Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Cantonio with Leslie Picker,

David Faber here at Post 9 of the New York Stock Exchange. Sarah Eisen is off today.

Coming up in just a minute, a rare interview with Broadcom's chief Hock Tan and OpenAI's president

and co-founder Greg Brockman just unveiling OpenAI's first intelligence processor.

They're calling it Halapeno.

Then Massachusetts Senator Warren's with us, leading the charge on this bipartisan housing bill,

expected to be signed by the president in just a few hours.

We'll speak with one of the earliest cerebrous investors as well.

He's also a current board member, the chipmaker's stock falling today after reporting earnings for the first time since going public.

New home sales just crossing the tape.

Rick Santelli has that for us.

Hey, Rick.

Hi, Leslie.

Indeed.

This is a may read on new home sales.

Single family homes.

We're expecting a number of 635 to 640,000,

seasonally adjusted annualized units. Big Miss here, 580,000. That's off over 7% from a slightly

revised last month at 626,000. And it's the second weakest number of the year.

This is the lowest level since January, so we want to pay attention to this.

And we do understand, of course, some of the elevated rates have made a difference,

although they are coming down. Right now, two years down five base points, 10 years down nine basis points.

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