Carl Quintanilla, Jim Cramer and David Faber led off the show with the first CPI report reflecting the spike in oil and gasoline prices due to the Iran war: Consumer inflation rose in March by 3.3% year-on-year, the biggest increase in two years. On the AI front: CNBC confirmed that Treasury Secretary Scott Bessent and Fed Chair Jerome Powell convened a meeting with bank CEOs earlier this week, to discuss cyber risks raised by Anthropic&#x27;s new Mythos AI Model. CoreWeave CEO Mike Intrator joined the program to talk about the company&#x27;s latest AI deals: One with Anthropic, the other with Meta. Also in focus: A week to forget for software stocks, Taiwan Semi&#x27;s revenue surge, Intel extends rally on Melius&#x27; price target hike, Nike downgraded.<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.

War Impact on Inflation, Bessent and Powell Meeting With Bank CEOs About AI Risks, CoreWeave CEO "First on CNBC" 4/10/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (CNBC)
- **Jim Cramer** (CNBC)
- **David Faber** (CNBC)
- **Mike Intrator** (CoreWeave)

## Transcript

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It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action. Good Friday 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. Stocks going for an eighth straight gain in a row and the first back-to-back gains of the year weekly as we await the first in-person talks with Iran and Islamabad this weekend.

S&P's back to flat on the year for a total return basis. Oil pretty steady around 98. Energy costs did take headline CPI to 3.3 in March, hottest in a couple of years, but not much bleed into the core. Year-on-year up 2.6. We'll get you, Mish, in an hour. Our roadmap begins with the S&P riding the longest win streak since October as negotiators meet for talks this weekend in Pakistan.

First-trace Secretary Bessett and Fed Chair Powell meeting with bank CEOs earlier this week to discuss the rising risks. Wow, this is not going to work today, is it? I don't think so. Following Anthropic's latest AI model. Speaking of Anthropik, the CEO of CoreWeave will join us. It's the first on CNBC. He's announcing a new multi-year deal with Anthropic. That's the day after they expanded that IR partnership, AI partnership with Meta. Well, we'll see whether I make it through the show here with his voice. Sorry, guys.

You sound pretty good. I think we'll be all right. Let's begin with some market reaction to CPI today, Jim. Obviously, we were bracing for a move in headline. Energy up 10.9. It's about a third of the overall increase. You know, look, I know that almost everything's political these days, and I don't want it to be, but when you look at the fine print, apparels up. We had Levi Strauss the other day, Michelle Goss. I mean, they had tariffs. Household furnishings really hit badly by tariffs.

Education is weird. New vehicles. Tariffs. So, I mean, this is a self-inflicted, not-so-great CPI that could have been great. And I look at this, and I just say, you know what? These things were going down in price rather dramatically. We had tremendous pressure on apparel. Tremendous. We have a Nike downgrade. It's really part of it. Yeah. Household furnishings, even RH was having to, you know, under some pressure. So, this is what happens with the exception of education, which should come down because it's so ex...

War Impact on Inflation, Bessent and Powell Meeting With Bank CEOs About AI Risks, CoreWeave CEO "First on CNBC" 4/10/26

Transcript

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Every day you wait, your competitors are finding
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War Impact on Inflation, Bessent and Powell Meeting With Bank CEOs About AI Risks, CoreWeave CEO "First on CNBC" 4/10/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.