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Jim Cramer says Nvidia-led chip rally continues as bull market enters third year

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Shares of the leading maker of AI chips soared more than 1,000% over the past two years.

CNBC's Jim Cramer on Monday marked the two-year anniversary of the current bull market with an ode to Nvidia and the U.S. semiconductor industry. "We have a remarkable semiconductor rally, and it is at the heart of this market," Cramer said on "Squawk on the Street." "One of the reasons why it's so great is the dynamism of American capitalism is in semiconductors.

mountain 2022-10-12 Nvidia's stock performance compared with the S & P 500 during the two-year bull market, which began on Oct. 12, 2022. Nvidia, whose chips were used to train ChatGPT on massive amounts of data, saw a massive influx of orders, leading to its soaring revenue, profits and stock price. As of Monday, Nvidia is the second-most valuable company in the world, at $3.4 trillion, behind only Apple, which is worth $3.5 trillion.

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