Jim Cramer stated on CNBC's Squawk on the Street that the market is shifting away from technology, particularly data center-related plays, towards enterprise software and pharmaceutical companies. He attributed this rotation to constrained AI infrastructure and spreading political opposition to data center construction. Cramer also noted that stock performance is increasingly driven by share buybacks rather than revenue growth, citing Salesforce's debt-funded repurchase of 11% of its outstanding shares. Companies like ServiceNow (NOW) and Salesforce (CRM) have seen surges of approximately 30% in the past month, while Moderna (MRNA) exploded 115% in one week on positive melanoma vaccine data.