F1 Heads to Miami with Toto Wolff, UAE Leaves OPEC 4/28/26

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 28 April 2026

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The United Arab Emirates has announced that it will leave OPEC, effective May 1. CNBC’s Brian Sullivan breaks down the role that the UAE has played in the group since joining in the 1960s. In business, a WSJ report reveals that OpenAI missed internal growth targets. The news comes as SpaceX, Anthropic, and OpenAI consider IPOs; three new debuts, each with enormous demand, mean the AI race is now also a race for public capital. This weekend, Formula 1 heads to Miami. Mercedes team principal and CEO Toto Wolff discusses F1’s regulation evolution and his team’s star driver: the youngest Championship leader ever, Kimi Antonelli. Plus, CNBC’s Sharon Epperson discusses the importance of financial transparency in families and the real costs of skipping financial conversations with your kids. Toto Wolff - 17:14 Sharon Epperson - 27:48 In this episode: Brian Sullivan, @SullyCNBC Sharon Epperson, @sharon_epperson Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

Click on a timestamp to play from that location

0:00.0	bring in show music please this is squawk pod and i'm cnbc producer cameron costa on today's episode
0:09.8	breaking news out of the united arab eminence the pretty big headline for a random tuesday morning
0:17.6	our own brian sullivan on the ua e's decision to leave OPEC come May 1st.
0:24.2	The UAE was a critical member, not just in terms of oil partnerships, but in terms of just sort of the diplomacy itself within the group.
0:32.9	The AI race to go public.
0:35.9	What concerns may be lurking under the hood at OpenAI and the ongoing race for capital.
0:42.4	Whoever goes public first, if you believe that SpaceX is going public first, meaning a lot of liquidity is going out of the market.
0:50.8	And then you actually have to get into a race for who comes next.
0:53.5	Anthropic or Open AI. Is it a zero-sum game?
0:57.3	Then a different kind of race, Mercedes F1 team principal and CEO, Toto Wolf.
1:03.6	We tend to be very nostalgic, how great the past was.
1:07.0	Ahead of the Miami Grand Prix, he's talking F-1's ever-evolving regulations.
1:13.1	They called it Mario Kart, the new rules they're racing for it.
1:16.0	What do you say to them?
1:16.8	First of all, there's many people that love Mario Cars.
1:20.1	But Formula One has always been the pinnacle of racing the fastest engines and the fastest car with the best drivers, and this is still what it is.
1:28.3	Those big conversations, plus how to talk about your family's finances with your family.
1:34.8	It's April 28, 2026, and SquawkPod begins right now.
1:39.8	Stand back you by in three, two, one.
1:42.7	Cuel, please.
1:44.8	Good morning, everybody.
1:46.3	Welcome to Squawk Box right here on CNBC.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.