Carl Quintanilla, Jim Cramer, and David Faber started the hour by breaking down this morning’s inflation print, with CPI rising 0.1% in July and the annual inflation rate coming in at 3.4%. The desk then brought in CoreWeave CEO Mike Intrator to discuss his company’s strong Q2 results, which sent the stock surging by double digits at the open. Also in AI, SpaceX CEO Elon Musk outlined how AI revenue within the company will exceed all other sources of revenue before year-end.<br><br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9AM Hour: CoreWeave CEO Mike Intrator, July CPI Report, SpaceX’s AI Outlook 8/12/26

Squawk on the Street

[SPEAKER_06] Market Moving Insight and Analysis join Jim Cramer, David Faber and me, Carl Quintanilla on the opening bell hour of CNBC's Squawk on the Street. 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. Plenty of food for the bulls this morning. Solid reports out of CoreWeave, Nebius, Supermicro and then July CPI comes in solidly in line, 2-5 on Core. Goldman says that does support a Fed hold in September. Brent's holding 88 as this attack by the Hoos.

[SPEAKER_06] The North East on the Red Sea tanker kills six. An Iranian source tells Reuters there are no talks right now to extend any ceasefire. A roadmap begins with the inflation trade, what CPI means for the Fed's rate path. Collin says she's still open to a hike.

[SPEAKER_07] Plus, CoreWeave shares are surging this morning, just ahead of the open after reporting its fifth consecutive quarter of record revenue boosted by AI infrastructure demand. Company CEO Michael Intrader is going to join us first on CNBC right here at Post 9 in a few minutes. And forget rockets, hear what Elon Musk told SpaceX employees will soon be the biggest driver of its revenue.

[SPEAKER_06] Let's get right to this morning's inflation data. Important numbers out of CPI for July. Jim, 2-5, we said, on Core, a tenth on a monthly headline. I guess it's a familiar sound. Gasoline up 24 year on year.

[SPEAKER_02] Yeah. Look, I think it's meat, poultry, fish, eggs. It decreased approximately 0.7%. You know, last night I had the Cisco CEO, Kevin Hurkin. He said that the local restaurants are booming because they're passing on these price decreases, not the national guys.

9AM Hour: CoreWeave CEO Mike Intrator, July CPI Report, SpaceX’s AI Outlook 8/12/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

9AM Hour: CoreWeave CEO Mike Intrator, July CPI Report, SpaceX’s AI Outlook 8/12/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.