Shares of Nvidia (NVDA) were lower in mid-morning trading on Friday, despite the chipmaker reporting a top and bottom line beat for the quarter after Thursday's market close. 

"It is a frighteningly positive story," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" on Friday morning. 

It's a scary story because Nvidia's chips are behind the artificial intelligence (AI) technology that will start to replace humans, he explained. "We don't need us with Nvidia," Cramer said. 

Companies like Tesla (TSLA) , Facebook (FB) , Amazon.com (AMZN) and Alphabet's (GOOGL) Google are all relying on Nvidia's chips in their AI and virtual reality (VR) projects. "Everything runs on this thing," Cramer exclaimed. 

When he saw the quarterly results from Nvidia, Cramer called in his staff at CNBC's "Mad Money" and told them to "drop everything" and work to "understand Nvidia." "I don't know people at Nvidia, but Nvidia is the answer," Cramer said. The company even had a section in its release about potential cancer treatment applications. 

Nvidia should be worth $100 billion based on market cap, Cramer claimed. "There was a movie about this. It's called "Terminator." I'll be back -- and it came back as Nvidia," he said. 

(Facebook and Alphabet are held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial here.)

(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial.)

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