Squawk on the Street

The third hour of CNBC’s "Squawk on the Street" with Carl Quintanilla and Sara Eisen is broadcast each weekday from the floor of the New York Stock Exchange, with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds.

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Energy Secretary Chris Wright joins Squawk on the Street to discuss the future of nuclear power in the U.S., the administration’s approach to Iran sanctions, and the outlook for domestic energy production. Plus, Apple’s latest price increases put the spotlight on rising memory costs as AI demand sends memory-chip stocks soaring.

 

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Carl Quintanilla, David Faber and Michael Santoli led off the show with tech and the AI Trade: Shares of Micron soared after the memory chip maker posted a blowout quarter. Apple announced it is hiking prices on MacBooks and iPads due to the memory chip crunch. Shares of the iPhone maker fell sharply, helping to drag the Nasdaq into negative territory in Thursday's trading and erasing the optimism sparked by Micron. Core PCE — the Fed's preferred inflation gauge — rose in May to year-on-year levels not seen since 2023. Also in focus: Qualcomm surges, oil prices fall to fresh pre-Iran war lows, a JPMorgan Chase executive seen a potential successor to CEO Jamie Dimon is leaving the bank, Anthropic vs. Alibaba, all things SpaceX.

 

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Semis in focus as Broadcom unveils a new custom chip with OpenAI, Micron awaits earnings after the bell, and Cerebras shares slump on the company's first report as a public company. Cerebras' CEO joined the team with his first take on the stock move. Plus: a live look at the world's largest gas turbine engine factory - and what it means for stocks like GE Vernova - along with reaction from the head of one of the nation's biggest homebuilders to the President's surprise pivot on a key housing affordability bill. 

 

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Breaking this hour: Sen. Elizabeth Warren reacts to President Trump’s decision to cancel the planned signing of a bipartisan housing bill. Plus, why she says data centers are hurting local communities. Then, Broadcom CEO Hock Tan and OpenAI President Greg Brockman discuss a new AI processor “Jalapeño,” and just how much demand they are seeing for compute. And Cerebras board member and one of the earliest investors, Foundation Capital’s Steve Vassallo, joins the show to break down the company’s first results as a public company.

 

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