Squawk on the Street

Markets are bouncing back after a recent sell-off, with discussions on how trade tensions with China are impacting investor sentiment. In breaking news, OpenAI and Broadcom have announced a groundbreaking partnership to develop 10 gigawatts of custom AI accelerators starting in 2026. The presidents of both companies shared insights on the multibillion-dollar deal and the critical need for diverse hardware partnerships in AI. The market is reacting positively, with tech stocks gaining momentum following the announcement.

Jim Cramer reveals his enthusiasm for buying Starbucks stock despite current consumer challenges. He highlights the company's innovative product strategy and praises its leadership, comparing the CEO to successful turnaround figures like Pepsi's Ramon Laguarta. Cramer discusses the potential for Starbucks to exit its China operations as a strategic move. He also shares insights from a positive survey on Starbucks, drawing intriguing comparisons with Nike's brand performance.

Chip Wilson, the founder of Lululemon, passionately criticizes the company's board and governance, suggesting a drastic overhaul to revive the brand's spirit. Mark Mahaney provides insights into Amazon’s Prime Day performance and emphasizes the crucial role of AWS in driving stock value. Gabriella Santos discusses the macroeconomic landscape, weighing Fed policy against consumer trends and labor market dynamics. The convergence of these topics paints a complex picture of today's market, highlighting innovation, governance, and the challenges facing major companies.

Three years into a bull market, the hosts explore the top-performing stocks while noting the economy's laggards. They highlight a record high for the Nasdaq, driven by NVIDIA's rise towards a $5 trillion cap. The group discusses the Federal Reserve's shortlist for the new chair and debates the profitability of quantum technology. Concerns arise over AI's impact on security and truth, while ongoing merger talks between Paramount and Warner Bros. Discovery create buzz. The status of the CoreWeave deal and Intel's surprising rise complete the insights.

Ramon LaGuarta, CEO of PepsiCo, dives into the company’s quarterly results, highlighting a resilience in global consumer demand and strategic innovations for snacks and beverages. He discusses the challenges of middle-income consumers and shares his vision for growth through M&A and innovation. Jim O'Neill, former U.K. Treasury minister, analyzes the recent rally in gold prices and AI's potential productivity benefits, as well as its complex impact on labor markets amid Fed policy uncertainties.

JPMorgan CEO Jamie Dimon raises eyebrows with his market correction warning, sparking debates on AI valuations. Delta Airlines soars after a strong quarterly report, signaling a corporate travel rebound. The podcast dives into the surging prices of gold and silver, while Treasury Secretary Bessent criticizes Dodd-Frank rules affecting community banks. Meanwhile, discussions on Nvidia’s bullish outlook and a probe into Tesla add to the market's dynamic landscape.

Jim Cramer discusses the Club's strategic investment in GE Vernova, highlighting its potential as the 'right' AI energy stock. He connects rising power demands to major deals from tech giants like NVIDIA and AMD. Cramer underscores GE Vernova's significant role as a turbine leader and hints at the need for political support to boost production. Tune in for insights on the intersection of energy and technology!

Scott Kroner, U.S. equity strategist at Citi, shares insights on the S&P 500 and the risks surrounding AI-driven stocks. Diana Olick, CNBC real estate correspondent, dives into the rising popularity of adjustable-rate mortgages amidst affordability challenges. The discussion also covers gold's historic rally as a reaction to declining trust in central banks, alongside tech's momentum with emerging AI products and partnerships that could reshape market strategies.

Jensen Huang shares insights on Nvidia's role in AI, igniting discussions on the future of tech. Gold hits a historic high of over $4,000, positioning itself as a crucial investment and inflation hedge. Tesla unveils more affordable Model Y and Model 3 electric vehicles, stirring market excitement. Concerns arise over freight recession indicators and the impacts on holiday inventory. Plus, Michael Dell weighs in on data center dynamics while highlighting the competition in AI infrastructure.

Robert Kaplan, former Dallas Fed president and Goldman Sachs vice chair, shares insights on inflation and labor market dynamics, amid a government shutdown. He discusses the cautious stance on Fed rate cuts and the rise of gold amidst fiscal concerns. Joining him, Orlando Bravo, co-founder of Thoma Bravo, argues that AI is driving substantial growth, distinguishing it from a bubble. He explores AI's transformative effects on software and warns of potential job displacement in call centers, all while advocating for savvy investment choices in the private market.