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Markets are trembling amid the latest AI stock sell-off, which has sent shares of major AI players deep into the red. But CNBC's Jim Cramer believes the downturn is not another dot-com crash. Cramer warned that AI stocks could fall further, particularly semiconductor companies whose shares surged during the AI boom. However, he argued that unlike the speculative businesses that collapsed in 2000, many of today's AI companies are highly profitable. His biggest concern is smaller AI infrastructure companies such as CoreWeave, Iren and Nebius, which have borrowed heavily to finance data center projects that could face regulatory delays. Before the election too, Cramer was more careful about tech.
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