CNBC’s Jim Cramer has expressed major doubts about Intel Corp.'s (NASDAQ:INTC) newly reported 2028 manufacturing partnerships with tech giants Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) and Nvidia Corp. (NASDAQ:NVDA).
Market Surge Meets Skepticism
Despite a massive single-day stock surge of over 11% on Monday, fueled by reports that Google and Nvidia view Intel as a backup chipmaker, Cramer stated he remains "VERY skeptical" about the distant timeline.
Alphabet's Google has reportedly ordered over three million AI chips from Intel for 2028, while Nvidia is evaluating Intel's advanced packaging and 18A process node.
The news triggered an immediate rebound for Intel, which has surged by over 449.70% in the last 12 months. However, Cramer quickly tempered the market’s enthusiasm on social media, emphasizing that the actual execution is years away. “It is a 2028 deal,” Cramer posted on X. “I am VERY skeptical about this…”
A Play For Trust, Not Broadcom
Cramer clarified Intel’s actual positioning in the semiconductor landscape, tracking it as a domestic manufacturing alternative to Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), rather than a direct competitor to designers like Broadcom Inc. (NASDAQ:AVGO).
Despite his doubts about the immediate payoff, Cramer revealed that his charitable trust maintains a position in the chipmaker. “Intel Foundry? ready in 2028? let’s hope so and we own Intel for trust,” he added.
Proving The Strategy
The report comes at a critical juncture as Nvidia expands its presence into AI PCs with its RTX Spark, directly threatening Intel’s long-dominant PC processor market.
Investors are now looking closely toward Intel's upcoming July earnings report, where consensus revenue is estimated to hit $14.40 billion, up from $12.86 billion year-over-year.
How Has INTC Performed In 2026?
Shares of INTC have advanced by 198.83% year-to-date. It closed 11.19% higher at $110.27 apiece on Monday, and it was 1.47% higher in premarket on Tuesday.
Over the last month, INTC stock was down 11.73%, and it rose 173.62% over the last six months. Benzinga’s Edge Stock Rankings indicate that INTC maintains a strong price trend in the short, long, and medium terms.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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