Jim Cramer stated on Wednesday that rising borrowing costs are dividing the stock market into two groups: credit-sensitive companies under pressure and artificial intelligence businesses that remain largely insulated. He noted that AI-related companies, such as data center builders, semiconductor firms, and power providers, face fewer constraints as lenders are eager to finance their growth, allowing them to borrow at their leisure and crowding out other borrowers. This explains the market's narrowness, with AI stocks leading the S&P 500 to record highs. Cramer cited SpaceX's plan to borrow $40 billion for Nvidia chips as an example of AI's borrowing power, contrasting it with traditional sectors like finance, housing, and entertainment that are heavily reliant on credit and vulnerable to higher rates.