CNBC's Jim Cramer says Wall Street is 'fleeing' AI stocks after a 7% drop in AI infrastructure shares over the past month, as investors rotate into software and retail names. Morgan Stanley reported that companies involved in AI infrastructure experienced an average 7% decline in share prices through July 24. High-profile AI hedge fund Situational Awareness, led by 25-year-old former OpenAI researcher Leopold Aschenbrenner, was forced to sell its entire public investment book to Citadel for $10 billion after leveraged bets on companies like SK Hynix failed. Cramer noted that software stocks such as ServiceNow and Salesforce have jumped 10.87% and 15.35% respectively over the past month, while Walmart and Costco shares also rose sharply. Despite the pullback, Cramer remains bullish on Nvidia and Intel, and Morgan Stanley's Stephen Byrd called the recent decline an unusually attractive buying opportunity.
Costco Wholesale Corp
Walmart Inc.
Seagate Technology PLC
Western Digital Corporation
Morgan Stanley
