On the final trading day of May, Carl Quintanilla, Jim Cramer and David Faber led off the show with Dell shares soaring more than 30% on the company&#x27;s blowout quarter and upbeat outlook. The anchors explored what it all means for the AI trade. They also discussed a bullish month of May and record highs for stocks, as well as the groups that have missed out on this month&#x27;s rally. WTI Crude on track for its worst month in more than a year amid hopes for a U.S.-Iran peace deal. Also in focus: Chevron&#x27;s CEO warns of a spike in oil prices this summer, Anthropic overtakes OpenAI on the valuation front, Elon Musk&#x27;s X post about SpaceX and Anthropic, Costco and Gap fall, earnings winners and losers, Clorox CEO to step down.<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: Dell Soars on Blowout Quarter, Bulls Rule in May, Bearish Month for Oil 5/29/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (None)
- **Jim Cramer** (None)
- **David Faber** (None)
- **Pauline Yang** (Altimeter Capital)

## Transcript

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[SPEAKER_09] Market insight and analysis. You're listening to the opening bell of CNBC's Squawk on the Street.

[SPEAKER_02] 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. Final trading day of May. Bulls take aim at some fresh records. They'll approach 7,600, thanks in part to Dell's blowout quarter and hopes for some details around this reported MOU to extend the ceasefire with Iran. Oil is backing off West Texas below 87, now on pace for its worst month in more than a year.

[SPEAKER_02] Our roadmap begins with the S&P on track for its ninth straight week of gains to end May, despite seven of the 11 S&P sectors in negative territory for the month.

[SPEAKER_09] Plus, Dell is by far the top pre-market gainer on the S&P. The stock looking up over 100 points right now. That would be more than 30% on what was just an insane earnings point. Maybe the best ever since NVIDIA's. And we're going to spend a lot of time on it, obviously, guidance far ahead of what had been expected.

[SPEAKER_09] And then there's Anthropic overtaking OpenAI. It is now the most valuable AI startup right around, as I reported, or many others who have that trillion-dollar valuation. Of course, that follows this latest funding round. Carl.

[SPEAKER_02] Let's begin with Dell, though, surging on its blowout quarter. The upbeat guidance fueled by the AI boom. Revenue up 88 in Q1. That's the fastest growth since the company did return to public markets in 2018. A lot of numbers being tossed around, Jim, on AI servers. B of A, was it 280? They go to 500 in a hurry.

[SPEAKER_10] Yeah. I mean, people didn't see this coming, which is hard to believe because Michael's been saying things ar...

9AM Hour: Dell Soars on Blowout Quarter, Bulls Rule in May, Bearish Month for Oil 5/29/26

Transcript

Built for investment professionals

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

9AM Hour: Dell Soars on Blowout Quarter, Bulls Rule in May, Bearish Month for Oil 5/29/26

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.