SOTS 2nd Hour: Qualcomm News, A Possible Trade Truce, & The Case Against AI Super-Intelligence 10/27/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 27 October 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Leslie Picker, Carl Quintanilla, and David Faber kicked off the hour with breaking news out of Qualcomm - sending those shares surging - before getting the latest on the trade front out of Washington, and more on how to trade it all with Interactive Brokers Chief Strategist Steve Sosnick. Plus: reaction from a top analyst in the semis space on all the headlines - and what a trade war truce could mean for the group... Along with more on the day's other big movers: including Keurig Dr. Pepper, Tesla, and a new deal within the banks. Also in focus: the case *against* AI super-intelligence... Some of the world's best and brightest signing a new petition to ban advanced AI, saying it poses a danger from security risks to human extinction. Hear from one professor who joined the pledge about what's at stake and why he signed.

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanee with Leslie Picker and David Faber live at post 9 of the New York Stock Exchange.
0:06.2	Sarah Eisen's on assignment traveling to Saudi Arabia for the country's annual investment conference.
0:11.4	Meantime, record highs across the board, building on Friday's records as well. Most sectors are green.
0:16.6	Some defensives are on the back foot. Materials, health, and staples are red, and yields are pretty steady.
0:22.9	Today, the case against superintelligence will talk to a professor who signed a petition to ban
0:28.5	advanced AI, says unchecked advancements are like plain Russian roulette with every person on earth.
0:34.8	Chipstocks jumping this morning as optimism builds around a China trade deal.
0:38.4	Analyst Stacey Razgun will join us to break down the companies that might benefit the most
0:42.3	from a better relationship between Washington and Beijing.
0:45.8	Speaking of the chips, we got some breaking news this morning out of Qualcomm, and for that,
0:49.5	we'll turn to Christina Parts Nevelos. Morning, Christina.
0:52.0	Good morning, Carlcom just announced it's taking
0:55.2	on Nvidia in AI chips, a massive pivot for a company that built its empire on smartphones. So,
1:00.6	they're launching new data center AI chips starting in 2026, and they also just announced their
1:05.4	first major customer that would be Saudi-backed AI startup humane, targeting roughly 200 megawatts of capacity
1:12.8	starting in 2026. So they're not essentially going after AI training. That's the market that
1:17.6	made Nvidia worth over $4 trillion. Qualcomm is targeting inference. That's running AI models,
1:23.3	not necessarily building them. So every time you use chat GPT or generate an AI image,
1:28.0	that's inference. So training builds the models. Inference uses them billions of times a day. Qualcomm
1:33.7	thinks the market is going to be enormous. Nearly $6. trillion, almost $7 trillion in data center
1:39.6	spending is expected through 2030, according to McKinsey. And so just capturing about 5 to 10%, maybe just even 5% of that market, would transform Qualcomm's
1:49.0	business.
	...

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