Summary

A volatile session as tech stocks take a broad leg lower - Carl Quintanilla and Sara Eisen discussed the key names to watch (from SpaceX to Amazon), and broke down what could come next with the CEO of one AI name that just partnered with Nvidia on drug discovery. Plus: a deep-dive on Amazon's new advertising push with OpenAI, a look ahead to Cerebras earn…

Key takeaways

• Fed Chair Warsh signaled a hawkish regime change with laser focus on 2% inflation, making a July rate hike a 50/50 probability according to Goldman Sachs Asset Management, with Goldman's house view shifting to a hold through 2025.
• Sandbox AQ and Nvidia announced a partnership to accelerate drug discovery targeting GPCR proteins (the mechanism behind Ozempic/Mounjaro), reducing screening timelines from years to weeks using physics-based quantitative models.
• Meta launched new smart glasses starting at $299—lower than Ray-Ban Meta's $379—aiming to expand the wearables market to all glasses wearers globally, powered by the Llama Spark model with a potential subscription revenue path.

Why this matters

A hawkish Fed pivot toward strict 2% inflation targeting, combined with AI-driven breakthroughs in drug discovery and semiconductor materials, signals that capital allocation decisions across pharma, semis, and fixed income are entering a fundamentally new regime with higher rates and accelerating physical-AI applications.

Entities

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Show notes

A volatile session as tech stocks take a broad leg lower - Carl Quintanilla and Sara Eisen discussed the key names to watch (from SpaceX to Amazon), and broke down what could come next with the CEO of one AI name that just partnered with Nvidia on drug discovery. Plus: a deep-dive on Amazon's new advertising push with OpenAI, a look ahead to Cerebras earnings after the bell, and an exclusive with Meta's Head of Wearables as the company releases a slew of new AI glasses. Squawk on the Street Disc

Themes

• openai
• investing