Market moving insight and analysis.

Join Jim Kramer, David Faber, and me, Carl Kainteneah, on the opening bell hour of CNBC Squawk on the Street. Good Wednesday morning, welcome to Squawk on the Street. I'm Carl Kaintena with Jim Kramer, David Faber at Post 9 of the New York Stock Exchange. Future is pretty steady as ADP becomes the latest in a series of soft economic prints this week at 152,000. Ten year drops to 431.

That's a two-month low, although oil does bounce a bit off the lowest price since February.

Roadmats going to begin with Elon Musk confirming the CNBC.com report, which says he redirected

Nvidia AI chip shipments meant for Tesla to X and XAI.

Speaking of AI, sure is of Nvidia.

Yes, they continue to move higher, narrowing its valuation gap with Apple and marching

toward a $3 trillion valuation.

Also ahead right here, SEC Chair, Gary Gensler's going to join us.

And what I mean here, I mean at Post

9. We're going to talk crypto regulation, mean stocks, so any number of different things that we

have in mind for him. Let's begin this morning with Tesla now about a week away from that big

vote on Musk's pay package. And separately, Elon Musk did confirm cnbc.com's story that he diverted thousands of

invidia chips originally reserved for Tesla to his other company's X and XAI, as we said.

In a post on social media X, Musk said, quote, Tesla had no place to send the Nvidia chips

to turn them on, so they would have just sat in a warehouse.

Jim, I know you've seen the Morgan Stanley report from Adam Jonas saying he's not bluffing

about taking his talents or some sort of energy elsewhere.

Well, I think that we've got to divide this thing between the actual issue of the pay package

and the vote versus what Jensen Wong wants.

Now Jensen's a CEO of the video. He's very different from most CEOs. He actually wants to know where his

product's going. He doesn't want his product hoarded. We know from the HPE, we'll get to tonight, earlier today.

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