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 Monday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer, David Faber, Post-9 of the New York Stock Exchange. Futures are green coming off three straight down weeks for the NASDAQ and the S&P, about 4% off the all-time highs. It is a holiday shortened week.

We'll get some retail and tech earnings this week.

VIX is back below 23.

A roadmap begins with what's next for the markets in this AI trade after Nvidia failed to save the day last week.

Plus, Treasury, Secretary Scott Besson does not think there will be a recession next year.

He also says the administration is planning an announcement involving health care this week.

Speaking of health care, shares in Nova Nordisk.

They're down sharply in the early trading.

Lilly, though, it's competitor, of course, in the GOP1 area.

That hit a major milestone on Friday.

No other big pharma company has ever hit.

Let's begin with tech coming off the worst week since April after this continued weakness in the AI trade.

Nvidia is on pace for its worst month since March or so, Jim, as shares of Nvidia and

Alphabet have really separated the last few weeks. Right. And I think there's a lot of chatter

today about

about Gemini. Gemini versus ChatGTP. I don't know about you guys. A series of inquiries that I put to it

indicates that it still recognizes that Chat Chip-T has got many more users. But there are

substantive reasons to believe that Gemini is better.

And I think a lot of people realize that therefore, Gemini's not trained, large part,

on NVIDIAs change on what is basically a broadcom chip.

TPUs at Google, which in particular for inference made this point many times.

We've had analysts on who differ on the impact of it, but essentially the fact that Alphabet does not have to buy as many GPUs as its competitors may give it some sort of a cost advantage, perhaps.

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