Carl Quintanilla, Jim Cramer and David Faber led off the show with market reaction to the better-than-expected April jobs report, plus where AI fits into the labor picture. The anchors also discussed layoffs at Cloudflare, Upwork and BILL.com — the companies&#x27; announcements came within a 24-hour period. CoreWeave CEO Michael Intrator joined the program at Post 9 to talk about the company&#x27;s AI strategy, as well as the guidance that sent the stock lower. Another record setting day for the Nasdaq, with Nvidia and Apple hitting all-time highs. Also in focus: Anthropic&#x27;s push toward a $1 trillion valuation, earnings winners and losers including Airbnb and Coinbase, U.S.-Iran deal watch. 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.

Jobs Report Gains vs. Layoffs, CoreWeave CEO "First on CNBC," Mega-Tech Record Highs 5/8/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (CNBC)
- **Jim Cramer** (CNBC)
- **David Faber** (CNBC)
- **Michael Intrater** (CoreWeave)

## Transcript

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[SPEAKER_15] 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. 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. Bulls will try once again for 7,400 as April jobs comes in strong. A hundred and 15K unemployment steady at 4-3. That takes the six-month average to the highest since last May.

[SPEAKER_15] Oil mostly unchanged, despite the U.S. and Iran exchanging fire in the Strait of Hormuz. The president says he believes the ceasefire is still intact. The UAE intercepts more drones and missiles today. Our roadmap begins with that better-than-expected jobs report. More than doubling expectations.

[SPEAKER_02] Plus, President Trump, well, Carl just said this, saying the ceasefire with Iran is still in effect after the U.S. and Iran did exchange fire yesterday. The president called those latest strikes, quote, just a love tap. And a first-on CNBC interview. Don't want to miss this. CEO CoreWeave, stock under pressure this morning in the pre-market. Some weak guidance. But we're going to also just get an update overall on the data center. So many important things happening in terms of focus on inference and what that has meant.

[SPEAKER_02] Let Michael Intrater be our guest momentarily.

[SPEAKER_15] Let's get some reaction to this jobs number. Dive into some of the internals, Jim. Lost a little on manufacturing. Information jobs. Once again, 16 straight months of net job loss.

[SPEAKER_17] Yeah, it's really amazing. I went the weeks on last night. It's CEO of Corning and Jensen Wong from NVIDIA. They're putting up so many plans at Apple last week. Hiring, hiring, ...

Jobs Report Gains vs. Layoffs, CoreWeave CEO "First on CNBC," Mega-Tech Record Highs 5/8/26

Transcript

Built for investment professionals

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

Jobs Report Gains vs. Layoffs, CoreWeave CEO "First on CNBC," Mega-Tech Record Highs 5/8/26

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.