tied to rapid technological leaps.

But here’s where it gets interesting. Anthropic itself has committed to roughly $517 billion in compute spending through August 2026. That money flows directly into the pockets of companies like Nvidia, whose GPU infrastructure underpins virtually every serious AI research lab on the planet.

Nvidia CEO Jensen Huang has been open about how the Anthropic relationship is deepening. Grace Blackwell system shipments climbed 27% month-over-month, a pace that suggests demand isn’t just sustained but accelerating.

Nvidia’s demand picture remains staggering

The company reported a backlog of orders exceeding $2 trillion in its Q2 results. That’s roughly equivalent to the entire GDP of Italy sitting in a queue waiting for GPU shipments.

The 27% month-over-month increase in Grace Blackwell shipments demonstrates that Nvidia’s latest-generation systems are ramping faster than previous product cycles.

Safety rhetoric vs. spending reality

Cramer’s broader point about buybacks deserves attention. Nvidia’s repurchase program, relative to its market capitalization, hasn’t kept pace with what investors in a stock this dominant might expect. Without that cushion, dips triggered by external commentary can extend further than they otherwise would.

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