Jim Cramer: This partnership could be a 'seismic shift' in AI and 2 of our stocks

Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. 1. Stocks were mixed Thursday as investors tried to handicap whether the U.S. and Iran were moving closer to an agreement to end the war , alongside a sharp rotation underneath the surface "It's been hardware, hardware, hardware," Jim Cramer said. "Suddenly today, it's reversing." Software stocks gained following a strong batch of earnings. Red-hot chip designer Arm Holdings was part of the hardware contingent under pressure. The Club stock saw a post-earnings drop of more than 8% as investors focused on the company's challenges to secure enough supply for its new in-house CPUs to raise its official revenue forecast. 2. Software stocks popped , with cybersecurity names among the biggest winners. Strong results from firewall powerhouse Fortinet lifted the broader group, including Club names CrowdStrike and Palo Alto Networks . Jim acknowledged lingering concerns that AI could eventually disrupt cyber vendors, but said the rebound shows investors are regaining confidence. We have favored CrowdStrike over Palo Alto, though we own both. Jim and Jeff Marks, director of portfolio analysis for the Club, admitted it's "tempting" to take profits in Palo Alto after the stock went back into the green for the year. …