Stocks Extend Record Run, Arm CEO "First on CNBC," Anthropic's 80-Fold Growth 5/7/26
Squawk on the Street
- Published
- May 7, 2026
- Duration
- 46:22
- Summary source
- description
- Last updated
- May 7, 2026
Discusses anthropic, investing.
Summary
Carl Quintanilla, Jim Cramer and David Faber drilled down on new record highs for the S&P 500 and Nasdaq — amid investor hopes for an Iran deal. AI in the spotlight: In a "First on CNBC" interview, Arm Holdings CEO Rene Haas spoke about the chip designer's better-than-expected results, which didn't stop the stock from falling sharply lower. The anchors di…
S&P targets 7,400 amid Iran deal hopes; ARM CEO on trillion-dollar potential; consumer weakness hits McDonald's, Whirlpool; Anthropic's 80x growth stuns; SpaceX compute deal raises eyebrows.
Key takeaways
- Anthropic reported 80-fold revenue growth and secured a compute deal with SpaceX's Colossus cluster (220,000+ Nvidia GPUs), highlighting a critical AI infrastructure supply crunch that is forcing frontier AI companies to seek unconventional compute partnerships.
- ARM Holdings expanded its business model from pure IP licensing to producing its own physical silicon (the ARM AGI CPU), with Meta as its lighthouse customer and $2B+ in confirmed pipeline demand, targeting $15B in AGI CPU revenue by fiscal 2031.
- Consumer spending is bifurcating sharply: high-income wage growth runs at ~6% while low-income is near 1%, driving broad weakness across quick-service restaurants (McDonald's, Shake Shack, Domino's, Papa John's) and appliance makers like Whirlpool, while enterprise software (Datadog +32%, Fortinet, CrowdStrike) and AI infrastructure names continue to outperform.
Why this matters
The convergence of explosive AI demand (Anthropic 80x growth, ARM's data-center CPU pivot, Nvidia GPU scarcity) with a bifurcating consumer economy and unresolved geopolitical risk in the Strait of Hormuz is creating a two-speed market where capital allocation decisions—between AI infrastructure plays and traditional consumer/industrial names—carry outsized consequences for B2B investors in 2025.
Entities
Show notes
Carl Quintanilla, Jim Cramer and David Faber drilled down on new record highs for the S&P 500 and Nasdaq — amid investor hopes for an Iran deal. AI in the spotlight: In a "First on CNBC" interview, Arm Holdings CEO Rene Haas spoke about the chip designer's better-than-expected results, which didn't stop the stock from falling sharply lower. The anchors discussed what Anthropic CEO Dario Amodei said about the AI startup trying to keep up with demand, after posting 80-fold growth in Q1. Also in fo
Themes
- anthropic
- investing