9AM HOUR: AI Trade Rally: Nvidia's Blowout Quarter, Salesforce Surges 8/27/26

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**Marc Benioff** (0:27)
Courage, I learned it from my adoptive mom.

**Jensen Huang** (0:30)
Hold my hand.

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You hold my hand.

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**Jensen Huang** (0:37)
You can't imagine the reward.

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**David Faber** (0:42)
Market insight and analysis. You're listening to the opening bell of CNBC Squawk on the Street.

**Jensen Huang** (0:54)
Grow continuously and now to accelerate our growth is pretty extraordinary.

**Carl Quintanilla** (0:58)
Nvidia's Jensen Huang with Jim last night on Mad Money talking about demand acceleration and what is already the world's most valuable company. Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Nvidia is up 6 percent pre-market. That's going to help tech along with some assists from Salesforce, CrowdStrike, Okta, Bond Yields steady ahead of Jackson Hole tomorrow. Oil does remain in this range in the high 80s on Brent. Our roadmap begins with those blockbuster results from Nvidia, boosting confidence in the AI trade. You'll hear more of what Jensen Huang told Jim about continued growth in the space plus Salesforce shares.

**David Faber** (1:33)
They're also rallying this morning. We're going to find out why CEO Marc Benioff thinks the so-called SaaS apocalypse is, at least in his view, nonsense. And after Metta's landmark settlement with state AGs yesterday, legal challenges, while they still remain, we're going to talk with California's Attorney General. He co-led the case.
Rob Bonta will join us later in Squawk on the Street.

**Carl Quintanilla** (1:57)
Let's of course though begin with Nvidia's blowout quarter in this bullish sales guidance. This company does say it sees revenue growing 70% for fiscal 28 Jim, that along with the gross margin guide answering a lot of concerns.

**Jim Cramer** (2:09)
Yeah, I mean, if you look at the narrative, the company reports it doesn't give you that forecast. They just report flat out what their numbers are, and the stock goes down five, six, seven. And you start thinking, wow, this is going to be another time that Nvidia reports again, and it goes down. And then suddenly they drop a ball, and the ball is instead of 45% consensus growth estimate, they're going to do 70 And that just changed everything because then suddenly you have a situation where you know that they have far more demand, you know that they're going to be able to make far more per GPU.
And you just say, you know what, whatever we've been thinking before, maybe this company is selling it 10 times earnings. And we've got one of the greatest companies on earth. David, you know that this was a night where Jensen took on, this is a night where people took on a lot of chivalrous here. You had Benioff take on Sasspocalypse, but Jensen directly took on the idea that, you know what, we are not doing circular, we wish we would do more of these deals, computer is worth a lot, and the growth is far greater than people thought.
And those who are worried about gross margins, yeah, okay, so we gave the customer benefit on DRAMs.

**David Faber** (3:25)
Well, and the growth, that 70% number to your point is constrained as a result of supply. So he is not quite sure what the number would be, were there adequate supply. In this case, we are really talking memory, I think it would be 75 or higher, yeah. So certainly being taken as a positive, we are seeing the stock obviously potentially rally as much as 5 or 6% when we get started with trading.

**Jim Cramer** (3:47)
It wasn't 225 before the political story broke.

**David Faber** (3:50)
Talk to me a bit about Vera Rubin and the ramp there, and some of the questions they may have answered there. I know there were concerns among some of the analysts, for example, about delays.

**Jim Cramer** (4:00)
He just point blank said, that's just not true.
He also talked ethereally about the idea of hundreds of thousands of jobs being created as opposed to loss. I thought that was important. That's not really Nvidia, but he did say that hundreds of thousands of jobs are being created by what they're doing.