Cramer's Charitable Trust Buys 100 Intel Shares at $97.97 as AI Trade Rebounds
Updated
Updated · CNBC · Aug 5
Cramer's Charitable Trust Buys 100 Intel Shares at $97.97 as AI Trade Rebounds
2 articles · Updated · CNBC · Aug 5
Summary
100 Intel shares will be added shortly after the open at about $97.97, lifting Jim Cramer's Charitable Trust stake to 1,300 shares and roughly 3.2% of the portfolio.
Intel's 10% jump Tuesday and AMD's strong quarter reinforced the trust's view that the AI trade has regained footing, with CPU demand running above expectations and supporting another buy.
The purchase also aims to lower the trust's average cost basis after Intel recovered from a recent dip but still trades below the roughly $113 after-hours level reached after its July 23 earnings report.
That post-earnings reversal is now seen as driven more by forced selling from a leveraged AI-focused hedge fund than by concerns over Intel's capital spending or foundry customer traction.