Hugging Face Hack, SK Hynix, & Senior Scams 7/29/26

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**SPEAKER_3** (0:58)
Bring in show music, please.

**Katie Kramer** (1:02)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, AI here, there, and everywhere.

**Joe Kernen** (1:09)
You're making this difficult for me, Claude, and I'm not going to pay you because I listened to what Alex Karp said. You're not getting any of my money.

**Katie Kramer** (1:16)
The technology taking over American business, the markets, and the op-ed pages. Can we agree on one set of rules and keep our data safe?

**Becky Quick** (1:25)
Face-hugging and that they had actually contacted the FBI.

**Joe Kernen** (1:28)
Hugging Face.

**Becky Quick** (1:29)
Or Hugging Face, sorry.

**Joe Kernen** (1:30)
You don't want to mess with Hugging Face.

**Katie Kramer** (1:31)
AI and robotics investor Steve Jang on the debate about artificial intelligence innovation being open to all.

**Steve Jang** (1:38)
Open source models offer that diversity, offer that power and control to the end user, to a company to be able to protect themselves.

**Katie Kramer** (1:47)
Scamming seniors is on the rise. The Senate's bipartisan Aging Committee is working to boost transparency for those being targeted. Florida Republican Senator Rick Scott.

**Rick Scott** (1:56)
I mean, every day I get, my wife gets phone calls often to lend us money and it's all just AI trying to steal our money.

**Katie Kramer** (2:03)
And New York Democrat Senator Kirsten Gillibrand.

**Kirsten Gillibrand** (2:06)
A lot of the legislation that Senator Scott and I are working on would provide more tools to our seniors, would allow the FBI to coordinate with local law enforcement to make sure our seniors are aware of what the latest scam is.

**Katie Kramer** (2:21)
It is Wednesday, July 29th. Squawk Pod begins right now.

**SPEAKER_3** (2:25)
Stand Becky by in three, two, one, cue please.

**Becky Quick** (2:31)
Good morning, everybody. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ Market Site in Times Square. I'm Becky Quick along with Joe Kernen. Andrew is out today. The NASDAQ was down yesterday for the fifth session in the row and Joe, if you've been looking at the major averages, the Dow at this point is only about 1% from its all time high.
You've got the S&P 500 that's 2.5% from the all time high. I think the NASDAQ composite is about 8.5% from the all time high. But if you're looking at the bigger they are, the harder they fall, the NASDAQ 100 is down by close to 10% right now.

**Joe Kernen** (3:03)
Although yesterday it came back a long way.

**Becky Quick** (3:06)
It did.

**Joe Kernen** (3:07)
From what we were talking about early in the morning.
Today I saw, well, you're going to talk about it in a second after I talk about Iran and energy and all this other stuff. But today, I thought the KOSPI and Hynix and SK Hynix, I thought the NASDAQ would be off sharply.

**Becky Quick** (3:23)
I did too. That was my expectation walking in because if you looked at the Korea KOSPI, it was down, limit down for two days in a row. They've had to put circuit brokers on for two days in a row, which I think has never had to happen to the point where you have some of the Japanese authorities who are apologizing for allowing single stock ETFs into the marketplace there. I think that's a big reason for the volatility and apologizing for that volatility.

**Joe Kernen** (3:49)
There's a lot of, you just can't look at the headline and decide, because if you look at SK Hynix's results...

**Becky Quick** (3:56)
I completely anticipated the same thing. And SK Hynix's results were the best ever.