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Squawk on the Street

Nvidia CEO Exclusive, Intel CEO on Receiving CHIPS Act Funding, Fed Decision Day 3/20/24

Squawk on the Street

CNBC

Investing, News, Business

4.1567 Ratings

🗓️ 20 March 2024

⏱️ 42 minutes

🧾️ Download transcript

Summary

Jim Cramer and David Faber led off the show with Nvidia and highlights from Jim's exclusive "Mad Money" interview with CEO Jensen Huang. The CHIPS Act also in the spotlight: Intel CEO Pat Gelsinger appeared one-on-one with Jon Fortt to talk about the billions of dollars in funding the company has been awarded. Jim and David discussed an excerpt from Cramer's interview on the CHIPS Act with Commerce Secretary Gina Raimondo, which is slated to air Wednesday night on "Mad Money." Also in focus: Fed decision day, Apple CEO Tim Cook visits China, Chipotle's 50-for-1 stock split. Squawk on the Street Disclaimer

Transcript

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0:00.0

It's Jim Kramer here.

0:01.3

You're listening to the opening bell of CBC's Squawk on the Street. Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk on the Street. I'm David Faber, live from Post 9 at the New York Stock Exchange. There he is. Jim Kramer still in San Jose at Nvidia's AI Developers Conference. We'll have highlights from, you still doing the interview as it ended? I'm not even sure. of that long interview with that

0:23.5

Jefferson Wong. We'll have highlights from, are you still doing the interview? As it ended, I'm not even sure. That long interview with Jensen Wong from NVIDIA. Let's give you a look at futures, of course, as we get ready for what Jim and I like to call. Hump Day. I call that a mixed picture. I don't know what you want to call it, Jim. Mixed. Mixed. Mixed picture. Yeah. Looks mixed.

0:40.3

Mixed. All right, good. Let's get to our roadmap. It starts with what else. Invita and the AI boom. The shares, of course, up 240% in the last year. We're going to have more from Jim's exclusive with the company CEO, Jensen Wong, and why he thinks the PC is changing forever.

0:58.1

Speaking of PCs, the engine behind them, Intel, preparing for a $100 billion spending spree across four states.

1:06.1

This, after securing Chips Act grants from Uncle Sam, We're going to hear from Commerce Secretary Romando

1:12.9

and Intel CEO Pat Gelsinger.

1:15.3

That'll be this hour.

1:17.1

And, of course, don't forget it's Powell's moment.

1:19.2

Wall Street waiting for the latest guidance

1:21.0

from the Fed Chair today on the future of rates,

1:25.0

whether that might include some cuts. Let's start with Invidia. Jim's exclusive, of rates, whether that might include some cuts.

1:29.3

Let's start with Invidia.

1:30.3

Jim's exclusive, of course, with Jensen Wong.

1:32.3

He spoke on Mad Money about reinventing the computer.

1:36.3

Take a listen.

1:38.3

We reinvented the computer as we know it.

1:41.3

The computer has been the same since 1964, since the year after I was born.

1:45.0

And we reinvented it with this idea called accelerated computing.

1:49.0

Now you could have a computer that's a hundred times faster or 20 times more energy efficient,

1:57.0

cost 20 times less, and to be able to solve problems at a scale that nobody's ever imagined.

2:05.2

Jim, you know, so many different takeaways, including that. It's something you've been discussing to a certain

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