Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kinteney with Jim Kramer at Post 9 of the New York Stock Exchange.

Faber has the morning off. More all-time highs are in sight on a morning bursting with news.

AI deals, bank M&A, CEO succession, and a government shutdown now in day six, tenure yields back up to 416.

We're going to begin, though, this morning with today's big development in the world of AI.

Shares of AMD surging in the pre-market, the chip maker, and Open AI announcing a multi-year partnership.

The agreement calls for the maker of Chad GPT to purchase six gigawatts of AMD's instinct GPUs with a one gigawatt deployment to begin in the second half of next year.

OpenAI will receive a warrant for up to 160 million AMD shares, which could result in 10% ownership in the chip maker if it's fully exercised.

We're going to talk to AMD's CEO Lisa

Sue and OpenAI co-founder and President Greg Brockman later on this hour, Jim. This is a very

big deal on a month that we've seen deal after deal. Absolutely. Look, I think this is a

verification of the total addressable market. I think it's also a verification that when

Jensen Wong went on Brad Gursner's excellent

podcast, he talked about how there is no quid pro quo. They can take that money to whoever they

want. Well, they did. They went with the, with the competitors. Also it says that it would get

to talk with Lisa soon that her, her MI 450 may be equal or superior, I think she'll say, to the current

version of Nvidia. We've got to find out. And then I also want to say to people that if you

watch that interview with Sam Olman and John Ford and this gentleman, we're going to be interviewing,

you really did come back with this is the closest relationship of Maginal. And now we know that that's not. And why do they have to do it? I think it's because there is such a big market. They feel like they have to. They don't want to lose out to others. And, Carl, I think that the skeptics are going to be there and they're going to say, look, they don't have the money. I will come back and say the skeptics were saying, you know, what, last week, they made the, Invidian made a sweetheart deal, a circular deal, a lazy Susan deal. They give them money and then they get it back. Well, that was totally wrong. And I urged the skeptics to rethink how skeptical they should be.

I think this is all real.

We were joking.

Santoli and I in the corner.

...