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

Don't miss a minute of the action.

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kintaniela with Jim Kramer here,

post-9 of the New York Stock Exchange favors on assignment. The market looks like another

rough Friday. Futures do add to Thursday's weakness. We are on pace for the worst November

since 2008 as two big

tail wins. The AI trade and the Fed cut trade come under pressure 10-year 408. Our roadmap this

morning goes like this. Positioning after the big tech sell-off, we'll discuss if there's more

pain to come or if it's a buying opportunity. Major shake-up at Walmart today. Doug McMillan

stepping down, stocks under some pressure

in early trading, and finding safety in the volatility, one mega-cap name that is outperforming rivals

and the one sector that is getting huge rotation on fire right now. Let's begin with the markets,

though, on track to extend the sell-off on Thursday. AI, a big topic at yesterday's delivering

alpha event at CNBC. General Atlantic CEO, Bill Ford, was asked if we are seeing a bubble.

Here's his response.

I'm going to say to be a little bit, maybe controversial, not a bubble. And I say not a bubble

because I think this is a very real tech cycle. I think back to the PC cycle, the 80s, the Internet cycle, the 90s, the mobile cycle of the 2000s, cloud 2010s, and now AI.

And this will be a very, very real market.

It will create a lot of value.

I think there will be a productivity payback long term.

So I don't think a bubble, but I do think moments of overvaluation, moments of misallocation to capital, sure. Kind of an echo, Jim, of what Jeff Bezos has said in recent weeks, David Solomon, sort of this industrial bubble idea that there will be misallocation in spots. Yeah, I spoke to Bill yesterday, and Bill's an old friend for many, many years, and I think he's a very common-sense goal. He thinks it's going to be very good. At times, we're going to get too exuberant. I think that we're one of those moments. I was telling him that I felt that the year of magical investing it ended, and he thought that that was an appropriate term. Great framing. Great framing. Just in time. Just in time. And he was, well, I mean, we are friends enough that he would say, hey, you know, it was good, you know, and proudly and stuff. And I said, look, I think that your call at delivering out was terrific because what you're saying is it's not over. It's just that there are times when people get too excited. It's not 2,000 because it was over and people kept staying too excited because they didn't have any money.

He was not as critical as I was about some of the companies that are spending too much.

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