because the data center heated up, the gpu stocks have been unbelievable it's where people need for gaming this stock must hold i don't know if it can, because things are spotty in the semi world. take a look at micron. it jacked up because intel was having problems. it's coming down as intel has reassured people be careful a stock up 162% is not one that you want to say i'm bottom fishing. >> what's on "mad" >> what is really strong versus what you think is strong very much what i do in football except we're not playing like arsenal. >> but you will fight back you are the champions, of course. >> we are the champions, thank you for saying that. by the way with a british, uk name. >> indeed. jim cramer, thank you very much. >>> still to come, of course, on squawk on the street, we'll continue the discussion on the markets decline.

we did have a problem with the gpu.e had some elevated inventory levels going into the third quarter and those ended up being larger than expected. when you look overall at the business, we are pretty happy with how the business is shaping up particularly around new products. jim, if we looked at it a year ago, we talked about how new products were going to drive amd's growth and amd's market expansion. going into the fourth quarter we will have over 50% of our revenue in those new products around processors, around data center, around gpus in the data center. i think the product story is doing quite well. and then to your question about a year from now, i mean, it is all about products and product competitiveness. we love our markets. we think the data center market is a strong market and will continue to be strong. our goal is to gain market share on the strength of our new products and our competitiveness. >> let's talk about this inventory issue because people are going to focus on that. two things that i'm hearing.

wouldn't look too gpu and hands right right. mister kurtz warm warm room rooms and not only legally. well here's my monthly see. this was your home if. mission role role in a w we. level died on constance because this is what. we should hello. corporate or any easier -- sent help helping now green river the moment as an s. c. five hundred and ten prisoners and had had [inaudible] sent that. from the health. even in the midtown down i can activate earlier last losses definition is just under under black white wine shares and friends. losing over a letter a letter sent out after a sale sale or casast has got coun. down down over summer since 10% on that one is. for one hundred ten tens frank right act that downtown vacancy measure. what's. more days a hot hot isn't it inside [inaudible] the space. he has had a little affairs and shop around. one twenty twenty eighteen missions maker. intent has had a whole colo. under a hundred thousand vehicles across our sir. that's heading heating candle timer timer. for four forty due to proce

the client business did very well, data center business did very well we did have a problem with the gpurticularly the channel. we had elevated inventory levels going into third quarter, and those ended up being larger than expected, but when you look overall at the business, actually we're happy with how the business is shaping up, particularly around new products. >> mitch steefs is with us and good morning to you. comments from lisa su, is this a one off quarter inventory issue or bigger read through to the broader sector >> yeah. for amd in particular we think their big issue is crypto gpu, they were used for mining, huge first quarter of the year, and we're still feeling the after effects. we think sales were 400 million higher in the first quarter. we worked through about 250 of that overhang. but there's still another shoe to drop. we think it could happen in the first quarter for them. >> you think it is bursting of the crypto bubble playing out in their results? >> that's right. in the intermediate term for amd, we think they have one more quarter of pain to take in the first qu

it says the related gpu sales in the third quarter were negligible.: you have to wonder, whether thosere getting hit if miners are reselling or chips into the markets competing with the original once. caroline: secondhand. joe: for more on today's top stories, a series of suspicious packages were sent to various democratic politicians as well as cnn. shannon pettypiece joins us from washington. thank you for joining us. what is the latest right now on this developing story? at the: we are here white house and we are waiting to hear from the president as he leaves for a rally in wisconsin. he should be coming out any minute. oftentimes, when he heads to these rallies, he will stop to talk to the press on the way to the helicopter that takes him to air force one. it is possible he might come out and say something. situations, the white house has struggled to set the right tone. the press secretary came out with a statement, the vice president came out with a statement that the president endorsed and retreated. then, there were remarks the president gave