Market Moving Insight and Analysis.

Join Jim Kramer, David Faber and me, Carl Cantonea,

on the opening bell hour of CNBC Squawk on the Street. Good Thursday morning, welcome to Squawk on the Street. I'm Carl Cantoneo with Jim Kramer, who's back, David Faber, post-9 of the New York Stock Exchange. What a morning we have on tap. The RMIPO, China cuts reserve requirements, BCB hikes, UAW strike deadline, and the

ecodator runs hot from retail sales to PPI.

We've got oil above 90 for the first time this year.

We're going to begin, though, with this year's biggest IPO.

Arm pricing its offer at 51, that's the high end of the projected range and valuing the

soft bank-owned chip designer at $54.5 billion, fully diluted.

Arm, whose customers include Apple and Nvidia, looking to ride this AI wave, listing on the NASDAQ today under ARM.

And David has this exclusive with Rene Haas and Masa San in just a few moments, right, David?

Yeah, you know, list some pricing, as you say, 51.

My understanding is that they could have gone 52.

That's what I've been told by any number of people.

But Masa said, let's do 51 with the prospect, Jim, that that at least will position it better for some sort of positive open.

And that's important here, given the importance of armed to the overall IPO market,

given the size of this offering, the focus on it, and the fact that we are expecting more to follow.

If it doesn't perform well, that might leave not particularly good taste, so to speak, in investors' mouths.

I'm hearing, you know, the hedge funds have been paired back, long only, sovereign funds

have stepped up and converted from what was interest to actual buying power.

So we'll see how it performs, Jim.

On the fundamentals, listen, it's highly valued.

Lease basis when you look at the last 12 months, obviously it's about the future, and that's what they've been focused on. Well, it's interesting you talk about the long only and obviously these anchor tenants. The anchor tenants themselves are not going to be held to, I paid too high for something. I paid a hundred times versus, say, cadence and synopsis, which are my comps. And you need that because, remember, if you get at 51, you got to be able to sell it at 58.

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