Buffett Bets on Japan, Alibaba's AI Launch, Bitcoin Surpasses $30,000 4/11/23

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 11 April 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed Warren Buffett's investment strategy. The billionaire investor said Berkshire Hathaway raised its stake in five Japanese holding companies by 7.4% each -- and is considering buying more. AI also in the spotlight: Alibaba rolls out a system to rival ChatGPT, AI faces new scrutiny in both the U.S. and China, plus anchor reaction to what former Google CEO Eric Schmidt told CNBC about AI. Also in focus: Markets brace for Wednesday's CPI data, bitcoin hits a ten-month high and surpasses $30,000, playing the chip sector, Cramer's list of underappreciated Dow stocks. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanay with Jim Kramer. David Faber is back at post-9 of the New York Stock Exchange. Stocks biting their time ahead of CPI tomorrow. Bond yields continue to rattle around in a range, 10-year-3-4, got some dollar weakness, and with that Bitcoin
0:21.3	back above 30K at 10-month high. A robot begins with stocks treading some water here, investors
0:26.1	awaiting key reads on the economy. And New York Fed President William says he sees no signs
0:31.8	yet of credit tightening. Plus, Warren Buffett is boosting his stake in Japan's big trading
0:36.8	houses and says he may buy more. And Alibaba, well,ett is boosting his stake in Japan's big trading houses and says he may buy more.
0:40.3	And Alibaba, well, it is getting into the AI arms race.
0:43.7	Perhaps no surprise there.
0:44.9	China also slapping security reviews on AI products in the country.
0:49.9	Let's begin with the markets ahead of tomorrow's a CPI data, Jim.
0:53.2	Everybody's taking a crack at it. J.P. Morgan, for one, though, sees core up five-tenths. That'd be four months of accelerating gains. Yeah, we don't want that. We don't want that. That would be it would just make it so he has to raise again. Listen to what Williams said. What numbers are Williams looking at? We got numbers in the last
1:11.6	two weeks, which basically says there's been a full off in loans, this is rather dramatic.
1:16.3	I think that every bank is worried about it, a bank examiner, because the bank examiners are worried
1:21.6	about their own jobs, because what a bad job they did in San Francisco. So, David, I got to tell
1:27.1	you, anything that makes it so that credit is tighter makes it
1:33.6	so the palace job is easier because you're not going to expand.
1:36.4	And there's not going to be as many job openings.
1:39.3	But there's this otherworldly group of Fed people who don't think that Silicon Valley Bank happened or they think it doesn't matter.
1:48.3	Yeah.
1:48.8	Why would they think that?
1:51.4	Well, because they know nothing?
1:53.0	I don't know.
1:54.3	Why would they think that?
	...

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