Summary

Carl Quintanilla, Jim Cramer and David Faber kicked off a new week with the AI trade: Shares of SK Hynix tumbled 15% for its worst-ever day in the South Korean markets. The stock also fell sharply on Wall Street after surging 13% Friday in its U.S. trading debut — and dragged down memory names including Micron and Sandisk. The anchors reacted to the Sam A…

Key takeaways

• SK Hynix's record single-day decline in South Korea was seen as market-structure noise rather than a fundamental shift, with secular demand for HBM/DRAM driven by long-term AI data center agreements remaining intact.
• The Apple vs. OpenAI trade-secrets lawsuit is viewed as unusually serious given Apple's historically disciplined litigation posture, while simultaneously complicating OpenAI's path to a public offering.
• Energy infrastructure (refiners, natural gas-powered data centers, GE Vernova turbines, Caterpillar diesel generators) is quietly outperforming high-profile AI names as the real bottleneck—and profit center—in the AI buildout shifts to power supply.

Why this matters

For B2B investors and corporate strategists, the AI infrastructure trade is rapidly bifurcating: headline GPU/chip demand remains strong, but durable alpha is migrating to power generation, energy transmission, and refining assets that are structurally capacity-constrained and largely immune to model-efficiency disruption.

Entities

Related reports

• 11AM Hour: SK Hynix Opens for Trade, FCC Chairman Brendan Carr & Apple's China Sales Fall 7/10/26

  Squawk on the Street

• 10AM Hour: SK Group Chairman on U.S. Listing, Expectations for Bank Earnings, Bullish Meta Options Activity 7/10/26

  Squawk on the Street

• 9am Hour: U.S. Debut Day for SK Hynix, Fed Chairman Warsh's Task Forces, Meta Jumps 7/10/26

  Squawk on the Street

Show notes

Carl Quintanilla, Jim Cramer and David Faber kicked off a new week with the AI trade: Shares of SK Hynix tumbled 15% for its worst-ever day in the South Korean markets. The stock also fell sharply on Wall Street after surging 13% Friday in its U.S. trading debut — and dragged down memory names including Micron and Sandisk. The anchors reacted to the Sam Altman-Elon Musk's social media spat in wake of Apple's lawsuit against OpenAI. Also in focus: Oil prices jump on U.S.-Iran tensions, SpaceX sha

Themes

• openai
• investing