9AM Hour: Nvidia’s $500B Partnership, The Fate of Hormuz, Intel Upsizes Stock Offering 8/11/26

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The board recommends approving...

David Faber (0:01)

Regarding that seat on the committee, we're promoting...

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to most quarterly earnings...

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David Faber (1:00)

Market insight and analysis. You're listening to the opening bell of CNBC's Squawk on the Street. Good Tuesday morning.

Carl Quintanilla (1:06)

Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. Coming off the tightest intraday range of the year on Monday, pre-market steady once again as yields are off their highs. Long bond got to 528

That was a fresh 19 year high. Brent Oil up 5 straight sessions as the Journal now highlighting Gulf states who increasingly believe that Iran is in control of the Strait. Our roadmap begins with Nvidia's huge funding deal targeting 500 billion to finance rising compute costs, teaming up with Wall Street asset managers like Apollo, Blackstone and BlackRock.

David Faber (1:41)

Plus stalemate over the Strait of Hormuz continues. Deal talks show no signs of progress. Where are oil prices going to go from here? A key question.

And you just heard contests talking about this, the Bitcoin miner ride platform stock surging. Another one of those deals, of course, this had once been a Bitcoin miner. Now what is it about? Well, data centers $9 billion, in fact, in compute power with Anthropic. Sign up.

Carl Quintanilla (2:08)

Let's get right to Nvidia this morning. Teaming up, as you might know, with six large asset managers on a new push to finance more than 500 billion in AI infrastructure. This is Jensen Wong last night on this new partnership.

Jensen Wong (2:22)

These partnerships are going to pull together independent long-term capital to fund and support AI infrastructure buildout. This is an extraordinary time, as you know, because this is the first time in some 60 years that the computing industry is going through a fundamental platform shift.

Carl Quintanilla (2:40)

Jim, a lot of talk about securitization, but people are still trying to get their arms around what's essentially an MOU at this moment, yes?

Jim Cramer (2:48)

Yeah, look, I mean, I have to say, I go back to when I was in sales and trade, well, I guess private wealth management at Goldman. In 1985, we had this presentation by senior investment bankers, including one that ended up burning the firm, saying, look, we're going to securitize autos.

And I remember speaking to other senior people, well, come on, autos don't last that long.

And the guy who ran it said, Jim, listen to me. This is going to work. It's going to be one of the greatest securitization. You ought to get in there. And it offered a higher yield than anything else I offered. So I sold the hell out of it. Well, it turned out that auto securitization is almost a trillion dollar market. I think this is like that. I think these companies like BlackRock, well, you remember, it has that, it has the infrastructure fund, the GDP. They can slot this right in, offer you some higher yield paper. That's what I think's happening.

David Faber (3:39)

I mean, Jensen Wong, in a sort of a Q&A almost, written a bit after the announcement, I took this out actually because he's going exactly what you're talking about, Jim. These are the characteristics of an investible infrastructure asset. It produces revenue, serves a broad market, improves in performance over time, and can be redeployed. One of the key questions, of course, is the fact that GPUs depreciate. But he did spend a good amount of time discussing the fact that, well, right now, they're not really depreciating very much. Their residual value is significant in terms of even the H100s that are still being used and, in fact, getting rental prices above where they were certainly not that long ago. So that said, to Carl's point, it's an MOU.