Omega Family Office Chairman and CEO Leon Cooperman joins Squawk on the Street to discuss where he sees value with stocks near record highs—and whether the AI trade is becoming a bubble. Plus, a talent exodus at OpenAI raises fresh questions ahead of a potential IPO as new reports shed light on the company’s financials. And memory stocks rebound, helped by a rally in SanDisk. The CEO laying out the company’s strategy to CNBC.<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: Wall St. Legend Leon Cooperman, Memory Stocks Bounce Back, OpenAI’s Talent Exodus 8/14/26

Squawk on the Street

[SPEAKER_10] Good Friday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Contessa Brewer and David Faber here at Post 9 of the New York Stock Exchange. Sarah Eisen's off. Today, Omega Family Office Chair and CEO Lee Cooperman's with us. Markets coming off all-time highs. We'll see where Lee sees value right now and whether he thinks this AI trade is a bubble waiting to pop.

[SPEAKER_10] Disney's chief Josh DiMauro, one of his first interviews since taking the job, will be live at D23 in Anaheim. And a talent exodus at OpenAI raising some concerns ahead of any potential IPO. We'll look at the recent departures there and these new reports surrounding the company's financials.

[SPEAKER_02] First, let's kick this hour off with business inventories and consumer sentiment just crossing the tape. Rick Santelli has that for us. Morning, Rick.

[SPEAKER_06] Good morning. Thank you, Contessa. Indeed, these are weak numbers. These are August 1st glimpse, the preliminary for University of Michigan, which has diverged in so many ways with other indices. 51 is the headline number. That's four points lower than the 55 expected. And yes, it's an expansion territory, but sequentially lower than 55.2. That would be the weakest since we were back under 50 in June when we were at 49 and a half.

[SPEAKER_06] Now, if you look at the current conditions, very similar scenario. 51.8, we're expecting a number closer to 55. It follows 54.8. 51.8, also the lowest since June when it was also in contraction territory below 50. Now, expectations, all three. This one's above 50. That is probably the only good news that they are all expanding.

10AM Hour: Wall St. Legend Leon Cooperman, Memory Stocks Bounce Back, OpenAI’s Talent Exodus 8/14/26

Read the full transcript

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

10AM Hour: Wall St. Legend Leon Cooperman, Memory Stocks Bounce Back, OpenAI’s Talent Exodus 8/14/26

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.