Oracle Skyrockets, "Squawk Box" Trip Down Memory Lane, Robinhood CEO "First on CNBC" 9/10/25

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David Faber (0:46)

I'm David Faber. Join me, Carl Quintanilla and Jim Cramer for the opening bell hour of CNBC Squawk on the Street, the podcast. Subscribe for free wherever you listen, and you can always catch us live weekdays at 9 a.m. Eastern on CNBC.

Carl Quintanilla (1:01)

It is a big week for Squawk Box and a big day here at the New York Stock Exchange today too. Buy now, pay later from Klarna going public with one of this year's biggest IPOs. But first, talk about shares of Oracle soaring in the pre-market thanks to this AI demand. Company says it expects booked revenue from its core cloud business to exceed half a trillion dollars, and that news overshadowed this quarterly miss. This is Safra Katz on the call last night.

Safra Katz (1:26)

We now expect Oracle Cloud Infrastructure will grow 77% to $18 billion this fiscal year, and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the following four years. Much of this revenue is already booked in our $455 billion RPO number, and we are off to a fantastic start this year.

Carl Quintanilla (2:03)

Morgan Stanley does today, Jim. I've been doing this a really long time, and I tell my whole team, pay attention to this, because this is a career event happening right now.

Jim Cramer (2:10)

I think it's true. This is a masterful conference call, and from a very large cap stock, and I have not seen a move overnight, in particular. We did have that main move a couple years ago with NVIDIA, but this is not like that. David, this is one where I'm on the conference call and I'm saying, no, no, not true. Not can't, can't be, can't be. Then, look, the most you can say is, look, it's entirely possible that some of it is one large customer that we know, right?

David Faber (2:38)

It is a number of customers, but certainly OpenAI is an important component of this and Stargate, but a lot of that has already been booked. But to your point, I had a conversation with a large technology investor this morning, he's been around for a long time, he simply said, I've never seen anything like it.

Jim Cramer (2:52)

Never.

David Faber (2:53)

Never seen anything like it. Was expecting, sure, what they call RPO to go from backlog, essentially, from about maybe 150 to 200, but to 450 plus billion dollars.

Jim Cramer (3:04)

Yeah.

David Faber (3:05)

And the analysts are following that same thing. I mean, in their near 20 years covering Oracle, says the Deutsche Bank analyst, for that matter, the entire software industry, there are a few quarterly results that match this in terms of magnitude of revision and clarity of the moment.

Jim Cramer (3:20)

And how about the fact that it comes at a moment, where I think there were a lot of shorts pressing Oracle because the last quarter was just only okay. But more importantly, there were a lot of people who were saying, hey, listen, the data center, that's over, let's move on, Mag-7 over, Elite 8 over, this was it. And then no, I mean, completely wrong, completely wrong. And I think this caught a lot of people looking the wrong way.

Carl Quintanilla (3:45)

If that's true, should other names be trading higher than they are?

Jim Cramer (3:49)

I think they should be, but it's not happening. I would have thought that Broadcom, which is in the mix, would be up more. Taiwan Semi, which is in the mix, would be up more. And of course, NVIDIA, because it's a NVIDIA shop. But NVIDIA is one of those stocks that has just gone so out of favor that literally there are people who are afraid to take it up. Now, we're going to be speaking to Vlad Tenev later today.

David, have you ever seen overnight buying like this, moving a large cap stock?

David Faber (4:17)

This is really, no, this is an extraordinary moment. It's funny to go back 30 years and then it takes me into, deeper into the.com moment, but we had certain days, certain things like that, and this is kind of one of them, not, you know, again, history rhymes. It doesn't necessarily repeat, as Twain said that, right? Yeah, I think so. But that's just similar to that, and of course, I mean, a move like this in a company that already had a plus, what, $600-plus billion market value coming in is truly shocking. We'll do the math later on what Larry Ellison's net worth is going to be, because you are talking about conceivably one of the largest increases in net worth the world has ever seen. He's probably approaching Musk in terms of world's wealthiest man, but that just goes to show there. But, you know, what about OpenAI? I mean, they seem to every, I don't know, are they just, they're spending so much money that it's supporting everything?