Here's a rapid-fire update on our 32-stock portfolio, including Cramer's 5 favorites to buy

On Thursday, Jim Cramer and portfolio director Jeff Marks held the CNBC Investing Club's August Monthly Meeting. They ran through each stock in the portfolio, with Jim putting special emphasis on his five favorite names to buy in this moment, as the artificial intelligence trade springs back to life. Jim also dedicated the start of the meeting to lessons learned from our recent exits of Nike and Honeywell Aerospace . Top 5 names to buy Jim started his portfolio rundown by calling out his five favorite stocks to buy right now. Nvidia : The chipmaker is at the center of this new AI world, and the stock is one to own as this revolution goes on, which it might for many years. It reports earnings on Aug. 26. We're expecting both profits — and the multiple that the market pays for those profits — to move higher. Nvidia is up there with Micron and Intel as Jim's current favorites in the portfolio. Micron : This is our newest name, having entered the portfolio Tuesday morning. It's had a good couple of days but is still well off its highs. We're not done buying Micron. While the memory industry is historically boom-and-bust, newly minted long-term supply agreements offer some protection. Memory supply is still well short of memory demand thanks to AI. Intel : We're confident that CEO Lip-Bu Tan will get Intel's third-party foundry business up and running, with big-name customers. This week's $20 billion secondary stock offering is a necessary evil to help fund those efforts while…