Carl Quintanilla, Jim Cramer and David Faber explored market reaction to Nvidia&#x27;s record Q1 results fueled by the AI boom. Hear what Nvidia CEO Jensen Huang told CNBC about the tech giant benefiting from hyperscalers. The anchors broke down what&#x27;s in SpaceX&#x27;s IPO filing: Elon Musk&#x27;s company setting the stage for a historic public debut. Walmart shares down sharply on weaker-than-expected guidance — the retail behemoth citing the impact of high gasoline prices on customers. Toll Brothers Executive Chairman Doug Yearley joined the program at Post 9 to discuss the state of the housing market one day after the homebuilder&#x27;s shares rallied on earnings. Also in focus: Intuit tumbles, the &quot;Trump effect&quot; on surging quantum computing stocks.<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: Nvidia's Record Quarter and the AI Trade, SpaceX IPO Filing, Walmart Slides On Guidance 5/21/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (None)
- **Doug Yearley** (Toll Brothers)

## Transcript

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[SPEAKER_05] Market moving insight and analysis. Join Jim Cramer, David Faber, and me, Carl Quintanilla, on the opening bell hour of CNBC's Squawk on the Street. Morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, host 9 of the New York Stock Exchange. Futures near session lows. It is a jam-packed morning. More saber rattling from Iran. The SpaceX filing. NVIDIA's earnings. And Walmart warning about higher retail price inflation in the second half. Oil's back near 101. Retail gasoline remains near the May highs.

[SPEAKER_05] Our roadmap begins with NVIDIA, though. The earnings reaction. Some muted stock response despite another beat. Revenue surges 85% year on year.

[SPEAKER_02] Plus, Elon Musk's SpaceX filing that long-awaited IPO prospectus. It is expected to set the record for the largest offering ever. And, of course, we're going to dig through all of the numbers. Wall Street. Excuse me. Walmart. Which stock trades on Wall Street. It is under pressure this morning. After the latest results are out from the very large retailer. Worse than expected. Outlook higher gas prices. Weighing on consumers.

[SPEAKER_05] Let's begin with NVIDIA and the record quarter there. This is what Jensen Huang had to say to our Sarah Eisen about benefiting from some hyperscalers.

[SPEAKER_10] The hyperscalers is where the AI frontier models are. And we're gaining share there. We're gaining share there because we've always supported OpenAI and XAI and Meta MSL and Microsoft's AI and a whole bunch of other AI startups. But this year, we had the benefit of also winning Anthropic.

[SPEAKER_05] Got some news in there, Jim, about Vira and second half production and the TAM there.

[SPEAKER_17] Well, look, the stock was up a little bit before the new Iranian news. We're...

9AM Hour: Nvidia's Record Quarter and the AI Trade, SpaceX IPO Filing, Walmart Slides On Guidance 5/21/26

Transcript

Built for investment professionals

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

9AM Hour: Nvidia's Record Quarter and the AI Trade, SpaceX IPO Filing, Walmart Slides On Guidance 5/21/26

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.