CNBC

Lead Story

Nvidia CEO Jensen Huang unveiled a groundbreaking alliance with six Wall Street powerhouses—including Goldman Sachs, BlackRock, Blackstone, KKR, Apollo, and Brookfield—to establish a $500 billion financing platform that transforms AI data centers and graphics processing units (GPUs) into an investable, asset-backed infrastructure class. While this massive capital mobilization addresses the funding needs of neoclouds and startups driving AI demand, analysts warn that rapid hardware depreciation and potential low-cost computing floods from China pose significant risks to the collateral backing these loans.

Markets & Economics

Energy markets surged as international benchmark Brent crude climbed near $90 a barrel, with Goldman Sachs warning that risks to our Brent crude base case are skewed to the upside following dwindling hopes for a Strait of Hormuz resolution and news that the U.S. Strategic Petroleum Reserve has hit its lowest level since 1983. In response, sovereign borrowing costs escalated as shown in Treasury yields up as oil prices jump, with the 10-year Treasury yield climbing to 4.7334% ahead of Wednesday’s critical July Consumer Price Index (CPI) report. This inflation print—expected to show 3.4% headline and 2.5% core annual growth—will likely determine the Fed’s next move on its 3.5%-3.75% benchmark rate, which currently stands as a 50-50 coin flip for September. On the housing front, July existing home sales dropped 1.7%, while a New York Fed report showed credit card debt has reached $1.26 trillion with late-stage delinquencies spiking to 12.8%, signaling a persistent K-shaped economic divide.

Business & Earnings

In a massive structural shift, bitcoin miner Riot Platforms skyrocketed after securing a 9.1 billion Anthropic deal, leasing 191 megawatts of capacity at its Rockdale, Texas campus over 20 years to transition into an AI infrastructure landlord. AI cloud provider CoreWeave also posted blockbusting growth, with Q2 revenue climbing 112% to $2.58 billion and shares jumping 13% after hours, as discussed on Options Action: AI earnings after the bell. This AI momentum lifted Super Micro Computer by more than 6% after hours on the back of blowout Q1 revenue guidance of $14.5 billion to $15.5 billion. In other corporate action, healthcare distributor Cardinal Health set a record high after reporting fourth-quarter adjusted EPS of $2.60—beating the $2.42 consensus—and issuing robust fiscal year 2027 guidance, while General Motors clinched an up to $4.5 billion parts supply chain deal to safeguard against components shortages.

Investing & Commentary

Jim Cramer’s Charitable Trust executed a tactical rotation, establishing a small position in memory chip giant Micron Technology (MU) at roughly $872 per share while completely exiting industrial conglomerate Dover (DOV). For broader market guidance, Cramer noted on Jim Cramer’s Morning Meeting that investors can take the market’s temperature by asking three questions: where are bonds, where is oil, and how is Nvidia? Meanwhile, “Big Short” investor Steve Eisman noted in Future of hyperscalers hinge on OpenAI and Anthropic that the entire AI buildout’s continuation relies heavily on whether these frontier labs actually succeed, while Truist upgraded Best Buy (BBY) to buy with a $95 target based on emerging AI consumer electronics demand.

Also Worth Watching

• Europe has plenty of startups. Why are there so few tech giants? · CNBC: Arm co-founder Hermann Hauser explains why Europe struggles to scale tech startups into giants and what quantum computing could change by 2029.
• Hunterbrook’s Sam Koppelman talks UWM’s wild week · CNBC: Koppelman joins the show to discuss Hunterbrook’s latest investigative report into UWM Holdings.
• Home affordability is ‘still a big problem’ · CNBC: Ivy Zelman joins “The Exchange” to analyze July’s existing home sales figures and persistent pricing pressures in the housing sector.
• Dr. Offit on President Trump’s vaccine EO · CNBC: Dr. Paul Offit criticizes the administration’s childhood vaccine executive order, calling President Trump and HHS Secretary Robert F. Kennedy Jr. “science-resistant denialists”.
• Sony Pictures CEO Ravi Ahuja on the box office recovery · CNBC: CEO Ravi Ahuja expresses strong encouragement over theatrical box office performances this year.

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