Good Monday morning again. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintanilla

live from Post 9 of the New York Stock Exchange. Today we are joined by veteran investor Dan Niles,

now expecting a so-called speed bump for stocks. Find out the risk he sees ahead.

It's a beneficiary of the AI infrastructure

build out, and now the building material supplier, CRH, looking to expand its U.S. footprint,

acquiring competitor Arcoza in its largest deal ever. We're joined exclusively by CEO Jim Mintern.

And as the White House touts progress in the first round of U.S. Iran talks, and the U.S.

authorizes Iranian oil sales through August. We're going to talk to one former diplomat about the key challenges he still sees ahead for the current talks. As for the market, it's pretty nice open. Have this midday stumble here with the NASDAG down about a percent. Big story at the moment is going to become services down four and a half percent,

and a lot of that is going to be Google down six and a half, meta down three almost, not

helping too much, but that is, as we said earlier, one of the worst days for Alphabet in about a year.

Yeah, I mean, not a specific catalyst. We did, there was news over the weekend that one of its

key AI researchers moved over to Anthropic.

This after another key researcher went to Open AI before that.

Perhaps that's weighing on the trade.

But overall, just Meg 7 lower, even though there's strength in chips like Intel and Micron.

We're getting some breaking news right now on SpaceX's AI business.

Deirda Gbosa has that for us.

Hey, good morning, guys.

So, SpaceX has signed another major compute deal this time with Reflection AI.

This is an open source startup, last valued at $25 billion.

Now, reflection will get access to Nvidia's top-of-the-line AI trips used to train and run advanced models.

It has agreed to pay SpaceX $150 million a month starting July 1st through 2029.

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