Market Moving Insight and Analysis. Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanio with Jim Kramer and David Faber at Post 9 of the New York Stock Exchange. We are coming off the worst two days for tech stock since October. Futures do suggest we'll get more selling as Google's down 4%. Downgrade from Microsoft.

Labor data today a little sobering, jobless claims that a two-month high. A roadmap begins with

Alphabet and the AI trade. The tech giant report strong earnings, but this massive jump in

CAPEX is spooking some investors. Shares of Qualcomm and Arm Holdings are both down and early trading.

This on potentially what has seen is disappointing forecast from both of those companies.

Arm CEO, Renee Haas, will join us in a first on CNBC later in the hour.

We'll talk about the outlook for the company he leads.

And take a look at Bitcoin, or we will, because it is below 70,000.

Just heard Andrew talk about that as well.

Also silver sliding again.

Let's begin with a fresh look into big tech's

AI spending plan, shares of Google Parent Alphabet

under pressure at announcing huge CAP-X projections

for the year ahead.

Sundar Pichai explained what's driving those costs on the call.

We've been supply constrained, even as we've been ramping up our capacity. Obviously, you know, our

cap-X spend this year is an eye towards the future, and you have to keep in mind some of the

time horizons are increasing in the supply chain, etc. So we are constantly planning for the

long term and working towards that. And obviously, how we close the gap this year is a function of what we have done in the prior years, right?

And so there is that time delay to keep in mind.

Just to give viewers a sense of where this has gone, Jim, last few years, $35 billion in 03, $53,000, now $185.

My chapter trust has a small position.

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