Intel shares jumped sharply on June 11, 2026, after the chipmaker received what analysts described as a rare "double upgrade" — a two-notch ratings boost that immediately drew Wall Street's attention.
CNBC's Jim Cramer amplified the move on his "Mad Dash" segment during Squawk on the Street, delivering what 24/7 Wall St. called one of his most aggressive calls of the year. Cramer named Intel (NASDAQ: INTC) the "Number One Name" in chips and declared it "more important than NVIDIA" — a striking claim given Nvidia's dominance of the AI chip narrative in recent years.
The combination of the institutional upgrade and Cramer's high-profile endorsement sent Intel's stock soaring, according to both 24/7 Wall St. and Yahoo Finance reports on the session.
The call marks a notable shift in sentiment. Intel has spent years struggling to reclaim manufacturing leadership and relevance in the AI era while rivals like Nvidia rode surging demand for graphics and data-center chips. A double upgrade signals that at least some on Wall Street now believe Intel's turnaround story deserves a serious second look.
For everyday investors, the moment matters because it suggests the chip landscape — long dominated by Nvidia's AI tailwind — may be broadening, with Intel re-entering the conversation as a credible contender.