NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report and Mobileye (MBLY) are gaining 2.24% and 10.87%, respectively, in afternoon trading on Thursday as the companies work to develop self-driving car technology with BMW, according to Bloomberg.

"You are going to see Intel be the key to this market," TheStreet's Jim Cramer said in CNBC's "Squawk on the Street" this morning, adding that Mobileye's stock "is going to be up substantially on that too."

"Driverless cars is really an algorithm of whether you should be hurt versus a pedestrian," Cramer explained, adding that the technology will be improved because "in the end a drunk driver is not as good as a driverless car."

Intel CEO "Brian Krzanich [is] making his move out of the PCs to the car," Cramer observed.

"Intel is becoming less and less like a PC company," Cramer added in the video, above. "To be levered just to the PC industry is terrible."

Cramer also expects Intel to perform well today in the market because of a bullish note from Citi that said Intel will be taking a market share from Qualcomm (QCOM).

Apple (AAPL) has reportedly ordered modem chips from Intel instead of Qualcomm for certain models of the iPhone 7, which is expected to be launched later this year.

"Intel may be a little more attractive than people realize," Cramer commented in the above video.

Separately, Intel has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in net income and growth in earnings per share.

You can view the full analysis from the report here: INTC

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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