by the way, scarsdale high school, all three in the scarsdale hall of fame. >> scarsdale, new york, by the way. >> spr, melms. still goes higher from here. >> thank you for watching "fast money." see you back here tomorrow at 5:00 for more at 5:00. meantime, do not go anywhere. "mad money" with jim cramer starts right now. my mission is simple. to make you money. i'm here to elf will the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer. faith is hard to come by on wall street. we have a tendency to be jaded. we think we're always being tricked or lied to or flat out

bamboozled. s so on a day when the dow slipped just two points, s&p gained and the nasdaq pole vaulted 1.68% -- ♪ hallelujah ♪ i want to explain what happens when we stop thinking that everyone's trying to bag us and start trusting the people who deserve it, the ones who've earned our trust. i think that's the key right now to making big money in the market and many people are missing it. why don't we start first with the fed chief, jay powell? here's a i go who doesn't get any credit for anything. he is the rodney dangerfield of central bankers. he's constantly being second-guessed, like he's clueless. that's just plain moronic. powell's a pragmatic individual who doesn't surrender to politics or orthodoxy. he's the least promotional public figure in america today. he had to deal with a once-in-a-lifetime pandemic which caused elected leaders to spend money like crazy.

he accepted it. he never bemoaned it. when he realized the pandemic was under control he raised rates 11 times to stamp out inflation. each time inflation snapped back so he had to keep tightening. he realized there could be negative consequences if he didn't stop. that's right. we're now in a situation where inflation has cooled, cooled dramatically, even if it's still too high, and we also have an aband absurdly strong job market. it's just too strong to justify cutting rates. so it's time for powell to stand pap pat and see what happens. there's nothing wrong with that. we have such low unemployment that he can afford to play for time. what can i say? he's created a very positive situation where business is good and many of the key inflation inputs will come down naturally on their own. more on that later. and if unemployment spikes, guess what, he's ready to bail us out with rate cuts. what more can you ask for? unfortunately, powell hasn't earned the trust that i think he deserves. part of that's because he allows a degree of free speech from his

fellow fed officials. that's ill-advised, sir. they, his own colleagues, end up publicly but obliquely second guessing his every move. even if that's not what they intend. but that's how it seems because the media always mag nnifies thr comments and gins up faux controversy for more exciting headlines. fortunately, powell's got a thick skin but the skepticism makes for rough sledding. it doesn't help that the latest seemingly overheated cpi reading was i felt misleading. something his critics will seize on because they want powell replaced by someone more ideological. it's an unholy situation. but you know what? if you had faith in jay powell and just ignored all the noise you could have made a great deal of money during this period. isn't that what would have happened? there are so many strategists who can't hold a candle to this man yet they pontificate as if he's a be suboptimal fed chief. faith in powell, he deserves it. who else deserves our trust?

well, how about jensen huang from nvidia? for the last five days we've had to hear about how major players like amazon, and meta are coming up with their own chips. while intel comes up with a competitive product. the news, let's p ut quotes about that, created a presumption these key clients are moving to distance themselves from the company and break jensen huang's stranglehold on the super gpus. if only they could. think about when i lafrt interviewed jensen. i asked him directly about this competition multiple times because i knew it was coming. each time he made something clear, wen, these companies will remain great clients. two, he can't produce enough chips to satisfy demand. and three, he's doing his best to help these clients develop these kinds of semiconductors. he can't understand what's the big deal. he comes in peace. who's jensen huang? he's a visionary who's delivered on every promise and create aid

$2.3 trillion colossus. along the way he's been doubted as if he were some sort of alchemist, three-card monte dealer. all i hear right now is he's the man behind the ai bubble as if this is the dotcom period again, 1999, maybe 2000. that kind of thinking has kept people from making fortunes in the stock of nvidia. what the heck did jensen and his team need to do to earn your trust? how much value does he need to bring out, to create before people realize that doubting infieldia has in fact been a very poor decision? he's not the con artist. you know who's the con artist? the bears are. oh, and those claims intel's got the better chip? how dare they? finally, there's apple. today we learned apple's going to refresh its whole mac line-up of computers with its own ai chip. this -- talk about a non-promotional guy that's what tim cook is. i've come back and argued you need to have faith because this

team will come up with something great. that's what they do for a living. that will allow the growth to come back. i told you that because apple, that's what they do. of course the myriad apple bears will come out tomorrow and say oh, it's just the mac which is not -- if they can put these ai chips in the mac then they can do it to the iphone. more important, if something else needs to be done to ignite growth, guess what? i think it's time to have faith that tim cook will come up with it. so far my analysis of all three people has been correct over the long haul. otherwise, apple and nvidia and in the case of jay powell the entire stock market would be much lower. i have faith jay powell will fly the plane wherever it has to go. he's done it before. he'll do it again. with the only real turbulence coming from the condoning of absurd interest rate predictions from his colleagues. they should just say no comment when asked after getting how wrong they are. i have faith jensen huang won't be crushed by its own clients.

instead it will help by coming up with less powerful chips that are still compatible with nvidia's product line. i have faith tim cook will come up with a growth strategy for apple one based on technology that we love, we love, because there are medals literally millions of smart people who write apps for any kindof apple hardware. growth will return. my positive track record on jay powell or my own it don't trade it philosophy on nvidia have lost you fortunes you can knock me all you want. if my faith has been punished, well, you're free to change the channel, turn me off, watch netflix. i don't care. but right now i think i'm money good with these calls. to critics i say to them show me the money. bottom line, don't scoff when i tell you to have faith in these people who've made us all fortunes. it's the skeptics who've been wrong. the skeptics year after year after darn year. even if you don't want to have faith in jensen huang or tim kite think they deserve more trust than the bears purely on the basis of track records.

and the bears, you know what they do? they show you the honey. you know what i do? i show you the money. last i looked the banks only take the latter. let's go to joe in illinois. joe. >> caller: jim, ba-ba-boo-yah. rsrg. intuitive surgical. >> they're smart fellas. all they do is raise numbers. i thought they were in the raising numbers business. but it turns out what they are in is in the hospital business. and they are crushing it. they have the best machines they are. sorry, i like ge health care too. it's in my charitable trust. michael in indiana. >> caller: from the friendly hoosier state. home of eli lilly. >> i like eli lilly. i'm looking at eli lilly to be the next trillion-dollar stock. what's happening? >> caller: i wanted to let you know that i just joined your investing club two weeks ago. >> oh, fantastic. >> caller: and you know, for what you're offering for less than a dollar a day it's a

steal. >> oh, thank you. thank you. that's terrific. thank you, michael. what'sgoing on? >> caller: hey, i wanted to talk to you about this well-known stock that was just recently around 195 but it's recently taken a beating. it's p/e, dividend yield and net margin are allvastly superior to one of your favorites, chipotle. what are your thoughts on mcdonald's? >> okay, mcdonald's raised their price too much. that's one of the things i saw in the cpi number yesterday i didn't like. i think mcdonald's has contributed to that. they have to pull back prices. nobody in this business ever wants to lower prices. this is time for what we call a philip morris moment for mcdonald's. they have to do something they did in the '80s where they lowered prices wiped out all the competition. mcdonald's should come out tomorrow with a $2 happy meal that has everything in it, they'd crush the competition and we'd all go to mcdonald's. they ought to take that position. i'm right. they have to do it. bill in massachusetts. bill. >> caller: boo-yah, jimbo! >> oh, man, what's going on? >> caller: how are you today?

>> today's just a dynamite day. probably one of the better ones i've had in the last three. >> caller: you know, jim, you've affected my trading so much now i enjoy when the market goes down because i know i'm going to get a bargain on these incredible companies. >> well, you're a sadist. but i share that sadism. i love that view. >> caller: i used to panic every time. i'd sell everything, sell, sell, sell. thank you. >> okay. >> caller: my question is on meta. i call them the three horsemens. meta, google and amazon. they have more data on americans than any companies in the world. and i think that in this ai these three companies could be big. i'd love to see what you think about meta. >> i'm a zuckerberg believer. when it wasn't cool i was a zuckerberg believer. but i have to tell you i think meta can go much higher because the multiple's not that tie and

i think instagram's still early. and if the government ever removed tiktok you'd be paying $700 for meta. but the government is against tiktok as it is in every other aspect i see. you have to have some faith in the people who've made us fortunes. at least they deserve more trust than the bears. based purely off their track records. on "mad money" tonight there's a lot of players in the artificial intelligence space besides nvidia, you know. how about marvell tech which hosted a special ai event right here in new york city today? then the alcohol industry might be -- but you wouldn't know that from looking at constellation brands. i'm looking at that club name with the ceo. and you might know it as a pandemic darling but docusign has a lot more going for it than that. i'm hearing more about the company's new era and outlook with the ceos. and you don't want to miss it. so stay with cramer!

>> announcer: don't miss a second of "mad money" follow yl jimcramer on x. have a question? tweet cramer. hashtag mad mentions. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall.

i don't want you to move. constant contact. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place,

right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with xfinity. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit...

unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. everybody knows nvidia's ultra fast gpu chips are the basis for nearly everything related to ai. but there's a lot more to ai infrastructure than just one company. take marvell technologies. look, this is from the pure play semiconductor company that now also makes advanced networking equipment. exactly what you need to help data move fast er throughout al kinds of hardware. for ai you need vast quantities of gpus wired together to increase the overall computing

power. and it's marvell's ultra fast optical int connects that make this happen. when they report a little over a month ago results were okay. even he no the data center business is on fire other divisions aren't. ai-related i think is much bigger. so that's what we should be focused on. long term the non-data center businesses should come back but for the time being we need to ask ourselves if the ai opportunity is big yuf to offset the weakness everywhere else. today marvell hosted the ai era event in new york where they scaled out the opportunity in great detail. let's go straight to the source with matt murphy straightshooting chairman and ceo of marvell technology. welcome back to "mad money." it's been way too long. >> the it's r it's been way too long. thanks for having me. >> absolutely. you know we love nvidia. but there's more players than just nvidia involved. when i look at the total market and i think r. look at what you're doing i'm thinking you're about as close to nvidia as we can get. >> yeah. we just had our ai event today

as you mentioned and we said that we would be the most exposed and levered company to ai except our friends at nvidia. >> how is it possible that optical interface could be as big? and what is the total addressable market of ai and then you? >> sure. the interconnect as we call or connectivity is crucial to the deployment of ai systems because if you think about it all of these computers, gpus, accelerators, whatever you want to call them, the connective tissue around those computers, those brains is the connectivity and it's all driven today by high volume, high reliability optical connections. so the way to think about it is you've got gpus that need to communicate with each other, clusters that need to talk to each other, communications inside the data center. that's where we come in. so we partner with all of those companies on that. >> including we saw the introduction to blackwell, their

next generation comes out in september. i presume you're there too. >> yeah, we're involved in our connectivity business, im, with every major gpu and accelerator deployment that's occurring today. >> okay. i know you also have a weaker end market. that's a very cyclical business. you've been very forward that that is going to look not great. at what point will we not think about it because you have so much ai? >> yeah, great, let me get that one out of the way. so we have some traditional businesses in enterprise and carrier telco that to your point we were signaling a wei back we were going to go through a cyclical -- >> you were totally up front about that. >> we were. we announced those results. we said q1, which is the quarter we're in, is the bottom, and so we're going to see a recovery off the bottom on those. but just to contextualize it, okay? those two businesses together at their normal run rate were a

couple of billion dollars. you asked me earlier about the ai opportunity. and we had our investor day event today. we outlined a $75 billion total available market for marvell in data center. that opportunity quite frankly dwarfs any other opportunity we have. >> that's meant that you must have more than, say, one or two hyperscaler customers that you work with. >> we do. we work with all of them. >> all hyperscalers? >> all hyperscalers. and it's not just -- on the connectivity as i mentioned we're involved across the board, we're in every deployment. one of our executives said today in his opening line we at marvell, our connectivity chips have helped train every large language model that's ever been trained. >> okay. so today andy jassy was talking about large language models at aws, you're part of that. >> yes. all our connectivity is part of that. and the basis of that, by the

way, came from infi which was a company we acquired as you remember in 2020. and you rightly at the time said this looks like an incredible purchase and it would fit you synergistically. it's been a home run acqu acquisition. >> well, thank you. in fairness i'm tutored by good people. and what i learned was it wasn't necessarily that you thought this would be as big as it was when you bought it. >> well, we didn't know it would be of this magnitude because we didn't -- we knew the ai design wins were there. we donate know how big it would be. but the other part of our business, jim, that's important to talk about when you talk about who we work with and what we do is we also participate in the custom silicon portion of the market. what that means is behind the scenes we work with our customers, large hyperscale customers, to help them develop their own key silicon chips in ai as an example. >> the ones that jassy talked about, the ones google talked about the other day.

>> so when you see those types of announcements marvell's typically involved somewhere in that process. >> we've got to step back for a second. you know that i have been -- and you've helped me, of course, encouraged me to believe how big this could be. now, wall street's very skeptical. and they're just saying like jim, you're like pie in the sky. what is with you and this ai? i look at it talking to someone like you, the orders define me. i'm not making stuff up. and they wouldn't be ordering. these are sophisticated customers. they wouldn't be ordering unless they had customers that wanted their product. >> yeah, we said today in my presentation, actually, that absolutely this capex build that's happening, which was $260 billion of data center capex last year, makes total sense because there's a multitrillion-dollar opportunity to go after in productivity, efficiency, improving businesses, and so forth with the use of ai. so when you put it in that perspective it makes sense. and by the way, for the data center like total market, which

is why you see all these companies doing well and why it's not just a one -- short-term thing. this is projected to be like a $200 billion total opportunity for the semiconductor industry. data center. we're going to address 75 billion of it. but it's enormous. and there's real reasons for it. >> let's go full circle. i think that the reason why the stock was not up as i thought it might be, huge, is because you still cannot say, you know what, the weaker stuff is now turned. and if you had been able to say that, even if it's not that significant, you and i both know that, then i think the stock would have gone up five or six. but people still want to wait for the so-called other shoe, and that's why it's not back to where it was. i don't know what else to say. i thought it was -- look, you're up 78% year over year, so i guess we shouldn't be complaining. >> yeah, it's been doing okay. but i think what i'd say is my experience in doing these, whether it's earnings calls, acquisitions, investor days,

usually quite frankly, the long-only investors, the people who really think about how to play this stock long term, sometimes there's a lag effect. we never look at these types of events. he with give a five-year outlook today. we did not give a short-term update. and i would say resoundingly the feedback today after the event at the lunch from our most strategic long-term investors was home run, opportunity's way bigger than we thought, you guys are executing really well, you're winning new customers, you helped us understand the opportunity in detail. i feel real good about the event. i think the only thing i heard was people were hoping i'd give a bigger number for next year in ai. and that was -- >> no, what you gave was realistic numbers. >> but what we said is we're going to grow another billion dollars incremental next year, and that was a base floor case for where we would be with some upside given the markets. we feel really good. >> let's leave it at that. i think this was a home run. i agree with you. that's matt murphy, president,

chairman and ceo of marvell technology. i think this stock revisits where it was tin the high 80s, low 90s. "mad money's" back after the break. >> announcer: coming up, earnings are in. are they worth toasting? constellation brands joins cramer next.

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this morning we got results from my favorite beverage play, constellation brands, best known for its mexican beer portfolio, think modelo, corona, pacifico, although it's got a wine and spirits business too. i like this one so much that we own it big for my charitable trust and today i'm feeling buzzed because they reported some fantastic numbers. constellation delivered a 15-cent earnings beat on a $2.11 basis. higher than expected sales led by their stellar mexican beer portfolio. it's rallied another three bucks and change today. let's check in with bill newlands, president and ceo of constellation brands. welcome back to "mad money." >> thanks, jim, good to be here. >> i felt especially because of the weather your best quarter ever. and i want people to understand how much of a percentage of the growth of beer you are, the new products that you've introduce and what you're doing with this bountiful free cash flow. >> well, it's a spectacular year for us. as you pointed out a lot of things happened.

modelo became the number one beer by dollar in the u.s. but it was not limited to modelo. we were the number one cpg kroeth company in '23 which made five of the last seven years when that's been the case, we've been number one. 11 consecutive years when we've been in the top ten. it was really a spectacular year for our beer business. >> now i don't want to be too forward but we do have what's known as a spring shelf reset. you have a huge number of new products. i don't know whether you're going to be able to put in some of these fantastic new drinks, which sound frankly -- i don't know. i've got to try the fresca pickn te. i haven't had that. i've had the chile. do you flood the zones with modelo and pacifico and corona? >> it's some of both of those. we were pleased we've gotten more than double-digit increase in our shelf space here in the spring resets and frankly we deserved it because of the velocity of our brands. but in some instances it's

broadening out our core franchises and in some as you point out it's opening up great space for innovation. our innovation agenda has been going equally well. oro this past year was terrific. we're adding to two new skus with that. our aguas frescas which we tested in las vegas is being expanded across the country. we've got a lot of things coming and we'll put that space to good work. >> meanwhile, pacifico 17% growth. i wish people understood how hard it is. can you tell people how hard it is to get 20 million cases in growth? >> well, as you said, it isn't easy. but pacifico's been one of those great brands. it's very developed on the west coast but it's also really starting to express itself around the country. we've got 47 out of the 50 states that are up 50%. excuse me, up 50 -- are up over double digits. so we've had a great run with pacifico and it's really just getting started in many ways because it's very overdeveloped in the state of california.

but the east coast is really coming on. some of the beach markets in florida and new jersey are coming on. we're very excited about the long-term potential for pacifico. >> yeah, probably just seeing it. we've loved it for a long time. there are a lot of companies that people -- in the consumer packaged goods space that don't have your growth. what they get excited about is buying back shares and dividend. i always say if you had anything to grow put the money in that. you guys are still growing brewery because you have too much demand with your current brewery, right? >> we do. but the benefit of a company like ours with great cash flow is we can do all of those things. we put more than 900 million last year into returns to our shareholders and dividends and share buybacks while still putting a billion dollars into our development of our beer business. you know, we're building out veracruz. that will come out a little over a year from now. that will open. and we've added capacity at nava and obragon. we're continuing to invest in the future because we see a long

runway for our business. >> i know the analysts would be disdainful if i don't say it. you've got the wine and spirit portfolio, it was not up to snuff with you the last time i spoke. now you've got someone new, fresh eyes. worth putting a lot of money toward or just kind of let it go as is? >> well, we spent a lot of time looking at it and saying what do we need to do? we're going to put a lot more focus on the critical brands. prands like the prisoner and mayomi and high west and mi campo as examples. we're also going to make sure we focus our attention on execution. i think we spread ourselves a little too them the past year. sam glaser, who we just introduced as the new president of the business, got over 30 years in the business and we're really looking forward to what he can bring and the kind of executional excellence that we think will be important for that business going forward. >> okay. need that. on premise versus store, what do you want to do? what ratios do you want?

>> it's interesting. we still haven't gotten back to the ratio we saw before the pandemic. we used to be in the 5% to 17% range of on premised being of our total. but that number's still around 13. there's still plenty of room to grow. that's an area that i don't think has ever quite returned to where it was beforehand, and it kind of goes in spits and spu spurts. we see a lot of opportunity there. we gained share with modelo-w pacifico and with corona last year in the on premise. we think there's a lot of room to grow there as well. >> what do you think is behind the slowing in corona? i mean, i've got my theory that everyone likes modelo so uch. yet you had to take your tap-out that was corona and put it with modelo because of the demand, and there's not enough new taps. but am i reading that right or is corona a little lull and we've got plenty ahead? >> corona's still solid growth. we grow about 1% last year. and admittedly, there's some interaction between modelo and corona. but we've got a real ace up our

sleeve coming this year. we're going to do a test called corona sun brew in the northeast. you'll get a chance to have some of that. i think it's terrific. and it really opens up a very new and interesting dimension to corona. so corona's going to continue to be a really important part of our growth profile moving forward. >> the last thing i need to know is when you're paying down debt what's the correct amount of debt? the reason i say that is because it's going to inflect and one day you're going to come on and say listen the debt's at the level but it's not going to be zero. i don't want it at zero. what level do we not worry about? what level do we say hey, listen, it's time? >> we think about three times is the right place. >> oh, good. >> we were there about a year plus ago. we had the d class which had us up a little higher than that. but we're very close to that and we expect to get to that ratio before this fiscal year is over. we think that's about right for us. >> that's going to be blastoff, bill, when that happens. well, look, i thought this was the best quarter that i've had

with you working with you, and i think people should understand that. people newlands is the president and ceo of constellation brands. bill, this was a great day to see you. thank you so much for coming on. >> thanks, jim. appreciate it. >> "mad money's" back after the break. >> announcer: coming up, they're about more than signing on the dotted line. can this company reinvent itself with the power of ai? find out, next.

what's the path forward for independent docusign? the e-signature company that revolutionized the process of closing business deals during the pandemic saw its stock get clobbered as the world went back to normal. it's still down over 80% from its 2021 highs.

but docusign shares managed to stabilize last year thanks in part to reports last december that said the company was working with advisers to put itself up for sale. since then, though, we've heard those talks are stalled, meaning a sale is likely off the table. something as easier to swallow given the company reported a pretty good quarter a month ago. now we've got to figure out what's next and today we got a glimpse of thats adocusign unveiled its new intelligent agreement management platform. what could it mean for the future of their business? let's take a closer look with the ceo of docusign. welcome back to "mad money." >> thank you, jim. great to be here. >> do we have a new docusign? a lot of people want to say that this is the way to be able to make the company go beyond a signature company. >> yes. i think it's really a reinvention moment for us. as you said, we're launching this new category, intelligent management to help companies of all sizes manage their agreements from creating to committing and managing them. >> now, what's different from the way i would do it now?

i like docusign. it seems very simple to me. i've never sent anything -- i've never sent any of my renters or anything anything that was not personal enough. what do i need to make it better? >> well, so nothing's changing about the signing moment. i think that was a very high value point in time and we did a good job solving that. but if you think of every step of the agreement journey, from creating the agreements, negotiating and drafting, editing them, getting them routed for signature, signing them and then managing them once they're executed, today's agreements, they go into a deep dark place. most companies could barely tell you where they are let alone what's in them. so we are bringing a suite out to help along every step of that journey and bring intelligence -- >> so this is that trapped agreement. and it's a very costly thing, right? that we have trapped agreements. >> yes. so the agreement trap refers to the value loss the companies experience from mismanaged agreements and processes.

whet g whether you're in sales and your sales reps are wasting valuable time getting an agreement that's already been agreed to in principle. maybe your vendors aren't delivering on promised agreements or you're missing out on a key hire. those are all symptoms of mismanaged agreements. and we worked with deloitte to quantify this. they prereleased some work earlier this week quantifying the loss at $2 trillion annually for companies of all sizes. >> i'm sure you have beta testers. what are they saying? >> yeah, so we have hundreds of companies that are beta testing our new products. the response is fantastic. we built this solution based on customer input. we heard from them what their pain was and we tried to stailo a solution to that. great experience entering into business for consumers or business to business agreements and extracting the value out of these agreements that today are dumb flat files. >> more than a billion dollars in cash. no debt. you've had to slim down. we know that.

>> yeah. >> off the table now these -- where you say listen, maybe we're for sale and someone comes but just forget about that? >> well, i'm not do egoing to comment on rumors, but what i will say is we are excited about our journey as an independent public company. i think today's announcements show the potential of what docusign can be. and that's what we're pursuing. >> if i'm listening and i'm marc benioff, ceo of salesforce, i would say they're encroaching on our territory because they're doing the kind of intellectual -- let's say artificial intelligence that we owe to ourselves. are you going to be in against them? >> no. we have a fantastic partnership with salesforce. one of our longest standing partnerships. we have tens of thousands of customers that have deployed salesforce and docusign together. i think salesforce is very excited about what we're doing because agreement management's not really their business and companies want solutions that span not just sales but purchasing, hr and other functions. and so that's less well suited for them.

>> when i saw this i said to myself they have a billion in cash, why don't they go buy somebody really great? you think it's better than anybody that's out there or this is the direction you wanted to go and you had the people internally to do it? >> yes, we had the people internally to do it, we had all the customer feedback. we had a lot of the pieces. we hadn't put it together in a suite, which is what we announced today. also we are in a unique position to do this. no one has done this before. and if not docusign than who? we are the largest player focused on agreements. we have this special trust position because of our signature product. and we have a million and a half customers that have already bought from docusign. >> now, i would say i would have thought that you'd be adding more customers of late. >> i think we're doing okay. we added 40,000 customers last quarter. >> i was looking more in 300,000. >> we are adding. we've been adding the last couple quarters. we're working on it. i think we're doing okay. we're holding our own. >> not set back by that

interlude with the bain and all that stuff? >> no. i don't think customers cared about rumors. >> and i've got to use it. how's business? we talk about the new product. how's business? >> we had a very strong q4. >> you did. >> really solid quarter. top and bottom line. record cash production. doubled our operating cash. and i think we're poised for growth. so this is really about our long-term -- >> transaction growth is good. mortgage is good. all the different kinds of -- >> so i think -- i'm optimistic. we're not changing our guidance but we think this is a very positive sign for the company. and i'm really excited about rolling it out to customers. >> i was home when you reported and i said that looks like a great number. and i was confused the market didn't see it that way. but maybe they needed to see some more new product and that's what you're giving them. >> i think the market is in wait and see mode. i think we've held up pretty well over the last six months. >> i agree. i was taken aback but now i feel much better because i see that

i'm going to be right. >> i think you will be. >> allan thygesen, ceo of docusign. they did something that was breakthrough, you just heard about it. "mad money's" back after the break. >> announcer: coming up, hit us with your best shot. an electrifying fast-fire "lightning round" is next.

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[ applause ] hello to my friends from the high school of economics and finance here in lower manhattan. tonight is the night.

10:00 p.m. eastern here on cnbc. you must be tuned in to my great friend carl quintanilla for his program "cities of success." tune in. it's going to be fantastic. and now it is time, it's time for the "lightning round" on cramer's "mad money"! say the name of the stock, buy, buy, buy, play until this sound. and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round" on cramer's "mad money." walter in virginia. walter. >> caller: hey, jimmy. talk to me about the last three years, new fortress energy has gone 30 to 60, 30 to 60, and now it's back to 40. >> the government changed the rules. they said 2028 we've got to put a pause on lng. i thought that was outrageous. i think the government some relent. it's great for energy security, great four our allies. i like new fortress. but right now just hurt by the

president. let's go to mike in illinois. mike. >> caller: good evening, sir. how are you doing? >> real good. how about you? what's happening? >> caller: it's a bodacious day in paradise. calling about cummins. i bought them as an infrastructure play. buy, sell, hold? >> buy, sell, hold cummins? i like cummins very much. i think it's terrific. let me throw in two. i'll give you paccar. i'll give you a two-fer. phil in michigan. >> caller: ba-ba-ba-boo-yah, jim. >> what's up? >> caller: i'm a member of the cnbc investing club and i really appreciate all you do for us. >> thank you, buddy. >> caller: in my 12-stock portfolio i have two health care related stocks, eli lilly and ge health care. should i also buy abbott labs? >> yes. i want you in abbott labs. quality diagnostic and medical device company. if the ded does overreach as some people think i think it's going to be the right call. great growth. four growers that are the

fastest growing i've seen the company in a very long time. let's go to tony in florida, please. tony. >> caller: hey, jim, i want to thank you and your wife because i met you up in palm gardens there. >> oh, yeah, lisa's the best, huh? she's much nicer than i am. there's 330 million of those people. no, she's terrific. >> caller: you both are. >> thank you. >> caller: i bought it and i have it neat but i found out if i have it with a little bit of cheese. it brings out more of the flavor. >> this is the best advertisement my wife has ever had for plusfora. she's going to figure out i have a show with & where i've been all these times. what's up? >> caller: not much. i have a stock, i have a small position but i can make it bigger. it seems like it's supposed to be a regional bank but to me it's a bigger bank and has a lot of i think going for it. i have my house with them. and it's pnc. do you -- >> you got horse sense.

i don't understand why pnc is down here. it's got a 4% yield. you buy half here and if the company doesn't report the number they want next week then i think you can buy more. that's how good i think about that stock. let's go to anthony in rhode island. anthony. >> caller: boo-yah, jim. big fan here. >> thank you. >> caller: question for neo. would you buy, sell or hold out? >> answer, i would sell. and i would buy ford if you can get it $12.75 do it now. let's go to neil in louisiana. neil. >> caller: hey, jim. thank you for taking the call. appreciate your insights. >> thank you. >> caller: and my question is on palantir technologies. >> i think they work closely with the government. as far as i'm concerned $22 goes to 28. make a move and buy some. and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> announcer: the "lightning round" is sponsored by charles

schwab. coming up, housing and cars tell the story of a fed stuck in second gear. can jay powell shift the economy in a direction to delight investors? stick with cramer.

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as much as i think he's the greatest, i don't envy jay powell right now. the fed's stuck between a rock and a hard place but wall street seems unwilling to admit it. we know the fed wants prices down that's a bedrock reason it

tightened so aggressively from 2022 through late last year. historically rate hikes have a way to push prices lower but this time it's been a lot less impactful. let's take two markets that are very important to consumer prices, shelter and cars. in the report we got the other day they only measure -- housing represents 1/3 of the cpi. autos were also a major component and those price increases were relentless especially in used cars thanks to pandemic era supply chain disruptions the automakers took forever to ramp up production which kept pricing xeesively strong. the biggest problem with housing and auto inflation, though, it's the fed itself. this morning car max the big used car dealer report aid dismal quarter and told us used cars are finally getting chaemer but there's still major sticker shock because of financing costs which are controlled by the fed. if the fed were to cut rates not

raise them but cut them automobile inflation would actually go down. same story with housing. we've got persistent housing shortage pushing prices up and the high cost of mortgages makes it worse, worse than years. many people who'd normally be eager to sell their home won't do it because they don't want to give up their ultra low mortgage rates from the many years when rates were much lower because we had to combat covid. who wants to swap a 3% mortgage for a 7% mortgage? i don't. it's no wonder the housing affordability is the worst since the 'airkts at least according to the journal. if you're on the fed and you saw the cpi remaining high you have one tool, you can raise rates to try to get prices lower. but right now raising rates will make housing and autos more expensive, which means the fed's one tool doesn't work. in fact if we want more cars and houses which would solve the problem then i'd argue the fed actually does need to cut rates. when you look at the other big contributors to that overheated cpi number a big part of it was food which comes down -- what is it, what's happening? because of the bird flu epidemic jacking up the price of eggs and

poultry. that epidemic has now spread to ca cattle. there's nothing they can do about that kind of food inflation. same goes for the increase in the cost of insurance and sales tax. no influence there. rate cuts won't make a difference for either of those. but the fed can't cut interest rates when unemployment's at 3.3% and inflation's still a good two points away from the target. in other words the fed really is in a box. it raises rates the homeled abouters would put eneven fewer houses. rate hikes would lead to fewer homes being built. that's why i think the fed has to play a waiting game. it needs to wait until the car lots finally fill up allowing prices to come down. it has to hope the home builders don't make a mistake and put up too many houses. in a normal business cycle there would be overbuilding of housing including apartments and cars on the way up. we should have had a lottar month units for sale. it didn't happen this time. in part because of the pandemic supply disruptions and in part because there's a significant uptick in immigration creating

potentially more customers. we sit here and debate what the fed can or can't do but i think the fed's trapped for now tlr there's nothing they can do, they can only wait. in time this too shall pass but nothing else can really help at least for now. i like to say there's always a bull market somewhere and i promise to try to find it just for you right here on "mad money." i'm jim cramer. see you next time. "last call" starts now. right now on last call , energy stocks on fire but there is something about the rally that could mean trouble. speaking of energy, moments ago, one big area for u.s. reduction maybe getting the capped by the white house. adam newman on the record. the founder setting the investment world above. the juice is gone but the complicated legacy of oj simpson and his blockbuster trial still reverberating today. jane wells covered live and is here. the