Stocks' AI-Fueled Run-Up, OpenAI-Microsoft Partnership Revamp, "Musk vs. Altman" Heads to Trial 4/27/26

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Market moving insight and analysis. Join Jim Cramer, David Faber, and me, Carl Quintanilla on the opening bell hour of CNBC Squawk on the Street.

David Faber (1:06)

Good Monday morning. Welcome to Squawk on the Street. I'm David Faber. He is Jim Cramer, and we are live from Postline at the New York Stock Exchange. Happy Monday morning, everybody. Carl has this morning off. We're going to get started, of course, trading for the week about a half hour from now. You can see we're looking for a slightly lower.

It looks what?

Jim Cramer (1:25)

It's fine.

David Faber (1:26)

It's fine.

Jim Cramer (1:27)

It's the same stocks going up every morning.

David Faber (1:29)

It's the same stocks going up. And we're going to get to that because our roadmap this morning does begin with AI and it's boost to stocks to new highs. Nvidia, by the way, above $5 trillion now in market cap. That is another record close. It has Intel's coming up. It was its best day since 1987 And Qualcomm also up on reports from an analyst about a new deal potentially involving OpenAI. By the way, speaking of OpenAI, Elon Musk and Sam Altman are set to face off. It's a high stakes trial on the West Coast. This, of course, over OpenAI and its founding mission and Musk's opposition to what he says was unjust enrichment. We will go live to that courthouse.

Speaking of AI again, Related Digital secures $16 billion. This will be to finance Oracle's Michigan Data Center for, who else? OpenAI. We're going to speak with Related Digital's Chairman Jeff Blau. He's going to join us right here on set, Jim.

Jim Cramer (2:31)

Wow, that's cool. That's good.

David Faber (2:32)

Yeah, about the new project. But let's start with the markets. There's Jeff, and let's turn to Mr. Cramer, and just get your sense here in terms of how we're thinking about things after what's been a historic run in certainly the semis, 18 straight days.

Jim Cramer (2:48)

They're sapping this market of cash. Every single available new dollar seems to go into this group. So you'll see things like healthcare. Just every day they go down, you say, what's the matter with health? What's the matter with Merck? Nothing. The money keeps going to the data center.

It is one of the things that there will be a lot of, let's say, great periods, official, you know, people who come on Stentorian on our network and say this can't last. And I come back and say, so what ends it?

Supply has to end it. Either supply of stocks that are being involved or supply of, say, more matter for Sandisk or Western Ditch and there's a shortage, Western Ditch, Micron, Sandisk. So what happens, David, is the prices keep going up.

David Faber (3:36)

Now, look at that. Let's just stop for one moment.

Jim Cramer (3:38)

Sure, but hey, it's all yours.

David Faber (3:39)

Just gape at that move. That's a month to date move in a large index. I mean, granted, it includes some massively market cap companies.

Jim Cramer (3:53)

Right.

David Faber (3:53)

But nonetheless, 40-plus percent for a month. Jim, do you remember anything like that in your career?

Kate Rooney (3:58)

No.

Jim Cramer (3:59)

I mean, there was this period where Intel started pulling away from everybody else, and they had a bit of a run, but not the group. The group's made up of a lot of commodity and proprietary, and both are moving up, and they're moving up and up and up. Now, another way, a negative way we look at it is they're going up on the same earnings per share. But David, they're not. The earnings per share keep increasing. So the multiple is actually not keeping pace.

That's why I think right now, if you say you should buy them today, I don't know. I don't like it when I come in.