Squawk on the Street Markets After the Sell-Off, Private Credit Pain, AMD CEO Exclusive on Meta AI Chip Deal 2/24/26
9 snips
Feb 24, 2026 
Lisa Su, Chair and CEO of AMD, a leader in semiconductor and AI chips. She discusses AMD’s multiyear AI chip agreement with Meta and the company’s strategy for AI infrastructure. Short takes cover the deal’s structure, performance-based warrants, Meta’s infrastructure bets, and why the AI cycle is still early.
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Private Credit Opacity Hides Software Exposure
- Private credit growth masks opacity and concentration risks that could surface if AI disrupts enterprise software cash flows.
- Jim Cramer and David Faber note funds like Blue Owl and BDCs hold sizable software loan exposure and may be mis-marked near par.
Reported Loan-to-Value Can Be Misleading
- Private credit now includes a meaningful share of loans to software and healthcare-tech companies that may be misclassified.
- David Faber highlights loan-to-value reports can understate leverage if marks shift or borrowers use pay-in-kind securities.
Avoid Assuming Par Value In Private Credit
- Be cautious buying into par valuations for private credit instruments; assume some level of impairment risk.
- Jim Cramer and David Faber recommend investors scrutinize BDC holdings, distribution levels, and pay-in-kind exposure before allocating capital.
