CNBC host Jim Cramer said on Wednesday that the market’s momentum is concentrated in five areas—cybersecurity, cryptocurrency–linked equities, data-center infrastructure, semiconductors and banks—arguing that each is benefiting from strong structural demand and, in some cases, tailwinds from artificial-intelligence spending. He pointed to CrowdStrike and Palo Alto Networks in cybersecurity, Coinbase in the crypto space, and Nvidia and Advanced Micro Devices in chips. In banking, he singled out Capital One ahead of the Federal Reserve’s annual stress-test results. By contrast, Cramer warned that housing, automobiles, freight transportation and retail are underperforming as higher financing costs and softer consumer demand squeeze margins. In a separate rapid-fire “lightning round” segment, he told callers to steer clear of enterprise-software provider Workday, citing intensifying competition.