Squawk on the Street Squawk on the Street 5/11/26
9 snips
May 11, 2026 A lively morning look at markets, from a concentrated AI-led chip rally to frantic semiconductor movers like Intel and Micron. Deep dives on GPU, CPU and memory supply constraints and data-center plays. Tentpole legal drama around Microsoft and the Musk v. OpenAI trial gets previewed. Retail, consumer credit trends and BNPL strategies round out the trading-day setup.
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AI Rally Concentrated In Chip Stocks
- The AI-driven rally is extremely concentrated in semiconductors, with names like Intel, Micron, AMD and Qualcomm seeing explosive, sometimes multi-fold moves.
- Jim Cramer and David Faber compare today's frenzy to past hardware manias, citing DRAM and booth visits as on-the-ground signals of demand.
Empty Booths As A Buy Signal
- Jim Cramer recounts visiting an SK Hynix booth at GTC that was largely ignored, using empty booths as a buy signal.
- He describes talking to booth staff who confidently predicted massive growth, framing booth visits as a simple qualitative investment check.
Inference Is Shifting Data Center Chip Demand
- Data-center demand is reshaping chip mixes: inference increases GPU needs relative to CPUs and drives huge memory demand.
- Executives like Arm's CEO warn capacity constraints at fabs (e.g., TSMC selling out) are limiting near-term supply.