Nvidia Hits $5T Valuation, Boeing and Adobe CEOs, Fed Decision Day 10/29/25

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Jim Cramer (1:00)

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 (1:14)

Good Wednesday morning, welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. This streak of all time high is gonna get supported today by Nvidia, set to open with a $5 trillion market cap, even as some companies not exposed to AI miss or cut guidance in restaurants, hospitality, housing and retail. Fed decision at two o'clock. RoMap begins with another major milestone for Nvidia, shares higher in the pre-market, taking that chip giant's market cap to the cusp of $5 trillion for the first time.

David Faber (1:43)

Plus the Fed front and center decision on interest rates and Chair Powell's news conference that will be later today. And Boeing, it goes cash flow positive. It's the first time in two years that has achieved that state. But it also takes a massive hit on delays to the 777X. CEO Kelly Ortberg will join us exclusively in this hour.

Carl Quintanilla (2:05)

Let's begin with Nvidia poised to hit that $5 trillion market cap at the open. The number to watch is 20576

Shares rising a day after Jensen Wong said Nvidia expects 500 billion in AI chip orders. Also offered praise for the president. We're talking to our Christina Parts-Nevalos yesterday on Power Lunch. Take a listen.

Jensen Huang (2:25)

We're making America great again. I think all of his policies relating to energy and manufacturing and all of his enthusiasm behind artificial intelligence and making sure that that American AI technology is the standard of the world, that is diffused maximally and making sure that the rest of the world has the benefit of American technology so they can build on top of it. All of that is fantastic.

Carl Quintanilla (2:53)

B of A today, Jim, takes a look at what consensus for 26 was back when chat first emerged in 22 80 cents, now it's 10 bucks.

Jim Cramer (3:01)

Yeah, I mean, that's what happens when you have a stock that looks like a very high price series, multiple and isn't, you do have to have a suspension of belief because this man has pulled off something rather remarkable. If you look at all the different companies that we're speaking at GTC, you'll see that he's integral to almost every single industry. I want to be sure, the number that he actually gave, the 500 billion in orders, that actually may be a bit of an overstatement about what he might have meant to say because I think that you were looking for something that's more about 100 billion dollars lower. In other words, it was a little bit, it's not hyperbole, but I think that I just want to walk it back a little, David, because you know, like if you look at Ben Rice's piece, Familius, you will see that piece right there.

David Faber (3:48)

Yes, no, I know, I've read them all.

Jim Cramer (3:50)

Well, you know that that's, I think that's a good piece in terms of what the real number is.

David Faber (3:54)

Yes, I mean, the reason why the stock is going to be up again, though, is because of the soft guidance that he gave. And your point, I think, is the important one. People hear that half a trillion dollar number, Morgan Stanley, for example, saying the number one most asked question was the meaning of the 500 billion of cumulative Blackwell-Rubin revenue from 2025, which would be 20 million Blackwell-Rubin dive, which 30 percent has already shipped. And I think that's the key. So to the point Jim just made, it's still a huge number. And that's how Ben Reitz gets to what I think is what, 340 billion that haven't, you know, and then you've got Bernstein also, Stacey Raskin, talking a soft guide of at least 300 billion plus in data center revenue next year.