9AM Hour: Broadcom Tumbles and Drags Down the AI trade, Dow Rallies, SpaceX IPO Roadshow 6/4/26

Squawk on the Street

CNBC

Investing, News, Business

4.0 • 566 Ratings

🗓️ 4 June 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber explored the tech sector being dragged down by a member of the trillion-dollar club: Broadcom shares tumbled in reaction to the company missing on quarterly revenue and reiterating long-term AI chip sales guidance. A different story for the Dow: The blue-chip index gained more than 700 points. The anchors also discussed Elon Musk's SpaceX gearing up for its IPO roadshow after it filed plans for a $135 per share offering, valuing the company at nearly $1.8 trillion. Public debut day for Honeywell's Quantinuum, whose CEO joined the show to discuss the future for the quantum computing company. Also in focus: CrowdStrike slides, Blackstone's flagship private credit fund redemptions. Squawk on the Street Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintanilla,
0:05.0	on the opening bell hour of CNBC Squawk on the Street.
0:12.0	Good Thursday morning, welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer, David
0:18.6	Faber, at post nine of the New York Stock Exchange. Market looks to rotate a bit at the open as Broadcom's quarter does disappoint, pulling down
0:25.4	semis, crowd strike down double digits, Sienna down seven. This could be the Dow's best day
0:31.0	against the queues in more than a year. Oil is lower on hopes for more progress toward
0:35.7	Iran deal, although Hezbollah leadership today
0:37.9	calls that Israeli Lebanon ceasefire, quote, shameless. A roadmap begins with Broadcom's brutal
0:44.1	quarter, stocks down double digits in the pre-market dragging down, a lot of other high-flying
0:48.3	tech names. Plus, we're keeping an eye on the highly anticipated IPOs that are out there.
0:53.1	Of course, SpaceX being number one, set to
0:55.1	kick off its road show today. Anthropic, that could be a number of months from now. It does tap
1:00.5	Morgan Stanley, it appears, at least according to reports, as its lead banker. And speaking of going
1:06.1	public, Honeywell spin-off Quantinium is set to make its market debut today, that quantum computing company,
1:12.5	price of shares at 60 bucks.
1:14.3	CEO will join us first on CNBC this hour.
1:18.0	Let's begin with this rough morning for tech.
1:20.2	Broadcom shares taking a hit on track to erase $300 billion in valuation.
1:24.8	Could be a top three single stock market cap loss today.
1:28.0	A company posts a quarterly revenue miss, reiterates 2027 AI chip sales guidance.
1:33.4	This is Hock Tan on the call last night.
1:36.1	For the full year 2026, we expect to achieve AI semiconductor revenue of $56 billion, up approximately 180% from fiscal 2025.
	...

Transcript will be available on the free plan in 23 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.