CNBC's Jim Cramer said that he's not worried about the market taking a breather because the artificial intelligence boom remains powerful enough to keep driving stocks higher.
All three major indexes closed lower Thursday after the tech-heavy Nasdaq Composite and S&P 500 hit intraday highs earlier in the session. The Dow Jones Industrial Average shed 313 points, or 0.63%, while the Nasdaq Composite fell 0.13% and the S&P 500 declined 0.38%. Still, Cramer said the pullback was healthy .
"We need a little rest. We want stocks to cool off," the "Mad Money" host said, noting that many AI-related names have made "parabolic" moves in recent weeks.
Despite growing concerns around slowing consumer spending, weaker hiring, and geopolitical tensions, Cramer argued the market's weakness looks more like a pause than the start of a prolonged downturn because the AI theme remains too strong to ignore.
"My faith in this market comes down to the opportunity to get you involved in what one of our guests tonight, Nvidia's…