Nvidia Invests $5B In Intel, Fed’s Path Forward, Live: FCC’s Brendan Carr On Jimmy Kimmel’s Suspension 9/18/25

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David Faber (1:01)

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

Carl Quintanilla (1:06)

Good Thursday 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. Stocks looked to add incrementally to these recent highs following the Fed's rate cut 10 year back near 4.1. Jobless claims did retreat from last week's near four year highs. Our roadmap begins with this big move in semis today. Intel surging as Nvidia invests $5 billion in the chip maker. We'll talk about what it means for both of them.

David Faber (1:31)

Plus the Fed is making its first rate cut in nine months and signaling that more cuts are to come, what that means for the markets from here. And Disney's ABC Network, Yanks, Jimmy Kimmel live off the air indefinitely. This after his remarks about Charlie Kirk, FCC Chair Brendan Carr will join us this hour. We will talk about that.

Carl Quintanilla (1:54)

Let's begin with Nvidia and Intel. Nvidia announcing it will invest $5 billion in Intel as part of a deal to co-develop data center and PC products. In the release this morning, Nvidia's Jensen Wong said, quote, this historic collaboration tightly couples Nvidia's AI and accelerated computing stack with Intel's CPUs and the vast x86 ecosystem, a fusion of two world-class platforms. Together we will expand our ecosystems and lay the foundation for the next era of computing. Doesn't include a deal, Jim, for Intel to make Nvidia's high-end chips, but this will be one of the best days price action-wise Intel's ever had.

Jim Cramer (2:32)

I've always felt that when, with each hand, one that the semiconductor man of the year, Robert Noyce in 2022, and one of the introducers was Jensen Wong, that there would be some sort of partnership here. I did not know it would be this fabulous. The reason why this is so great is, if you can imagine, Nvidia gets PCs, Nvidia gets consumer. They don't have consumer. Intel is already in with the CPU. Now, Nvidia will be using their CPU. It's easy to see how AMD could be dislodged. It's easy to see how ARM can be dislodged. Remember, the CEO of ARM used to be at Nvidia. David, this is a remarkable thing for both. It takes off Intel, any possibility that it's going to be an existential crisis. This needed to be seen. It needed a lot of money. It had the government. It had SoftBank. Now it has Nvidia. I'm not worried at all about Intel, national treasure, but man, Nvidia did fantastic.

David Faber (3:29)

Yeah, well, I think you said a couple of the more important things there. They're a national champion, which does seem to be what is being created here. Obviously, Intel is still a tiny company, market capitalized in terms of, compared to Nvidia. And $5 billion for Nvidia is nothing.

But let's admit that, of course, they could find that in the couch cushions, wherever, in the corporate offices. But that said, the $2 billion that came in from SoftBank, which kind of started with SoftBank, at $23 a share, by the way. This $5 billion is also right there, right? $23, $28 a share is where Nvidia is buying this stake. And then, of course, the money from the government, which was forthcoming, regardless, but then came in in the form of an equity investment, essentially. But they've raised, what, $20 billion almost.

Jim Cramer (4:16)

Yes, and I think that when you looked at their balance sheet, the biggest worry, when I spoke to Lippooga, I was very concerned. This balance sheet is trouble. What I didn't realize was just how loved this man is.

He is revered in the semi-gutsy world. By the way, when everyone was investing in enterprise software, he chose to invest in semis. Turned around cadence, 50-bagger. And Carl, I think what this does is cement Nvidia as being the company that has basically a soup to nuts offering. You go all the way from the PC to the highest end. There had always been an issue about whether Nvidia was ever gonna get into the PC market. It's fantastic. So, we were all talking about Nvidia in China yesterday. Now we should be talking about Nvidia as being the colossus. They did try to buy Arm at one time. This is better.