"They're being tried throughout the cloud, and when you hear about machine learning, you are almost certainly hearing about the harnessing of Nvidia semiconductors," Cramer said.
Nvidia is also a leader in data. In a May 10 keynote speech, CEO Jensen Huang announced a new product coming this fall that harnesses the power of 400 servers, a landmark development that could drastically reduce the number of burning-hot servers in data centers.
Finally, Nvidia's chips are central to the gaming industry, used by hundreds of millions of gamers involved in eSports. The fastest chips available, Nvidia semiconductors help companies like Take Two Interactive make their games more lifelike, platforms like Amazon's Twitch.tv stream game-play live, and devices like the best-selling Nintendo Switch seamlessly run games.
In other words, Cramer sees the possibility for the stock to soar higher still in the future, despite Friday's somewhat drastic pullback.
"Some are comparing it to what happened to Intel where the stock went from $1 in 1987 to $66 at the top in March of 2000. That's a 6,500 percent return. If Nvidia were to emulate that course, it could go to almost $10,000," he said. "Now, I know that seems a bit preposterous, but it's what the bulls are secretly dreaming about."
The issue with Nvidia is its stock's relentless tear higher, which has been worrying some on Street who warn that the stock is arbitrarily rising every day on the same story.
Cramer, for one, advises buying stocks like Nvidia's when the market sees a pullback brought about by outside circumstances that give investors better prices, not simply buying a high-flying name because the Street's bulls have started to charge.
"Be prudent," the "Mad Money" host said. "It's not prudent to charge in every day and chase. Chasers get hurt and that's exactly what happened today. No need to chase. These names will come to you. That's when you make your move. The hottest stocks do cool down. They shake out the weak holders. And then they start all over again, and that's precisely what I expect the stock of Nvidia to do, maybe as early as next week."
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