Jim Cramer notes that the recent plunge in tech stocks could be the most significant tech selloff in over a year. He is concerned whether the trillion-dollar spending is drying up or if it is just a temporary pause.
For his Charitable Trust, he is trying to shrink traditional tech and move into other kinds of tech, namely tech-infused pharma and aerospace.
Cramer has made Intel, not Nvidia, the focal point of the portfolio, concerned that there aren't enough new move-the-needle customers for Nvidia.
Apple's decisions not to spend hundreds of billions on AI seem to be paying off, while Intel may have upside surprises according to Cramer.
He emphasizes that Intel's CEO knows how to wisely spend money to build foundries that are in short supply.
As Cramer states, "Intel could be a successful tech stock because only AI agents can amortize all the spending now."
