AI Trade's Wild Ride, CoreWeave CEO "First on CNBC," SoftBank Sells Nvidia Stake 11/11/25

Carl Quintanilla (0:00)

Introducing Fidelity Trader Plus. With customizable tools and charts, you can access across all your devices. Try our most powerful trading platform yet at fidelity.com/traderplus.

SPEAKER_2 (0:10)

Investing involves risk, including risk of loss. Fidelity Broker Services, LLC. Member NYSE, SIPC.

SPEAKER_3 (0:15)

Think of your commute, your train, your car, maybe your walk. Even if you don't realize it, crypto and blockchain innovations are all around you on your way into the office. So why not learn about them on the way? From institutional custody solutions to 24-7 cross-border payments with nearly real-time settlements, crypto and blockchain are shaping flexibility and innovation for institutions all over the globe and your city. Join Ripple and host David Schwartz for crypto and blockchain conversations on Blockstars, the podcast. It's happening with Ripple.

Jim Cramer (0:45)

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.

David Faber (0:53)

Tuesday morning, welcome to Squawk on the Street. I'm Carl Quintanilla, Jim Cramer, David Faber, Post 9, New York Stock Exchange. Bull's trying to extend some of Monday's bounds, but running into some headwinds in tech. As SoftBank exits that Nvidia stake, CoreWeave guides below. Senate did pass the CR, and we'll see if the House does the same, likely tomorrow. Bond markets close for Veterans Day. Our roadmap begins with the AI trade. Shares a CoreWeave falling sharply despite more than doubling revenue. JPM downgrades adds to the pressure. Michael Intrator is going to join us first on CNBC this hour.

Carl Quintanilla (1:24)

Plus, Tesla's Troubles 1 analyst sees steep weakness in deliveries and reports that China sales are falling to a three-year low. Tesla's Chair, though, promising the coming of quote, the largest value creation event in the company's history. Paramount's got its first earnings report since they closed the Skydance deal. David Ellison targeting 30 billion in revenue next year and expects another billion in merger savings.

Jim Cramer (1:51)

We'll go through that.

David Faber (1:53)

Let's begin, though, with this busy morning for the AI trade, including this weakness in the CoreWeave shares, Jim. As revenue misses again, a lot of third-party delays.

Jim Cramer (2:02)

We're going to have to find out exactly what happened. But I have the feeling that it's not CoreWeave. I also want to say that it's probably not demand, although there are numbers flying around about how much has to be built. And it's beginning to, I think, nauseate people, because we just kind of feel that can everyone be building this much and how much you have to spend, David, in order to keep up. But I am going to, I'm prepared, I'm not sure where you are on this with Mr. Intrator, to try to explain this thing in a way that's actually positive.

Carl Quintanilla (2:35)

Okay, meaning what? You're going to do it and then when we have the interview with him, you're also going to let him do it?

Jim Cramer (2:41)

I'm actually, we're not on right now, so I'm trying to figure out whether you should do it or I should do it. Or do you want to do it together?

Carl Quintanilla (2:46)

Well, I think we all do it together, right? We're a team.

Jim Cramer (2:49)

Shoot, it's 902

David Faber (2:51)

You're Mike's hot.

Jim Cramer (2:51)

Okay, Mike is hot. My Mike is hot. I like that. Send the bombers. I do think that this is a very controversial story because I think Intrator is a real builder.

Carl Quintanilla (3:04)

I know, you're a big believer.

Jim Cramer (3:06)

Well, that's because Jensen Wong, at the same time they have let others do work with them who may not be as good as they are and have actually made, I'd say, let's say they puffed how well they're doing because that's the term of artists we know. And I think we have to figure out whether the problem is them or the stars.

Carl Quintanilla (3:27)

You're referring to this powered shell, which is a pre-built fully powered secure building design.

Jim Cramer (3:33)

I'm talking about Core, I'm talking about CORZ.

Carl Quintanilla (3:36)

That they didn't get as quickly.

Jim Cramer (3:38)

Well, I'm talking about Core Scientific, okay? That's what I'm talking about.

Carl Quintanilla (3:41)

Why?

Jim Cramer (3:41)

Because I think Core Scientific screwed them.

Carl Quintanilla (3:43)

Oh, you think it was them that was supposed to build this thing. I think they screwed up. Do we know that for a fact?

Jim Cramer (3:48)

No, we're going to find out because I've been working all night on this thing. After the Eagles was over, I went into this thing again.