It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.

Don't miss a minute of the action. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kinteneer with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Pre-market fairly stable following the lightest S&P volume day in about four weeks. Bank regulators on the Hill today. We've got earnings from Walgreens, PVH, of course, Micron Lulu tonight.

Robeskomen, Gunavis. day in about four weeks. Bank regulators on the hill today. We've got earnings from Walgreens,

PVA, of course, Micron Lulu tonight. Robeskmen are going to be in with the Alibati breakup,

planning to split into six units and explore separate IPOs. Shares are popping ahead of the open.

Plus AI in the Metaverse, Disney's Metaverse unit getting the axe, while Goldman warns a potential significant

disruption to the labor market due to AI. And there's a leadership shakeup at Lyft. Will it be

enough to stem that stock's continued slide? Let's begin with Alibaba up sharply in the pre-market

on this decision to split into six independent entities, including cloud, Chinese e-commerce, global e-commerce, a media and entertainment group.

Each unit will have its own CEO and board.

The move comes one day after founder Jack Ma returned to mainland China for the first time in almost a year and sort of dovetails with this push, Jim, to meet with Apple and ASML. Yeah, it's a charm offensive. And everybody knows that Bob is the love stock. They could do it with by-due coming up. You start thinking what happens if Amazon did this, where would Amazon go? I mean, look, this is just the typical Chinese trap.

All right, this is what they do.

You know, they tried to do a couple of IPOs the other day. They were both, they were bombs. So why not go with the big guns, suck everybody in, get things a little bit more, let's just say, copacetic between the two of us so they can take more of our money. Now, David, they are really about as brilliant as I've ever seen in terms of conning us.

This is one of the best cons I've ever seen.

Wow.

This is going to get everybody in. take more of our money. Now, David, they are really about as brilliant as I've ever seen in terms of conning us.

This is one of the best cons I've ever seen. Wow. This is going to get everybody in. Why are you so cynical on this? Because of the, how about because of the fact that the Seventh Fleet? How about it because of Taiwan? How about it because our two countries aren't talking? I mean, but that way, they're talking throughout it. Let's go get some American money.

Hey, maybe we line up JP Morgan on the IPOs.

Why don't do that?

Get Jamie Morgan in it? A lot of money to be made. U.S. is Craven. They're just capitalist adults. It does seem, it's not certain that they're going to be IPOs of all of these different units. Well, it depends how much money they can give us. You know, obviously e-commerce being by far the largest single part of it. Craven capitalism versus totalitarian capitalism. I'll take totalitarian capitalism many things because they win. Oh, David, all those people, all those those, those, the merchant markets people, this is our chance. Well, let's get in. But you said it. If Amazon were to say something like this or even alphabet, which already has segregated a number of its businesses into the other bets that don't really seem to

work out and everything else, their stocks would respond positively.

And in this case, you've got a lot of analysts doing some of the parts and saying,

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