Exclusive with Nvidia CEO Huang and Synopsys CEO, December Playbook 12/1/25

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

Carl Quintanilla (0:51)

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at Post 9 of the New York Stock Exchange. Faber has the morning off. We are kicking off the month of December with some risk off. After Friday's Everything Rally, we got some Nvidia AI news, a read on Black Friday weekend holiday sales, Bitcoin back below 85k, tenure 407 Our roadmap begins with positioning into the final month of trading for the year. We'll talk about if a Santa Claus rally is in the cards. Another AI deal. Nvidia taking a $2 billion stake in chip design software provider Synopsys.

We have an exclusive with Jensen Huang and the CEO of Synopsys. And the president says he's made his choice on who he wants to lead the Federal Reserve after Jay Powell. Let's begin with the markets, though, kicking off December after a volatile November for stocks. Nasdaq snaps a seven-month win streak in the wake of AI valuation jitters. Meantime S&P, seven consecutive monthly gains. Same goes for the Dow. That's the longest such streak since 2018 And we've had a few of those streaks, Jim, since 2009 Most of them end after seven months.

Jim Cramer (1:54)

Right. Well, look, I think obviously people feel that last week was a bit of an aberration, that we were looking ugly and somehow pulled the... Look, did we pull something out of the far? I don't know. It's very hard to move stocks. The move Friday may have seemed not real. And I've seen that happen a lot of times. People say it's not real.

Look, I question whether this went down. Is that real? We have Bitcoin being the leader in our market. Well, I don't know. We put up the company strategy. We put up the price constantly. That's the Achilles heel of that market.

Carl Quintanilla (2:29)

It's got news today, which we'll get to.

Jim Cramer (2:31)

Look, and it's also easy to say that Yen-Carry trade. Now, a lot of people, I saw our friend, Will Frost chatting about that on X. And I come back and I say, look, I'm not saying either one is important. I will say this. I think that the president's announcement that he has picked a Fed chief makes you realize that the December meeting is not in play. Doesn't it? The raise, not raise, not cut, not cut. Doesn't it? Right. You know, man, I say raise only because, geez, when you look at Atlanta, some people feel like they're running hot.

Carl Quintanilla (3:06)

Yeah, Atlanta Fed, 4%.

Jim Cramer (3:08)

Yeah, and if you didn't have a Fed chief that is on the way out, so to speak, I mean, someone might just say, you know what, we've done too much. So I think that there's a lot of things in the line, but the one thing it's not is the Fed, and the Fed's the most important thing I've heard about.

Carl Quintanilla (3:23)

We're gonna get, I mean, as far as December catalysts go, Fed chair, maybe, SCOTUS on tariffs, Broadcom, Marvell, Oracle earnings, those are like, that's the things we have left to look forward to.

Jim Cramer (3:36)

Marvell's coming up, and Marvell, by the way, just remember, they have a very close relationship with Amazon, and Amazon is perceived to be one of these companies, who knows what they're going to do, who are they going to partner with. Our interview with Jensen Huang is going to maybe put things in perspective, that the idea that if Marvell is partnering with Amazon, and we know that maybe Metta is partnering with Alphabet to be able to license a Google chip that's made by Broadcom, then we know that it's just become internecine. And what we really need to figure out is, are we looking at the right spot? I think that today's interview, which is going to be a seminal interview, but doesn't seem like it, is about the other kinds of AI. And are we just constrained by business to consumer, chatbot AI, and all we care about is Gemini 3, game set match, winner take all, overspend, or is the spend should be, think about it, maybe spread over $40 trillion worth and we're just seeing one point.