Shares of Advanced Micro Devices (AMD) are surging by more than 11% Monday after the company held its virtual Accelerated Data Center Premiere. At the event, CEO Dr. Lisa Su and her team made several market-moving announcements.

Shares jumped on the news that Meta has become the latest major hyperscale cloud company to adopt AMD’s EPYC CPUs to power its data centers. Meta represents the 10th major hyperscale company to adopt AMD EPYC processors.

We also saw the stock push higher after the company unveiled the AMD Instinct MI200 series accelerators, which they called the world’s fastest accelerator for high performance computing and artificial intelligence workloads.

Lastly, AMD provided new details on the expanded next generation AMD EPYC processors codenamed “Genoa” and “Bergamo”

AMD sometimes gets viewed as a play on the PC market, but this labeling is far from accurate. Today’s announcements once again proves this is one of the premier high-performance computing semiconductor companies to be invested in over the long haul. Their data center business is on fire right now, with revenues more than doubling year over year in the latest quarter. Don't look now, but AMD is quickly closing in on Intel's market capitalization.

However, we can’t help but view this 10% jump — which extends the gains since the beginning of October to around 45% — as an opportunity to trim our position. AMD just went on a massive run, and it would be greedy if we never let some stock go. This is simply out of our discipline that bulls make money, bears make money, and hogs get slaughtered.

Bottom line:

We can’t make the sale today because we are restricted from trading the stock, but we want Investing Club members to know that we would sell a little into this strength.

The Charitable Trust currently owns 850 shares of AMD, making its weighting in the portfolio roughly 3.05% at a very low average cost basis of $83.77. We would trim about 100 shares this afternoon if we were not restricted.

As a reminder, we are restricted from trading any stock that Jim mentions on TV for three full days following the mention. Although we cannot make the trade for the Charitable Trust, our restrictions will never prevent us from telling the Investing Club what we would buy or sell and when we would do it.

The CNBC Investing Club is now the official home to my Charitable Trust. It’s the place where you can see every move we make for the portfolio and get my market insight before anyone else. The Charitable Trust and my writings are no longer affiliated with Action Alerts Plus in any way.

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Typically, Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If the trade alert is sent pre-market, Jim waits 5 minutes after the market opens before executing the trade. If the trade alert is issued with less than 45 minutes in the trading day, Jim executes the trade 5 minutes before the market closes. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. See here for the Investing Club's terms of use.

(Jim Cramer's Charitable Trust is long AMD.)