Cramer urges investors to be more selective in the AI frenzy

CNBC's Jim Cramer said that investors need to become far more selective in the semiconductor rally. Cerebras , a chipmaker focused on artificial intelligence workloads, completed the largest IPO of the year Thursday. The stock priced at $185 Wednesday night but opened around $350, briefly valuing the company at roughly $107 billion. It ended the day at $311 a share, good for a roughly $95 billion market cap. …