CNBC's Jim Cramer on Monday rejected concerns of market cap concentration in the Magnificent Seven, saying they are tied together because of their high growth rates rather than their products.

"It's growth that matters to stock investors, not the data center, not accelerated computing, not even artificial intelligence," he said. "Growth is what the Magnificent Seven have in common and growth is what the market always loves."

The Magnificent Seven — Amazon , Alphabet , Meta , Apple , Microsoft , Nvidia and Tesla — are some of the biggest names on the market, with artificial intelligence chip giant Nvidia recently becoming the first company to hit a valuation of $5 trillion.

Cramer said he understands that some may be

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