Stocks' AI-Fueled Run-Up, OpenAI-Microsoft Partnership Revamp, "Musk vs. Altman" Heads to Trial 4/27/26
Squawk on the Street
- Published
- April 27, 2026
- Duration
- 43:06
- Summary source
- description
- Last updated
- May 7, 2026
Discusses openai, investing.
Summary
Entering a big week in which most of the Magnificent 7 lead the earnings parade, David Faber and Jim Cramer covered many developments surrounding AI: The record run for stocks including Nvidia's market cap rising back above $5 trillion, OpenAI caps revenue share payments as part of its revamped partnership with Microsoft, Elon Musk's lawsuit against OpenA…
AI stocks hit record highs as Nvidia tops $5T, OpenAI rewrites its Microsoft deal, and Related Digital secures $16B to build Oracle's Michigan data center ahead of the Musk-Altman trial.
Key takeaways
- OpenAI and Microsoft restructured their partnership ahead of the Musk-Altman trial: Microsoft's IP license becomes non-exclusive, revenue share continues through 2030 with a cap, and OpenAI can now use any cloud provider—clearing the path for a near-term IPO.
- Related Digital secured $16B in financing (anchored by a $10B PIMCO commitment via 144A bonds, 3x oversubscribed) to build a 1+ gigawatt Oracle/OpenAI data center in Michigan, establishing a new public-markets construction financing model for hyperscale AI infrastructure.
- Semiconductor stocks are being driven by genuine EPS growth—not just multiple expansion—as memory supply constraints (Micron, Western Digital, SK Hynix) and insatiable data center demand keep pushing prices higher, though early-morning gap-ups signal potential blow-off risk.
Why this matters
The OpenAI-Microsoft restructuring, a novel $16B bond-financed AI data center, and the Musk-Altman trial collectively signal that AI infrastructure financing, corporate governance, and competitive cloud dynamics are entering a new, more institutionalized phase with direct implications for enterprise technology strategy and capital allocation.
Entities
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Show notes
Entering a big week in which most of the Magnificent 7 lead the earnings parade, David Faber and Jim Cramer covered many developments surrounding AI: The record run for stocks including Nvidia's market cap rising back above $5 trillion, OpenAI caps revenue share payments as part of its revamped partnership with Microsoft, Elon Musk's lawsuit against OpenAI and its CEO Sam Altman goes to trial Monday, Related Companies CEO Jeff Blau joined the show to discuss Related Digital securing financing fo
Themes
- openai
- investing