Market Moving Insight and Analysis joined Jim Kramer, David Faber, me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street.

All right. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Cantonia with David Faber and Sarah Eisen here at Post 9 of the New York Stock Exchange. Bulls trying to build on these week-to-date highs. Future suggests we might erase the losses since Thursday of last week. Tons of tech news today between Dell, NVIDIA, and HP. Jobless claims dropped to 216K. That's the lowest since August. Our roadmap begins with Alphabet's amazing run as NVIDIA does stumble.

Stocks higher again, though, in early trading, defying some fears about an AI bubble

and getting closer to that market cap milestone of $4 trillion.

Plus, Thanksgiving travel expected to surge to record levels.

We're going to get you ready before you hit the road.

You're getting a call?

It's like local news.

All right.

And Campbell's under fire defending its ingredients after an executive allegedly made

disparaging comments about the company's product and its customers.

Wait until you hear that.

Let's begin that with another busy morning involving the AI trade.

As Alphabet once again tries to hit a $4 trillion valuation.

Meantime, HSBC has this no doubt saying that OpenAI could need at least $207 billion in financing by 2030, all to meet its compute capacity commitments.

They talk about a lot of that guy is going to be going on to support

what they argue would be ongoing losses. They're actually their market share forecast for 2030

doesn't even include Google. So there's a lot out there that they're maybe not accounting for.

I mean this is this is sort of the week where the AI trade if you thought it was a bubble

and everything was being bought this week goes again and the last week goes against that very much, not just because we've seen some of these names get sold, but we've seen a real, a more discerning investor, Google winner, Broadcom winner, Nvidia, not as much of a winner. And so that's been the story of the week. It's interesting to watch some of the stocks. We mentioned Oracle has been weaker lately. Yes, there's concerns about all that's borrowing and the credit, you know, the credit quality there, but also, you know, these plays around Open AI have been weaker. SoftBank also has had a pretty rough week, you know, because they've actually had much more than a rough week. If you go back to August, it's down 43%. But there was a little bit of a like, Open AI loser, alphabet winner trade going on. And it's hard to gauge that because OpenAID is a private company, so we look at Oracle, we look at SoftBank. SoftBank is, I think, even more of the way than Oracle. but to your point oracle certainly is reflective of concerns about the overall spend and the ability to actually

have the customer there in this case a lot of it being open AI this morning though starting to hear

a little bit of the well maybe it's gone a little too far camp speak up speak up, in terms of that group of companies that, as Sarah mentioned, trade in part along with Open AI, given it's not a public company.

...