Closing Bell Overtime: Fresh Scrutiny for AI Trade; AMD Results & a Software Slaughter 2/3/26

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 3 February 2026

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets digest a flood of major earnings while tech volatility takes center stage. Jim Cramer interviewed NVIDIA CEO Jensen Huang and talks the AI trade scrutiny. Huang weighs in on OpenAI’s massive fundraising round. Ke reports from AMD, Amgen, Chipotle, Mondelez and Super Micro. Christopher Rolland, Senior Analyst at Susquehanna, analyzes what the AMD results mean for the broader semiconductor trade. Jackson Ader, Senior Research Analyst at KeyBanc, joins to discuss the ongoing software selloff, while Venu Krishna, Head of U.S. Equity Strategy at Barclays, offers insight on market positioning and earnings momentum. A look ahead to Alphabet’s earnings with Gil Luria, Managing Director and Senior Software Analyst at D.A. Davidson.

Transcript

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0:00.0	The bell is bringing an end to the trading day at the NYSC Tyler Technologies and at the
0:06.0	NASAC, Microsoft ringing the bell. Welcome to closing bell overtime. I'm live from Studio B at the
0:10.3	Nazak market site. I'm Melissa Lee along with Mike Santoli. Sox sinking across the board but well
0:15.3	off the worst levels of the session. Small loss for the Dow, S&P 500 down, about a percent. The
0:20.2	NASAC lower by one and a half percent.
0:22.2	The Russell turning positive.
0:23.8	Software gets slammed, chips get wrecked, and crypto crushed.
0:27.5	But we've also got a long list of earnings reports due out in the next few minutes.
0:31.3	AMD and Chipotle, chief among them, were also all over today's big moves.
0:35.8	Let's start with Sima Modi on the carnage in
0:38.3	taxima.
0:39.3	Michael, the software complex unraveling today as investor unease rises around the threat
0:43.3	of Anthropics Cloud and how fast it could challenge the incumbents in software today.
0:48.3	It was the large-cap names like a Salesforce, Adobe Snowflake that traded down sharply.
0:52.3	But then that extended to companies like Legal Zoom and Workday that specialize in legal and human resource management tools.
0:59.7	All these stocks ending lower, News of Clause, new plug-in, also pressuring shares of data analytics companies.
1:05.6	Take a look at Thompson Reuters, FACSet, Moody's, NASDAQ, all down on the day.
1:10.5	Online travel companies also took it on the chin.
1:13.5	If we look at names like booking, Expedia, and Airbnb, and then there's those questions around the status of the NVIDIA-OPA relationship weighing on the broader semiconductor sector.
1:23.4	We did see shares of NVIDIA turn higher in After Hours trade.
1:31.9	Jensen Wong telling CBC that that deal, everything is on track.
1:34.1	Guys, in terms of where we saw pockets of green,
	...

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