9AM Hour: CoreWeave CEO Mike Intrator, July CPI Report, SpaceX’s AI Outlook 8/12/26

**SPEAKER_1** (0:00)
The board recommends approving...

**Carl Quintanilla** (0:01)
Regarding that seat on the committee, we're promoting...

**SPEAKER_1** (0:02)
to most quarterly earnings...

**SPEAKER_3** (0:04)
Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com/investorchoice to learn more. Vanguard Investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice. Vanguard Marketing Corporation Distributor.

**SPEAKER_4** (0:30)
Are you as confident as you should be when it comes to growing your business? Is your strategy ready to execute today?
If cash flows aren't where they need to be, growth could be at risk, especially in the eyes of your investors, board members and the business press. But when your business is operating in top shape, you've earned the right to grow. EY Parthenon can help you reimagine your business and execute a game plan for long term growth. EY Parthenon, solutions that work in practice, not just on paper.

**Carl Quintanilla** (1:00)
Market moving insight and analysis. Join Jim Cramer, David Faber and me, Carl Quintanilla, on the opening bell hour of CNBC Squawk on the Street.
Good Wednesday 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. Plenty of food for the Bulls this morning. Solid reports at a CoreWeave, Nebius, Supermicro, and then July CPI comes in solidly in line, 2-5 on Core. Goldman says that does support a Fed hold in September. Brent's holding 88 as this attack by the Houthis on the Red Sea tanker kills 6
An Iranian source tells Reuters, there are no talks right now to extend any ceasefire. A road map begins with the inflation trade, what CPI means for the Fed's rate path. Colin says she's still open to a hike.

**David Faber** (1:44)
Plus, CoreWeave shares are surging this morning. This ahead of the open after reporting its fifth consecutive quarter of record revenue boosted by AI infrastructure demand. Company CEO Mike Intrator is going to join us first on CNBC right here at Post 9 in a few minutes.
And forget rockets, hear what Elon Musk told SpaceX employees will soon be the biggest driver of its revenue.

**Carl Quintanilla** (2:07)
Let's get right to this morning's inflation data, important numbers out of CPI for July. Jim, two five, we said on Core, a tenth on the monthly headline, I guess that's familiar sound, gasoline up 24 year on year.

**Jim Cramer** (2:21)
Yeah, look, I think it's meat, poultry, fish, eggs, they decreased appreciably 0.7 percent. You know, last night I had the Cisco CEO, Kevin Hurkin, he said that the local restaurants are booming because they're passing on these price decreases, not the national guys. David, the price decreases are actually a welcome sign for what had become a belief that is poultry ever going to come down?
Is steak ever going to come down? So that's the, that and insurance are the two things that are very reassuring. The other stuff I think is variable.

**David Faber** (2:58)
Yeah, what other stuff being what, Jim?

**Jim Cramer** (3:00)
Anything related to energy. I mean, this is just, if someone says that this is the month that the Fed can hold off because of this number, I think what they're saying is they're actually making a bet that energy is going to come down. Now, they're not going to say that, but I just don't see anything in this that makes me feel that confident of food.

**David Faber** (3:15)
Yeah, and of course, energy continues to be a key question, Mark, in terms of the Strait of Hormuz and...

**Jim Cramer** (3:20)
Exactly right.

**David Faber** (3:22)
the trying to put a chokehold around the Iranian economy and whether that really will actually work.

**Jim Cramer** (3:28)
Yeah, but if anyone's going to send a tanker through, I don't think any responsible CEO is going to send a tanker through. I mean, there's someone obviously who's not responsible and goes against the US. Navy. I think that's kind of foolish.

**David Faber** (3:38)
Yeah, you can see, though, Brent is down over the last few hours.

**Carl Quintanilla** (3:43)
That said, the prospect of no hike this year is pretty tantalizing for the bulls. I see Yardeni today goes to year-end $8,400. That's a street high.

**Jim Cramer** (3:54)
Well, look, I mean, if we're not fighting the Fed, you have so much that is going for you. I mean, we sit here and we look at the research in almost every single company. Estimates are going higher and this has coppocalypse, which now people are talking about. I mean, like hello, ServiceNow down for today. But I saw people taking sales force up.