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LivestreamMenuShortly after the opening bell, we will buy 100 more shares of Intel at roughly $106 each. Following Monday’s trade, Jim Cramer’s Charitable Trust will own 1,000 shares of INTC, increasing its weighting in the portfolio to about 2.75% from about 2.5%. We’re picking up more shares of Intel, consistent with the game plan we laid out in Friday’s Morning Meeting. Shares were indicated a few dollars lower in premarket trading, extending its recent drop despite continued signs that demand for artificial intelligence chips exceeds supply. Earlier Monday morning, Taiwan Semiconductor Manufacturing Company (TSMC) reported a strong June, with sales increasing about 68% year over year. The company will report its full second-quarter results later this week, but the company’s figures suggest that demand for AI chips continues to exceed supply. INTC YTD mountain Intel YTD In another sign of this demand and supply mismatch, Intel announced Monday it will invest about $5.7 billion in its Ireland plant to expand production of its Xeon server processors and other products. One of Intel’s flagship customers of its Xeon processors is Alphabet . Back in April, the two companies announced a multiyear collaboration that includes the deployment of Intel Xeon processors across the Google Cloud and the co-development of custom ASIC-based infrastructure processing units (IPUs) in scaling AI systems. ASIC stands for application-specific integrated circuit. (Jim Cramer’s Charitable Trust is long INTC, GOOGL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.Read More
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