Jim Cramer shared his thoughts on Intel Corporation during a recent episode. He highlighted the company's comeback story.
"Finally, let's talk Intel, which has been way too hot... last year's most surprising comeback story," Cramer said. "The chipmaker seemed like it was being eaten alive by NVIDIA and AMD. The former CEO Pat Gelsinger practically ran it into the ground with his ambitious plans to build semiconductor manufacturing facilities."
Cramer noted that many people were worried about Intel. He mentioned that the company brought in Lip-Bu Tan as CEO. Tan secured a bailout from the federal government, which took a nearly $9 billion stake.
After the federal involvement, NVIDIA made a $5 billion investment in Intel. The stock has been on fire since then, Cramer observed. He attributed this to a cleaned-up balance sheet, which made Intel a better story for investors.
Intel Corporation designs and manufactures processors, chips, memory, and related hardware. It also provides software, optimization solutions, and AI-enabled platforms.