CNBC reports that OpenAI has not begun &quot;testing- waters&quot; meetings with investors ahead of a potential IPO, despite growing speculation around the company&#x27;s next move. Then a look at the next major catalyst for SpaceX since going public two weeks ago. And the CEO of AI infrastructure company and Nvidia partner Coherent, on the AI infrastructure buildout and the demand driving the next wave of investment.<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.

10AM Hour: OpenAI’s IPO Timeline, SpaceX’s Next Catalyst, CEO of AI Infrastructure Company Coherent 6/26/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (None)
- **Jim Anderson** (Coherent)

## Transcript

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[SPEAKER_15] Good Friday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Leslie Picker, David Faber, live at Post 9 of the New York Stock Exchange. Sarah Eisen's off today. Ahead this hour, as this tech sell-off intensifies, we'll talk to longtime market expert Ed Yardeni about how much more pain might be coming. SpaceX marking two weeks as a public company sitting right around its first trade price. And the next big catalyst for the stock could be just days away. We'll talk about it. And with more questions swirling about the AI build out, we'll talk to the CEO of AI Picks and Shovels,

[SPEAKER_15] company Coherent, an NVIDIA partner whose shares have doubled so far this year.

[SPEAKER_09] But first, consumer sentiment data just crossing the tape. Rick Santelli has that for us. Good morning, Rick.

[SPEAKER_03] Indeed, these are the final reads on University of Michigan sentiment, which means the mid-month reads get tossed. So 48.9 becomes 49.5. The problem is, of course, it's still below 50.

[SPEAKER_03] We're expecting a number right around 50. If you look at the current conditions, 48.4 deteriorates to 47.7. And if you look at what lies ahead, expectations, it's the only bright spot. 49.3, mid-month read, comes up to 50.7.

[SPEAKER_03] And that would put it back to a comp of March the last time it was 50 or higher. And do remember, all three of those indices in the month of April, excuse me, in the month of May, made lows going back to the 1970s. Now, let's look at the inflation gauges embedded in these reports. We're expecting 4.6. That was our mid-month read. It remains there on the one-year inflation.

[SPEAKER_03] And how does that compare? Well, 4.6 is less than the last two previous months, which were 4.8 and 4.7, respectively. So it comps to 3.8 in March. If we look at the 5- to 10-year inflation, it moved lower. 3.4 mid-month now becomes 3.3. That was expected. 3.3 would be the lightest si...

10AM Hour: OpenAI’s IPO Timeline, SpaceX’s Next Catalyst, CEO of AI Infrastructure Company Coherent 6/26/26

Transcript

Built for investment professionals

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

10AM Hour: OpenAI’s IPO Timeline, SpaceX’s Next Catalyst, CEO of AI Infrastructure Company Coherent 6/26/26

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.