Wall Street Gears Up for Nvidia's Big Earnings Report 5/28/25

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David Faber (0:59)

Market Insight and Analysis. You're listening to the opening bell of CNBC's Squawk on the Street.

Carl Quintanilla (1:04)

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. Pre-market adding to some gains after the best day in more than two weeks. Big day for earnings with some retailers this morning. Of course, Nvidia Salesforce tonight. Yields are a bit higher after a soft 40-year auction in Japan. Weakest demand in almost a year. A roadmap begins with the countdown to Nvidia. The chip giant said to report after the bell. Investors squarely focused on the impact of these export restrictions in China.

David Faber (1:32)

President Trump is looking to take Freddie Mac and Fannie Mae back to the public markets. He does say the government would retain guarantees and an oversight role of both of those mortgage lenders. And a number of big retail names were out with earnings. What the guidance is saying about the impact of tariffs and the impact on the consumer.

Carl Quintanilla (1:52)

Let's begin with the markets gearing up for Nvidia tonight, followed by Jim's big interviews with CEO Jensen Wang. You got a very busy day today.

Jim Cramer (2:00)

Yeah, and this is fulcrum. The meanies are the people, enterprise software is Mark Benioff, semiconductors, but also some software is Jensen, politics is Jensen. We're going to cover China obviously, but remember, there's the rest of the world that apparently the president is really helping him get orders. We got to figure out whether David, this is all data center, which is way people want to contain the thinking and China shutdown, or whether there's something bigger going on here. What's the next generation ships are really going to make it so that the robots are real? What does video mean? If you can ingest, I thought it was very interesting. Joanna Stern from the journal talking about, everyone can make a movie. How much of that is?

David Faber (2:43)

I was talking about it yesterday with you guys. Do you remember V03? I mentioned it about 10 times because it freaked me out when I was watching all this stuff over the weekend.

Jim Cramer (2:55)

So my thesis is duplicative of what you said?

David Faber (2:58)

No, I'm just saying. That's all.

Jim Cramer (3:00)

All right.

David Faber (3:00)

Back to the uses of chips. Don't get sidetracked by my wise cracking. Back to the uses of chips.

Jim Cramer (3:07)

I won't. I just think that we have to think bigger than the biggest.

David Faber (3:09)

The robots is a long way away, Jim.

Jim Cramer (3:12)

That's the problem with your small-minded thinking.

David Faber (3:14)

It's not. When Elon Musk Sitstern says a million by 2030, we know that he is typically more aggressive.

Jim Cramer (3:20)

All right.

David Faber (3:20)

That's still quite a ways away. And that is an aggressive forecast. It is quite some time till they're going to be rolling off.

Jim Cramer (3:27)

Well, but there's...

David Faber (3:28)

Rolling off the assembly line, so to speak, and doing all sorts of autonomous tasks.

Jim Cramer (3:32)

But you have Omniverse, which is the biggest market that Jensen sees is the actual building of plant equipment, ships, giant this. Omniverse, that's his. And then Groot, and Groot... Yeah, Groot.

David Faber (3:47)

Okay, Groot, like the superhero.

Jim Cramer (3:49)

Yeah, Groot is a software-based program that allows you to do, okay, self-driving, full self-driving, and then ultimately, Optimus.