Chip stocks slump on Anthropic-Samsung rumor; Cramer picks Intel
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- Anthropic was reported by The Information on Thursday to be in talks with Samsung to manufacture a custom AI chip, though the report did not specify whether it would be a GPU or CPU
- Chip stocks including Micron, Seagate, Western Digital, Sandisk, AMD, Nvidia, and Intel sold off Thursday on the news, with thin trading volume ahead of Friday's July 4th market closure amplifying the swings
- Anthropic told TechCrunch it currently uses chips from Alphabet's Google, Amazon, and Nvidia, and declined to add anything about custom chip aspirations
- CrowdStrike fell from the high $110s (down from a $138 peak, adjusted for a 4-for-1 split that happened the same Thursday) to the $90s during a similar January selloff fueled by Anthropic-cybersecurity rumors, then rallied to the $190s after Anthropic launched Project Glasswing
- Cramer is recommending Intel, citing its CPU lineup, foundry build-out, and a packaging business he says will challenge Cadence
Why it matters: Cramer is betting Thursday's chip rout mirrors the January CrowdStrike panic—where forced selling by weak-handed holders created a buying opportunity once the market saw through the fear. His Intel pick rests on the company's own CPU line, foundry expansion, and packaging business insulating it from any Anthropic chip that actually materializes.
