Good Thursday morning, welcome to squawk on the street.

I'm Carl Kintenea with Mike Santoli, David Faber here at Post 9 of the New York Stock Exchange. Sarah has the morning off. Coming up this hour, tech expert Ben Wright's is from Melius, will be with us. Break down these earnings from Nvidia and maybe Salesforce, as Nvidia now pulls back about 3% plus. Two big interviews you do not want to miss. Zoom's chief Eric Yuan will join us as that

stock pulls back hard after turning in a mixed quarter. And IMAX's Rich Gelfand is here as the

theater company shares rise on some solid results. Meantime watching, I guess the turnaround in

NVIDIA from pre-marketed levels, Mike. For sure. Actually, after the close, after the report, touched $200 briefly and then did pull back.

I mean, it seems as if people kind of got revved up ahead of this number.

This is an amazingly transparent earnings model, and I think that we have to kind of recognize that.

We know where all the money is coming from.

We know the demand.

We know they're going to raise guidance a little bit.

I guess it was even better than anticipated.

What it really did today is catalyze a sell semis to buy software trade.

I mean, it's radical this morning.

And it's almost as if people took to heart what Jensen Wong said about,

hey, we're not out there to kill software.

It's still going to be alive.

That's the semiconductor ETF relative to the software ETF.

Now, that is a 10-year chart.

So that shows you kind of like what atmospheric level we've gotten to relative to the history of this.

So we're pulling, that basically is reversing by like four or five percentage points today.

So whether that's just kind of this reflection of we're still in this market where you've got to sell something to buy

something, we had two days where you have mega caps taking the lead again. S&P gets a little bit

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