Nasdaq's Record High, Amazon CEO Jassy on AI Capex, Palantir vs. "AI Slop." 5/5/26

Squawk on the Street

CNBC

News, Investing, Business

4.0 • 566 Ratings

🗓️ 5 May 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber drilled down on tech propelling the Nasdaq to a new all-time high. The anchors discussed what Amazon CEO Andy Jassy told Jim Monday night on "Mad Money" about the company's Al capex strategy. Speaking of AI: Palantir shares pulled back despite a Q1 beat, record revenue growth and raised guidance. Hear what the company's CEO Alex Karp said on its earnings call about "AI slop." Also in focus: What Alphabet President Ruth Porat told David about AI risks during an on-stage session at the Milken Global Conference, Paramount slides on earnings, Shopify President Harley Finkelstein joined the program to discuss results and guidance that weighed on the stock. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market moving insight and analysis.
0:02.1	Join Jim Kramer, David Faber and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street.
0:14.3	Good Tuesday morning.
0:15.3	Welcome to Squawk on the street.
0:16.3	I'm Carl Kintania with Jim Kramer at Post-Nine to the New York Stock Exchange.
0:19.2	Fabers at Milkken once again in
0:21.1	Beverly Hills. Oil prices behaving pretty well this morning after the highest settle for Brent
0:25.6	yesterday in almost four years. The defense secretary argues the ceasefire with Iran is holding
0:30.6	and ads, we're not looking for a fight. Futures are green. S&P is going to try to get close
0:35.7	to some all-time highs. A lot of stocks raising guidance today like DuPont and Pinterest, although that long bond is still holding 5% today.
0:43.7	Our roadmap begins with Amazon's AI ambitions.
0:46.2	Andy Jassy telling Jim last night, investors will be rewarded by the company's heavy AI spend.
0:51.9	Speaking of AI, we'll dig through Palantir's numbers after the company
0:55.3	posted its fastest increase in sales since 2020. And Shopify's down pre-market on Q1 results,
1:01.6	we'll talk to the company's president, Harley-Thinklstein, later on this hour.
1:07.1	Let's begin, though, with Jim's interview with Andy Jassy last night on Mad Money.
1:14.3	Take a listen to what the Amazon CEO had to say about CAPX and AI.
1:24.8	The really big capital expenditure bet that we're making is because we believe that AI is the biggest technology transformation in our lifetimes.
1:27.5	It's going to reinvent every single customer experience we know and altogether new ones we never imagined. After the first three years of AWS, we thought
1:32.2	we were growing really fast and we were about $56 million in revenue. And after the first
1:37.6	three years of this inflection of AI or this incarnation of AI, our run rates over $15 billion, 260 times what it was the first
1:47.0	three years of AWS.
	...

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