A sign is posted in front of a Broadcom office in San Jose, California, on Dec. 12, 2024.
Justin Sullivan | Getty Images
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.
Here are five key things investors need to know to start the trading day:
1. Broadcom’s boon
OpenAI made its latest artificial intelligence partnership official yesterday, announcing a custom chip deal with Broadcom. Shares of the chipmaker closed Monday’s session nearly 10% higher following news of the partnership, though the stock pulled back by 3% in premarket trading this morning.
Here’s what to know:
The companies — which have been working together for 18 months — are building and deploying 10 gigawatts of custom AI accelerators as part of the deal.
While the financial terms of the agreement weren’t disclosed, analysts were quick to suggest that OpenAI is the unnamed $10 billion customer that Broadcom touted in September. But Charlie Kawwas, president of Broadcom’s semiconductor solutions group, told CNBC that the mystery customer is a different company.
With the deal, CNBC’s MacKenzie Sigalos reports, OpenAI is venturing into the chipmaking business and increasingly positioning itself as a competitor to hyperscalers.
Tech stocks led the market’s rebound to start the week, with the S&P 500clawing back more than half of what it lost in Friday’s sell-off.
Oaktree Capital Management co-founder Howard Marks said he isn’t describing the AI trade as a “bubble” just yet. “The valuations are … high but not crazy,” he told CNBC.
2. Bank teller
Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co. speaks during an event honoring local construction workers who helped build the firm’s new headquarters at 270 Park Avenue, in the Midtown area of New York City, U.S., Sept. 9, 2025.
Shannon Stapleton | Reuters
3. Peace deal
U.S. President Donald Trump speaks to Israeli Prime Minister Benjamin Netanyahu at Ben Gurion International Airport before boarding his plane to Sharm El-Sheikh, on October 13, 2025 in Tel Aviv, Israel.
Chip Somodevilla | Getty Images
President Donald Trump traveled to Israel and Egypt yesterday to finalize a peace deal he said ended the war in Gaza. Trump first arrived in Tel Aviv to mark the release of Israeli hostages taken by Hamas during its 2023 invasion of Israel, saying in a speech at the Israeli parliament that the “long and painful nightmare” was over for both Israelis and Palestinians.
Experts told CNBC’s Lori Ann LaRocco that despite the ceasefire, ocean carriers likely won’t return to the Red Sea in the near future. The Houthi rebels who have launched attacks on trade vessels in the body of water said they will not stop targeting the maritime routes.
4. The rare earth row
A view of mining facilities at the MP Materials rare earth mine in Mountain Pass, California, U.S. January 30, 2020.
Steve Marcus | Reuters
Shares of U.S. rare earth miners are continuing to rally before the opening bell this morning. The stocks notched solid gains in Monday’s session after China’s tightening of export controls led Trump to reignite the U.S.-China trade dispute.
As CNBC’s Spencer Kimball reports, Beijing’s restrictions on rare earth exports could hit the U.S. defense industry, in particular. The Defense Department is reportedly speeding up its effort to stockpile $1 billion worth of the critical minerals, which are crucial components of several U.S. weapons systems. The fact that the U.S. doesn’t have its own rare earth reserve is “scandalous,” Jeremy Siegel of the University of Pennsylvania told CNBC yesterday.
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5. If the price is right
A 2019 Nissan Motor Co. Rogue sport utility vehicle (SUV) sits on the lot at a car dealership in Joliet, Illinois, U.S., on Wednesday, Oct. 2, 2019.
Daniel Acker | Bloomberg | Getty Images
The average price for a new car reached new highs last month. According to Cox Automotive, the average price paid in September surpassed $50,000 for the first time ever.
But while price tags climb and well-off consumers shell out, auto loan delinquency rates among people with low credit ratings are sitting near all-time highs. As CNBC’s Mike Wayland reports, it’s the latest example of a “K-shaped” economy in the U.S.
The Daily Dividend
— CNBC’s MacKenzie Sigalos, Ashley Capoot, Spencer Kimball, Sam Meredith, Lori Ann LaRocco,Liz Napolitano, Holly Ellyatt, Samantha Subin and Mike Wayland contributed to this report. Josephine Rozzelle edited this edition.
Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023.
Gonzalo Fuentes | Reuters
SpaceX and Tesla CEO Elon Musk criticized acting NASA Administrator Sean Duffy after he told media outlets this week that the billionaire’s space company is falling behind U.S. plans to return to the moon.
“The person responsible for America’s space program can’t have a 2 digit IQ,” Musk wrote in a Tuesday post on X.
In response to other user posts, Musk referred to the transportation secretary as “*Sean Dummy” and said he is “trying to kill NASA!” Musk later posted a poll asking users “Should someone whose biggest claim to fame is climbing trees be running America’s space program?” Musk appeared to be referring to Duffy’s background as a competitive speed climber.
On Monday, Duffy told CNBC that SpaceX was “behind” schedule on building its lunar landing system for the space agency’s Artemis III mission and that he would consider other contracts with competitors such as Jeff Bezos’ Blue Origin.
SpaceX and Blue Origin will have until Oct. 29 to offer ways to speed up the project, a NASA official told CNBC. The agency will also ask the industry to suggest ways to “increase the cadence” of Moon missions.
President Donald Trump selected Duffy to become the acting NASA administrator in July. The position had been vacant since the start of Trump’s presidency. Trump had previously nominated Musk ally Jared Isaacman, but he pulled the nomination earlier this year, saying he was a “blue blooded Democrat, who had never contributed to a Republican before.”
CNBC reported earlier this month that Trump has held talks with Isaacman to reconsider the role.
NASA is racing against China and others to get humans back to the moon for the first time since 1972. The space agency launched the Artemis project under Trump’s first administration with the goal of creating a “long-term presence” on the moon for science and tech discovery.
SpaceX won a contract to build the technology in 2021. Other contractors such as Blue Origin, Lockheed Martin and Boeing are participating in various stages of the program.
But the project has been fraught with setbacks.
NASA launched its first Artemis mission in November 2022. Last December, the agency delayed its planned Artemis missions. NASA’s first Artemis launch with astronauts is now slated for April 2026, with a third mission to land two astronauts on the Moon planned for 2027.
Now, the space agency is also grappling with the aftershocks from an ongoing government shutdown that threatens to stall any plans to reopen contracts. CNBC previously reported that NASA’s employees working on the mission with contractors will work during the shutdown.
HBO Max is the latest streaming services to raise its prices.
The streaming giant, owned by Warner Bros. Discovery, announced Tuesday that it is raising prices across all plans. HBO Max’s Basic with ads plan is increasing $1 a month to $10.99, the Standard plan is going up $1.50 to $18.49, and Premium is increasing $2 to $22.99. HBO Max last raised prices in June 2024.
The price hikes are effective immediately for new subscriptions. Existing monthly subscribers will be notified 30 days in advance of their plan renewing, with the new prices starting on their next billing date on or after November 20, the company said.
The updates come as the streaming market becomes increasingly saturated with options — and as other major apps hike their prices. Disney raised the price of its Disney+ plans and bundles last month, Apple hiked the price of Apple TV by 30% in August and Netflixraised its prices early this year.
WBD CEO David Zaslav indicated in September that price increases were on the way along with a stricter crackdown on sharing passwords.
“The fact that this is quality, and that’s true across our company, motion picture, TV production and streaming quality, we all think that gives us a chance to raise prices,” Zaslav said at the Goldman Sachs Communacopia + Technology Conference last month. “We think we’re way underpriced.”
As of June 30, WBD said it had 125.7 million paying subscribers to all of its streaming services. That stat includes HBO Max as well as other legacy linear subscribers to HBO, who have access to the streaming service.
HBO Max’s news comes as its parent company, WBD, undergoes changes of its own. The company announced in June that it plans to split into two public companies by 2026. A streaming and studios company would include its movie properties and HBO Max, while a global networks business would include linear channels like CNN and TNT Sports.
At the same time, WBD is fielding takeout interest from companies including Paramount Skydance and said Tuesday it’s open to a sale.
Packages on a conveyor belt at an Amazon fulfilment center in Dartford, UK, on Monday, July 7, 2025.
Jason Alden | Bloomberg | Getty Images
Amazon on Tuesday launched a new ultrafast delivery service in the United Arab Emirates that can ferry groceries, cosmetics, electronics and other household items to shoppers in 15 minutes or less.
The service is called Amazon Now and includes a range of “everyday essentials,” the company said in a release.
Amazon said orders can be placed “24/7” and are shipped out via micro-fulfillment centers, or small-format warehouses, located in UAE neighborhoods. Each site’s product selection is tailored “based on hyperlocal demand,” the company said.
Some locations can receive deliveries in as little as six minutes, Amazon said.
The launch in the UAE marks an expansion of Amazon Now, which debuted in Bangalore and New Delhi earlier this year. Amazon Now will compete with established “quick commerce” players like Zepto, Swiggy and Blinkit in India, as well as Noon and Careem in the UAE.
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Amazon has built up a sprawling in-house logistics and fulfillment network over the past several years that’s given it increasingly greater control over delivery speeds.
The company is delivering more items the same or next day after making two-day delivery the standard, and it’s also launching delivery drones in some pockets of the U.S. and Europe, which are capable of dropping off some items in 30 minutes or less.
A wave of instant delivery startups took hold in the U.S. in recent years, promising to drop items at shoppers’ doorsteps in 15 minutes or less, but many of them were acquired or shut down, such as Russia-born Buyk or Fridge No More, while Turkey’s Getir exited the U.S. last year.
Prime members get free delivery for Amazon Now orders that are above $6 (AED 25), while orders below that threshold will incur a delivery fee of about $1 (AED 6).