Carl Quintanilla, Jim Cramer and David Faber drilled down on SpaceX&#x27;s first quarterly report since going public. Shares of Elon Musk&#x27;s company tumbled as a surge in AI spending overshadowed a Q2 beat. The anchors reacted to Musk outlining his trillion-dollar revenue forecast for SpaceX and saying the company will &quot;exclusively&quot; use Nvidia AI chips. The Nvidia news helped to send AMD shares sharply lower despite that company&#x27;s better-than-expected quarterly results. Hear how AMD CEO Lisa Su reacted to it all in an exclusive interview. Also in focus: The Dow and S&amp;P 500 hit new all-time intraday highs; Eli Lilly and Disney jump on earnings beats; &quot;Faber Report&quot; on the Paramount-Warner Bros. Discovery antitrust trial set for March 2027. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9am Hour: SpaceX Tumbles, AMD CEO Exclusive, Dow and S&P 500 Extend Record Run 8/5/26

Squawk on the Street

[SPEAKER_08] 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.

[SPEAKER_02] Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, a Post 9 of the New York Stock Exchange. Pre-market with some stability today after the S&P's best day since April 8th. Bulls trying to hang on to some record highs, although the earnings picture's mixed. Lilly crushes it, but revenue misses at Disney and Uber. Oil steady, no deal with Iran yet. Gold's up 100 bucks several days.

[SPEAKER_02] Our best day in several months. Our roadmap begins with SpaceX, though, down sharply after the first earnings as a public company. We will break down the numbers.

[SPEAKER_09] We got a different story for Eli Lilly and Disney. Both shares rising after those companies did beat the estimates for earnings. And in a few moments from now, we're going to speak exclusively with the chair and CEO of AMD. That lady right there, of course, Lisa Su. The shares are under pressure despite quarterly results that were ahead of what many of the analysts had been expecting.

[SPEAKER_02] Let's begin with SpaceX today. Shares taking a hit despite that Q2 beat. Companies' AI spending surge overshadows this 92% jump in quarterly revenue from a year ago. Here's Elon Musk outlining some of the lofty sales projections on the call.

[SPEAKER_01] We are expecting to reach $100 billion plus ARR in December of this year. And it's probably also worth mentioning that our internal projections for reaching a trillion dollars in revenue, not ARR, but revenue, have moved up from 2031 to 2030.

9am Hour: SpaceX Tumbles, AMD CEO Exclusive, Dow and S&P 500 Extend Record Run 8/5/26

Read the full transcript

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

9am Hour: SpaceX Tumbles, AMD CEO Exclusive, Dow and S&P 500 Extend Record Run 8/5/26

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.