Nvidia's Record High, Jensen Huang and the Trump-Xi Summit, Cisco CEO Exclusive 5/14/26

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Jim Cramer (1:00)

It's Jim Cramer here. You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action.

Carl Quintanilla (1:07)

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer here at Post 9 of the New York Stock Exchange. Fabers on assignment. Some fresh all-time highs for the S&P are in focus as Cisco's blowout quarter adds some fuel to the AI build out craze. Dow is going to take aim at 50K once again, 30 year holding five. Oil is fairly steady, down slightly as Iran's just one of many topics that the US and China discussed during two hours of talks in Beijing and the state banquet. A roadmap begins with Nvidia shares hitting an all-time high as Jensen Huang says China meetings have been quote excellent. Could Trump's China summit mean big things for Boeing and Tesla and others? President Xi telling US CEOs that China will quote open wider.

As for Cisco, rallying sharply on this Q3 beat, and some of these AI-fueled job cuts, we're going to break down the quarter with Chuck Robbins in just a few moments.

Let's begin with Nvidia hitting a record high in the wake of the summit in China. Here's an exchange between Jensen Huang and reporters in China earlier today.

SPEAKER_5 (2:09)

How are your meetings going?

SPEAKER_6 (2:11)

Did these work excellent?

Eamon Javers (2:13)

Are you hoping to be able to sell your chips here?

SPEAKER_8 (2:15)

Will you be able to sell your chips?

Chuck Robbins (2:16)

Yeah, President Trump, we're in quite a moment.

SPEAKER_6 (2:18)

Thanks, Jim.

Carl Quintanilla (2:21)

That's brief, Jim. Wires have been trying to make some news on whether or not the US is clearing some H-200s.

Jim Cramer (2:27)

Okay, so there's nothing new here. The US is in favor of selling. It's she who has blocked it. It's not a little bit sub rosa, but no one's ordered any chips. I think what people have to understand, you actually think they're doing a lot of business with China. They're not. There's like $53 billion with a business that may or may not go his way. It was great that he got picked up in Alaska. I think it's really important for our country.

The big debate is, would it be better to have control of everyone worldwide using Nvidia? Or if you let China not have it, they'll just fund all these other companies that are therefore in a space race against us.

Carl Quintanilla (3:03)

We know where Jensen stands on that.

Jim Cramer (3:05)

Well, Jensen, he just, listen, if you're a patriotic, you don't want to make it so that everybody writes on our chips and make us all powerful. I agree with him for what that's worth, but I'm an acolyte. I do think that people should recognize that they, that of all the things that the Chinese want, it is Jensen's chips because they don't have a, now when you hear Taiwan, I never like to hear Taiwan mentioned within the same context because Jensen's a designer of chips and everything's made in Taiwan.

Carl Quintanilla (3:38)

And Jensen is a native born Taiwanese.

Jim Cramer (3:41)

Oh, my God.

Carl Quintanilla (3:41)

Yeah.

Jim Cramer (3:41)

And look, it's, there's always these stories about whether we're winning or losing against China. And they have, the way that they're winning right now is that they have, if they are winning at all, is that they can put up a nuclear power plant very quickly. And we're stymied because of all the regulation. But we're winning on the intellectual property. And people have to recognize that's what's at stake. The IP and the intellectual property, whether it be from land research or whether it be from ASML, which is not American, that we kind of control applied materials.