Jim Cramer has recommended Advanced Micro Devices Inc. (AMD) as a strong buy following the unexpected retirement of Intel CEO Pat Gelsinger.

AMD is seen as a major beneficiary of this leadership change within its rival company.

At the AMD Advancing AI event in San Jose, California, CEO Lisa Su unveiled new accelerator chips that aim to improve the performance of artificial intelligence software, positioning AMD ahead of its competitors in the rapidly evolving tech landscape.

While Intel's shares rose after the announcement of Gelsinger's departure, analysts believe that AMD will benefit greatly from this shakeup, strengthening its competitive position in the semiconductor market.