9AM Hour: Nvidia Jumps Into the PC Market, Softbank's Masa Son on $80B+ AI Investment, Faber at Stargate's Data Center 6/1/26

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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 Monday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer here at Post 9 of the New York Stock Exchange. Faber's at Stargate's Data Center in Michigan. A lot more on that in just a moment. Meantime, we do kick off the month of June. Future strong, S&P going for a 10th straight weekly gain, which would be the longest since the mid 1980s. Software's on a tear, jobs number on Friday. Oil is higher as the US and Iran trade these fresh blows as this apparent stalemate continues. The VIX is still below 16 Our roadmap begins with the AI revolution. Faber's on the road live in Michigan at one of Stargate's data centers, part of the AI transition, which SoftBank's Masa-san tells CNBC is 50 times bigger than the.com boom. Nvidia jumping into personal PCs, announcing some new products overnight, actually pressuring shares of Intel, Qualcomm, and AMD. And then, of course, there's Berkshire buying Taylor Morrison, one of Berkshire's first major moves since Greg Abel succeeded Buffett as CEO.

Let's begin, though, with David at Stargate's Data Center in Michigan. Big day, David. What do you got?

David Faber (2:18)

Yeah, we got a lot of different people to interview, of course, here, but also just to get a feel for the size and scope of these projects, guys. We talk about it so often, so much of what we discuss in terms of the stock stories that we are constantly analyzing, end up being about things that will go here in what will be an enormous, enormous data center. There you can see drone shots of the property that I am currently on. It's in Saline Township in Michigan. 250 developed acres. It's a thousand acre site, but 750 acres will remain undeveloped, but you get a size of the scope from looking at that and from looking at me, perhaps, with some of the, a lot of cat-moving equipment around here, Jim, by the way.

$16 billion was the price. We've had Jeff Blau from Related Digital, who will join us again in a bit here as well. On the show discussing this deal, remember they did it as a 144A where PIMCO came in for a lot of the debt. Blackstone and Related Digital are the equity here, but the size, scope, the dollars, all of this, of course, going into a site that will consume as much as 1.4 gigawatts of power. That's what your sort of typical nuclear plant would give out, Jim, just to get a sense here as to what we're talking about. Power, data centers, and then everything that goes in them that we talk about so often.

Jim Cramer (3:46)

I am so thrilled you're there, because I feel like part of the narrative that's been lost is what's actually going on at these places. And also, frankly, what Oracle's doing, because that stock's been up huge. All we do is focus on the anthropic and focus on OpenAI and SpaceX. David, I will tell you last night in a seminal speech at Computex, you heard Jensen Wong talking about how these places are beginning to make people a lot of money. Are they talking about once it's done, being able to make a lot of money off of the compute that it will generate?

David Faber (4:24)