Carl Quintanilla, Jim Cramer and David Faber covered all of the bases regarding the AI trade: Alphabet plans to raise $80 billion in equity capital to fund AI investments, shares of Marvell Technology soared after Nvidia CEO Jensen Huang called the chipmaker the next &quot;trillion-dollar company,&quot; Hewlett Packard Enterprise shares surged on a quarterly beat and guidance. The anchors discussed highlights from David&#x27;s exclusive interviews with OpenAI CEO Sam Altman and Oracle CEO Clay Magouyrk at Stargate&#x27;s data center in Michigan. Also in focus: President Trump names housing finance chief Bill Pulte as acting director of intelligence, Goldman Sachs says &quot;Sell&quot; Intuit, McDonald&#x27;s new growth strategy, bitcoin falls below $70,000.<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: AI Trade: Alphabet's $80B Capital Raise, Huang's "Trillion-Dollar" Comment Boosts Marvell, HPE Surges 6/2/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanillo** (CNBC)
- **Jim Cramer** (CNBC)
- **David Faber** (CNBC)
- **Sam Altman** (OpenAI)
- **Clay Magouyrk** (Oracle)

## Transcript

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[SPEAKER_06] It's Jim Cramer here. You're listening to the opening bell of CNBC's Squawk on the Street. Don't miss a minute of the action.

[SPEAKER_09] Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Quintanillo with Jim Cramer, David Faber at Post 9 of the New York Stock Exchange. S&P goes for a ninth consecutive daily gain today, although a little pressured in the pre-market. Google's equity raise getting lots of attention. HPE with a blowout. But consumer stocks still lagging. Shake Shack cutting guidance. Oil's down slightly as the president at least says talks with Iran continue at a rapid pace.

[SPEAKER_09] Our roadmap begins with Alphabet, though. This ambitious AI push planning to sell $80 billion in stock, including a $10 billion investment from Berkshire to bolster its AI build-out plans.

[SPEAKER_10] Plus, Jensen Huang's trillion-dollar blessing. Marvell technology is surging in the pre-market because of that. And this is after the NVIDIA said that it could join the ranks of the trillion-dollar club. And why OpenAI? Sam Altman told me he does not think there is a race to go public. This, of course, as OpenAI's rival Anthropic confidentially files for its own initial public offering.

[SPEAKER_09] Let's begin with the AI boom. NVIDIA's Jensen Wong making a bullish comment about Marvell while on stage with that company's CEO. Matt Murphy today at Computex in Taiwan. Take a listen.

[SPEAKER_16] What makes it possible is connectivity. Yeah, I mean, we're seeing it. And then as you think about it. That's why they're going to be the next trillion-dollar company.

[SPEAKER_05] We got a little work to do, but we're on our way. We're on our way. Thank you, Jensen.

[SPEAKER_09] So it's up $25,000 pre-market, Jim. They've invested $2 billion now.

[SPEAKER_06] Right. Now, that's a good friend of our show. He's gone any number of times. And he's bought a huge amount of stock in the open market. So this is a man who totally understands the greatest of his company. He starts the company, buys a business that is optical, OK? It's not a big business. It turns out that he is now also doing work for all the hyperscal...

9AM Hour: AI Trade: Alphabet's $80B Capital Raise, Huang's "Trillion-Dollar" Comment Boosts Marvell, HPE Surges 6/2/26

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
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9AM Hour: AI Trade: Alphabet's $80B Capital Raise, Huang's "Trillion-Dollar" Comment Boosts Marvell, HPE Surges 6/2/26

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.