Carl Quintanilla, Jim Cramer and David Faber discussed a report from Iranian state media, which said Iran will consider all of Elon Musk’s companies in the Middle East as military targets as it retaliates against the U.S. This comes one day before Musk&#x27;s SpaceX is set to go public with a historic and massive IPO. The anchors reacted to Oracle shares taking a hit: The company&#x27;s AI spending plans overshadowed a Q4 beat. In San Francisco, David previewed his interview with Jeff Bezos and Vik Bajaj, Co-CEOs and Co-Founders of AI startup Prometheus. KKR, Nvidia, Vistra and Kuwait Investment Authority have launched a new AI infrastructure company, Helix Digital Infrastructure. The CEO of Helix and a top executive at KKR joined the program to talk about it. Also in focus: Stocks try to rebound from Wednesday&#x27;s sell-off, hotter-than-expected May PPI, a look back at SpaceX through the years.<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: Iran Said to Threaten Musk's Companies, SpaceX's Public Debut One Day Away, Oracle Tumbles 6/11/26

Squawk on the Street

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**Podcast:** Squawk on the Street

## Transcript

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[SPEAKER_D] Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer at Post 9 of the New York Stock Exchange. David Faber is in San Francisco today ahead of a major interview with the Prometheus co-founders and co-CEOs Jeff Bezos and Vik Bajaj. Meantime, it is a complex backdrop with Oracle down nearly 10% on CapEx jitters. Producer inflation near 4-year high, up 6.5%. And then oil holding gains as the president threatens to essentially invade and occupy Iranian oil infrastructure, including Karg Island. And the U.S. and Iran trade strikes for a second day. Let's begin with David, though, out west ahead of those two major interviews. Morning, David.

[SPEAKER_C] Yeah, this morning we're going to learn about Prometheus. Of course, I'm here at the headquarters of the company, essentially still sort of a startup in the world of what we call physical AI. And as you just said, of course, Vik Bajaj and Jeff Bezos, the company's co-CEOs, are going to be with me a little less than an hour from now or so, Carl. And we'll talk about what the company is trying to accomplish, its latest funding round, and all sorts of other issues around AI, but specifically around this side, which is very different, of course, from the LLMs that we are so accustomed to. And we're going to spend a lot of time talking about this morning, certainly given those Oracle earnings as well. Sort of a different approach, different datasets, trying to really focus on manufacturing and on the world of things essentially that are created and built and shrink those timelines for doing so. So we'll have a lot more, of course, very much looking forward to that conversation. A bit later in the program.

[SPEAKER_E] When you speak to Jensen Huang from Nvidia and obviously your understanding of his role in this whole process, he's always said this is the biggest, this is the $40 trillion physical world because the actual ...

9am Hour: Iran Said to Threaten Musk's Companies, SpaceX's Public Debut One Day Away, Oracle Tumbles 6/11/26

Transcript

Built for investment professionals

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

9am Hour: Iran Said to Threaten Musk's Companies, SpaceX's Public Debut One Day Away, Oracle Tumbles 6/11/26

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.