Tusk Ventures CEO Bradley Tusk joins to discuss the implications of OpenAI reportedly proposing handing over a 5% stake to the Trump Administration. We also discuss this morning&#x27;s jobs number with former CEA Chair Jared Bernstein. Then, we break down Tesla&#x27;s latest deliveries that beat expectations. Plus, as Americans brace for a heat wave this weekend, we take a look at the impact on power prices and the grid. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

11AM Hour: Bradley Tusk on Tech, Tesla Deliveries Beat Expectations & Heat Wave Impact on Power Prices 7/2/26

Squawk on the Street

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**Podcast:** Squawk on the Street

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[SPEAKER_C] Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Leslie Picker here, post-9 of the New York Stock Exchange. Sarah Izen has the morning off today. So much for the World Cup bump. June jobs coming in about half of expectations. Is the report a blip or the start of a trend?

[SPEAKER_D] Plus, OpenAI reportedly seeking to defuse growing political pressure and talking with the Trump Administration about a government stake in the company. Veterans Startup investor Bradley Tusk is with us. Why he thinks the move could signal that management might think their, quote, valuation is complete nonsense.

[SPEAKER_C] 35 states facing a sweltering heat wave this weekend, prompting concerns about the grid. We'll explore the power price surge and just how high they may spike. Speaking of prices, watching the markets today was eventful once again in South Korea overnight with the KOSPI down 8%. Semis continue to get challenged here. Information technology and com services, one of the few sectors that are red today, along with consumer discretionary. That jobs number on the weak side has given a little relief to yields, but not a lot. 10-year, 4.46%.

[SPEAKER_D] We will start with Tesla deliveries this morning. Phil LeBeau has those details. Hey, Phil.

[SPEAKER_F] Hey, Leslie. When you take a look at the numbers for Tesla, second quarter, far better than expected. And when I say far better than expected, I don't know anybody who was expecting them to deliver more than 480,000 vehicles. The estimate from the analysts, the consensus was just over 460,000. 6,000. That's an increase of 34% compared to the first quarter. So what's changed compared to the first quarter? Well, first of all, let's tell you that the full-year delivery numbers— you're going to see the estimates go up from here because they've already delivered 838,000 vehicles for the year. This could be a chance for them to break 2 straight ye...

11AM Hour: Bradley Tusk on Tech, Tesla Deliveries Beat Expectations & Heat Wave Impact on Power Prices 7/2/26

Transcript

Built for investment professionals

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

11AM Hour: Bradley Tusk on Tech, Tesla Deliveries Beat Expectations & Heat Wave Impact on Power Prices 7/2/26

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.