Why this unheralded AI stock can go higher despite its recent massive rally

Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. Stocks pulled back Wednesday after a hotter-than-expected inflation report raised concerns that the Federal Reserve may have less room to cut interest rates later this year. The producer price index rose 1.4% in April, seasonally adjusted, well above the consensus estimate of a 0.5% increase. On an annual basis, the index climbed 6%, marking its biggest increase since 2022. The report comes one day after the Bureau of Labor Statistics reported that the consumer price index rose 3.8% from a year ago. The PPI reading pushed Treasury yields higher, with the 10-year yield hovering around 4.45%. Still, the Nasdaq Composite was up, powered by a rebound in tech stocks. Many semiconductor and AI names bounced back after Tuesday's sharp sell-off, though Jeff Marks, director of portfolio analysis for the Club, cautioned against chasing names that made parabolic moves. 2. Shares of Club holding Nvidia jumped 2%, fueled by optimism surrounding CEO Jensen Huang's trip to China alongside President Donald Trump . Investors are hopeful the visit could eventually lead to a reopening of chip sales in the region, though Jeff said that is not the Club's main focus. "It would be great if it happened for Nvidia, but not something we're banking on," he said. …