9am Hour: OpenAI Urges Caution, Qualcomm & Amazon Partnership, Novartis’ Drug Trial Setbacks 9/8/26

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Jim Cramer (0:57)

It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action.

Carl Quintanilla (1:05)

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer here at Post 9 of the New York Stock Exchange. David Faber is on assignment en route to Goldman's Communicopia Conference. Big lineup for the next couple of days.

We will kick off the fall season though with the pre-market red, the focus once again on rates. Ten-year pin near 4.8 and oil brent two bucks from 100, where it hasn't been since May 26th. Goldman does raise their price forecast today. Our roadmap begins with OpenAI though sounding the alarm around the speed of AI development. Novartis shares down sharply on some drug trial setbacks and that latest around the Amazon cargo jet crash in Miami as federal investigators examine the fallout there.

Let's begin though with this new warning from OpenAI. In a blog post over the weekend titled An Alien Mind, the company's chief scientist urges caution around the pace of AI development saying this is a time that calls for extreme caution. I'm concerned no one is prepared for the consequences of a continued rapid rise in machine intelligence. This is, we're watching some positive moves from AI beneficiaries like Intel, a five pre-market leading the NDX gym. What'd you make of this chief scientist comments and then Bill Gates at Telluride saying we're essentially in a HAL 2001 kind of moment?

Jim Cramer (2:23)

Look, I think that we have to be careful. I know that they're guardrails. I would say that I find it somewhat ironic as we're playing with ChatGPT with Astra, the new one, and doing remarkable things and drawing pictures and doing charts and stuff. I have to tell you that if anyone's going to be the people who are in charge of our lives, it's going to be OpenAI because this product is so powerful and so exciting. I guess I'm still, I have to be careful because I am in the excitement moment.

I have been talking to a lot of the hyperscalers about how to get the data centers to have a code of conduct to see whether there's some level where they couldn't start demonstrating some sort of responsibility. But look, I understand them. I have George Kurtz on. I know that David's going to have George Kurtz on. You have to have guardrails and you have to have the agents be dependent upon you. I guess right now that the hugging face was so raw that people just say you can't trust them. They're going to be smarter than you.

Carl Quintanilla (3:25)

We do have Jensen congratulating OpenAI on what he... I guess we're at AGI is essentially his take.

Jim Cramer (3:32)

Right. I just say that this is... Again, I want to point out I am the joyous part. I'm not at the... I'm looking at the next industrial revolution. I think it's entirely possible that you might have felt that some of these other industrial evolutions with the computer, that they had gotten ahead of us.

But I'm not willing to say we should... we should slow things down. I just don't see it.

Carl Quintanilla (3:53)

Do you feel like you know OpenAI and Sam Altman well enough at this point to bestow on them this kind of responsibility?

Jim Cramer (4:02)

No, I don't. And that's a really good question. And again, I'm going to say that where I am in this, because I'm not... I'm in wonderment, okay? I'm not deep enough in it. So I would be probably one of the people who would be fooled by it and think that it may be a real person and not some sort of illusion. So I don't want to say I'm the one person to ask this. My job is to look at these things. But I do have faith in Nikesh Arora at Palo Alto. And I do have faith in George Kirch.