Squawk on the Street Nvidia's Q2 Beat and the AI Trade, Fed's Cook Sues Trump Administration 8/28/25
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Aug 28, 2025 The conversation kicks off with Nvidia's impressive Q2 earnings, despite concerns over future chip shipments and data center growth. Tensions in the AI trade are also explored, highlighting geopolitical challenges, especially in China. The hosts dive into Fed governor Lisa Cook's lawsuit against the Trump Administration, raising questions about presidential powers. Retail earnings from Dollar General and Best Buy reveal shifting consumer habits, while Snowflake's surge signals a bright future in AI solutions. Personal anecdotes add a light-hearted touch amidst the market chatter.
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NVIDIA Beat But China Uncertainty Looms
- NVIDIA reported record sales and a $60B buyback but data-center growth slightly missed some estimates.
- Management warned Q3 guide excludes H20 shipments to China, creating uncertainty about China demand.
NVIDIA Is A Hardware Growth Story
- Jim Cramer framed NVIDIA as hardware-plus-software with a massive TAM that could triple revenues.
- He argued supply, margins, and sold-out demand make this a dominant long-term growth story.
Don't Panic Over Inventory Buildup
- Treat inventory rises at NVIDIA as buildup for complex system assembly, not soft demand.
- Avoid selling into knee-jerk concerns; consider the manufacturing lead times Jim describes.