Most people think hyperscalers spent too much on data centers, says Jim Cramer

AI Data Center Investment & Market Sentiment - The market expresses concern that hyperscalers are overspending on data centers, reminiscent of the dot-com era's "if you build it, they will come" mentality [1][3][4] - There's a perception that investments in AI data centers are akin to "lighting money on fire," drawing parallels to the market crash of 2000 [1][2][3][4] - The market questions the financial sustainability of companies like Open AI, particularly regarding its $30 billion annual commitment to Oracle [3] - Despite skepticism, the companies leading the AI data center build-out possess significant expertise and resources [4][5] Hyperscaler Strategies & Competitive Positioning - Each hyperscaler is developing a distinct reputation; Microsoft is focusing on enterprise AI solutions and integrating AI into corporate PCs [6] - Google is successfully integrating AI search results into its existing search platform with Gemini, avoiding cannibalization [7]