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Squawk on the Street

Nvidia and AMD Up the Ante on AI, Paramount M&A Update, GameStop Soars, J&J CEO Exclusive 06/03/24

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 3 June 2024

⏱️ 46 minutes

🧾️ Download transcript

Summary

On the first trading day of June, Carl Quintanilla, Jim Cramer and David Faber explored the AI chips race. Nvidia unveiled its next-generation platform and said it plans to roll out versions of its AI chips every year. AMD launched its own lineup of AI chips in an effort to take on its trillion-dollar rival. David reported that Skydance is poised to announce a takeover of Paramount Global in the coming days. Also in focus: An exclusive interview with Johnson & Johnson CEO Joaquin Duato, GameStop shares soar as meme stock madness returns, Tesla strikes back at ISS ahead of this month’s Elon Musk pay package vote. Squawk on the Street Disclaimer

Transcript

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0:00.0

It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street.

0:04.7

Don't miss a minute of the action.

0:13.4

Good Monday morning. Welcome to Squawk in the Street. I'm Carl Kintanilla with Jim Kramer, David Faber,

0:17.3

post-night of the New York Stock Exchange. We do kick off the month of June. These first couple of weeks will be busy. Jobs number, ECB, CPI, Fed Decision. Futures are pretty solid after

0:26.6

Friday's monster closing rally. Ten year is back below four and a half. Our roadmap begins with

0:31.4

the AI race, the rivalry intensifying over the weekend as NVIDIA and AMD preview these new

0:36.9

generations of chips powering the global

0:39.1

AI boom. Plus Johnson and Johnson closes its $14 billion acquisition of Shockwave Medical and

0:44.4

unveils new data on its highly anticipated lung cancer treatment. Jay and J.N. CEO joins us

0:49.0

exclusively. That's just a few minutes from now. And the memes roar back. You heard Becky just talking about it.

0:55.0

GameStop shares surging pre-market this after Roaring Kitty

0:59.0

revealed that he may have a huge position in the stock proof options.

1:04.0

Let's begin with NVIDIA rising in the pre-market company unveils the roadmap for its next-generation AI chips.

1:10.0

The platform titled Rubin is slated for a 2026 rollout.

1:14.6

Blackwell, as you may know, was launched just months ago, is on tap for 25.

1:18.6

NVIDIA says it is committed to releasing a new AI chip architecture every year.

1:23.6

Jim, we sort of highlighted these keynotes over the weekend.

1:25.6

It's a good thing we did.

1:26.6

Okay, so it's a joy. The two hour, one was just a joy. And there were very, very interesting

1:33.6

moments where you didn't know what was real, what was AI. But he explained accelerated computing

1:39.3

and AI and then to the new generation, which is going to be $5, $6 billion to build, run cooler, and have a lot of video.

1:50.4

So, I mean, I think that David, when you see what he's up to and then you read these articles about how AI is over, the contrast is ridiculous.

...

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