Jim Cramer compares the recent AI stock sell-off to the 1987 Black Monday crash

CNBC's Jim Cramer says the recent AI stock sell-off echoes 1987's Black Monday, when stocks fell despite strong underlying companies.

He says semiconductor and data center stocks fell together last week without apparent deterioration in company fundamentals, and he suspects a hedge fund liquidation intensified Friday's drop, though Cramer notes that liquidation has not been confirmed.

He advises investors to distinguish stocks falling because their businesses are weakening from those falling due to forces beyond company control.