satya nadella said he would not oppose this move sp speaking on cnbc with our jon fortt, he said change is needed at open a.i. listen in. >> i think it is very clear that something has to change around the governance we will have a good dialogue with the board on that and we will walk through that as time evolves. the most important thing for me for customers to know is we have all of the capability today. >> for its part, open a.i. is in intense discussions to divide its staff after more than 700 of the company's 770 employees threatened to quit management and the board is still in touch with altman and emmett shear frank, should open a.i. staff follow through with the threat, nadella tells cnbc microsoft is a fantastic home for people who want to continue >> it sounds like he is offering a job. and marc benioff tweeting as well for those employees marc from salesforce silvana, thank you see you in a bit let's see what this means with sara kunst it is always great to see you. good morning >> good morning. let's get into this. you call this a debacle. great word for the situation a lot

jon fortt, an extraordinary interview with satya nadella and don't miss jon's special report tonight,bc. you'll hear a lot more from satya nadella and his thoughts about a.i., as well as the last interview we just listened to. what you heard from satya nadella, are you convinced that market cap sticks? >> not necessarily, no we can do it without him, we've been doing great before, we can do without him, we'd love to have him on the team that's not a necessarily ringing endorsement, but in terms of the stock, it got itself very expensive very quickly now they have to -- it's very hard to continue to build on the momentum they have, in my opinion. >> yeah, great interview and it just seems like it's still a very fluid situation so, i think the stock would have been up 1.5% today anyway, whatever the heck it is. it just seems like there's just a bid for that i give you credit on the other side of the desk, you thought this was going to happen into the holiday season or whatever it just seems like to be a bit of the meltup and it's more of the same microsoft seems to have a lot of optiona

i'm jon fortt. morgan brennan is off. it's a big day for those with their heads in the cloud.oment we'll talk to the ceo of adam web services adam selipsky, the first on cnbc interview from the sidelines of amazon's biggest developer conference of the year in las vegas. plus the ceo of cloud security

alongside kelly evans i'm jon fortt. stocks are jumping today as markets react to the fed decision and the chairman's press conference. yields tumbling as markets seem to think the fed is done hiking. we'll break down what that means for stocks. look ahead to the next big event, apple earnings. plus, rising rates have made buying a house more expensive quickly. what that's done to the real estate market and discuss the battle over broker fees. >> and that's a juicy one. let's get a check on the markets speaking of juicy, the dow is up 503 points. apple reports after the bell, up 1.5%, while the s&p is 1.75 and the nasdaq up 1.6%. all of this on the back of lower bond yields. look at shares of starbucks after sales and profits beat estimate, up 11%, guidance above the current estimate that's been a rare thing lately. the ceo saying demand remains strongp and the pumpkin spiced latte is helping boost sales. yields, a quick check on the 10-year. where we see that yield dropping down to about 4.65% today from a recent high a

welcome in i'm jon fortt.brennan is off today. >>> coming up this hour, transportation secretary pete buttigieg is going to join us to talk about the first meeting of the supply chain resilience council as the biden administration tries to prevent future stalls and fight inflation. >>> and former wells fargo ceo joins us on the outlook for the fed and when he thinks federate cuts could start and we're kicking off cloud week ahea

our jon fortt has details. big day, jon >> it is, carl microsoft's ceo satya nadella will take the stage here at the seattle convention center in less than an hour. then come join us here on cnbc here's the news. i'll break it down into a couple of categories. talk about chips and software and some context on the chip side, microsoft is announcing a couple of different custom chips the first one, azure maya. this is an ai chip from microsoft's own workload think about themicrosoft 365 apps and the things that microsoft itself builds that it wants to run efficiently in data centers. the goal of this chip is to run that more efficiently for investors thinking about this, hey, data centers cost a lot of money to run, so if this chip can do that better, that means high margins overtime, and microsoft being able to build out more quickly than competitors. think about amazon, think about google and others. the second chip, azure cobalt. this is not specifically for ai. think of this as general purpose cloud computing.

alongside kelly evans i'm jon fortt.kets react to the fed decision and the chairman's press conference. yields tumbling as markets seem to think the fed is done hiking. we'll break down what that means for stocks. look ahead to the next big event, apple earnings. plus, rising rates have made buying a house more expensive quickly. what that's done to the real estate market and discuss the battle over broker fees. >> and that's a juicy one. let's get a check on the markets speaking of juicy, the

i'll send it in to o.t there's the bell morgan brennan and jon fortt. >> you have your scorecard on wallcome to "overtime" jon fortt back with morgan brennan. >> welcome back. retail in focus as walmart pulls back on earnings and macy's gets a boost. we'll get more reads on the consumer this hour when gap and ross stores report results we will bring you those numbers as soon as they cross. >> carvana shares sinking 5% off the midday lows on news amazon is getting into the auto sales business starting with hyundai carvana's ceo about that news and how it shakes up his

eastern time for a special report with jon fortt, satya tnadella. >>> as far as stock are concerns, i think stocks would have been up 1.5% today or whatever anyway. i give you credit on the other side of the desk. you thought this was going to happen into the holiday season or whatever. it is more of the same. microsoft seems to have a lot of options in 24 situation. >> i heard satya say we're committed to opening ai and sam no matter what happens. again, there's so much fluidity to this situation and microsoft views they have been here before ai or open ai and will be here after. i hear arguably the or one of the most powerful companies in the world being very confident on their position now irregardless. i should say regardless by the way. i hate i did that. whether or not anything changesstructurally in house or not. clearly microsoft has done a deft job of staying close to sam and his team and letting them know he supports them no matter what. >> i think if sam goes back to ai and as if none of this happened, i think it's probably a little worse for microsoft. you have a lot of cu

i'm jon fortt with morgan brennan. >>> thomas hoenig will talk about the treasury yields and how the fed's next decision. >> another twist in the openai saga. sam altman is back as ceo with major changes to the board. we'll talk about it means with microsoft shareholders and silicon valley. investors have a lot to be thankful for wit

salesforce marc benioff posting on x saying he would hire them then satya nadella spoke to jon fortt on "fast money" and said microsoft would benefit if open a.i. workers would stay or follow altman to microsoft >> i care about making sure to continue to innovate i feel confident microsoft has all of the capability to just do that on our own. we chose to partner with open a.i. we want to continue to do so obviously, that depends on the people at open a.i. staying there or coming to microsoft i'm open to both options. >> nadella said no matter what happens, open a.i. needs changes. the stock closing at a record high on top of all this, bloomberg reporting an internal memo to open a.i. employees that it is in continues discusintense discussions. they are not prepared to give a final response reuters reporting that venture investors were exploring legal recourse against the company's bo board. they could lose hundreds of millions of dollars if the company collapses. becky, we talked about the valuation of microsoft and did it overpay it looks like the venture capitalists have the most t

." >>> we have our scorecard on wall street, another rally i am jon fortt morgan brennan is off todaytory shaking the ai world and reverberating all around the tech sphere we'll talk about sam altman's ouster from openai for now, microsoft's move to hire him to lead a new ai research team. we'll discuss what the changes mean for investors in microsoft, which hit record levels today,

. >> and i'm jon fortt at headquarters.hip to the cloud and retail. we'll get numbers from dell,

i'm morgan brennan back with jon fortt. >> glad to be back with you. ahead, the playbook.alk with janus henderson's adam hetts with

welcome to "closing bell" overtime i'm morgan brennan jon fortt is on assignment we've got full coveragee a technical look at the next key levels to watch when we're joined by piper sandler's technician craig johnson and rich weiss with american century we'll have his take on whether

i'm jon fortt. massive shakeup.mediately after the board says they no longer have confidence in his ability to lead microsoft taking a dip after that

i'm morgan brennan >> i'm jon fortt joining you from seattle, where microsoft is holding its ignite conferenceng you the highlights from my exclusive conversation with microsoft ceo satya nadella. >>> and a deep fivon

. >> i'm jon fortt in washington, d.c., today, coming up this hour, chips and trips.esults from nxp semi and trip adviser as we kick off another big week of earnings. >> plus, new burger berman president and chief investment officer jo amato joins us with one surprising area that could

i'm jon fortt with morgan brennan. >> the day watchers have been waiting for. minutes away from one of the most important moments of earnings season and a key read from the granddaddy of all bellwether stocks, we will have live analyst reaction and commentary from shareholders and industry experts. >> and if that isn't enoug

. >> welcome to "closing bell ove overtime" i'm morgan braen an and jon fortt is off today.ctivist campaign from peltz, we'll talk to disney ceo bob iger exclu as soon as the number hits and that is just a few moment away and they'l

i'm morngan brennan with jon fortt. >> a.i. driven gains gets ready to report earnings in moments.ck hitting fresh highs this week ahead of the print we have a great lineup of experts ready to parse the report. >> we'll talk with the ceo of $100 billion medical device company medtronic, getting a pop today on the back of results and easing some of the fears

i'm going to send it to morgan brennan and jon fortt in "overtime." >> what a day, what a week.for stocks of the year. that is the scorecard on wall street. the action is just getting started. welcome to "closing bell overtime." >>> coming up, keith rabois will talk to us about the setup for venture capital in this higher rate environment and the state of e-commerce through the lens his startup open store. >> we'll talk to the ceo of r redfin as that stock jumps 20% on the back of earnings. we'll get a take on the broker

jon fortt has more. >> the concession was people would kick the delivery habit and people would maker year, so did customer spending. despite signs of consumers running out of stream, doordash expects another strong quarter of growth with $17 billion worth of orders and record operating profit. this is not growth about u.s. restaurants. doordash is expanding into international markets, convenience and grocery. the non-restaurant business is more than 100,000 stores and doordash is operating in 27 countries outside the u.s. investors should think of it this way. doordash's superpower is high frequency delivery of lightweight items. doordash's combination of category expansion, operational discipline and product improvement is moving ahead of the pack. >> so, big question, what happens if consumers spending really takes a hit? isn't that door dash's whole business? it's discretionary. it's a discretionary business. >> well, on the other hand, doordash's growth is bound to hit a wall soon, though it's done a good job expanding. the core business is still restaurant delivery. that's high

i'm morgan brennan with jon fortt. >> we'll bring you the highlights and the exclusive interview with doordash co-founder and ceo tony

. >>> let's turn to the latest on openai jon fortt spoke with microsoft satya nadella last night he joinsf that conversation and anything, this is a fast-moving situation as well. >> it sure is, david openai still on the brink, and this is the company that defined ai in the popular imagination this year in 2023. that's important to public market investors because it helped microsoft claim the high ground in ai as part of what has the stock near all-time highs still, and openai created one of the main drivers of demand for ai compute, and that's what's driven nvidia to all-time highs. that company reporting after the bell in overtime today i asked satya nadella what to do about openai's governance, whether microsoft needs a seat on the board of openai here's what he said. >> at this point i think it's very, very clear that something has to change around the governance and if that's sort of -- we'll have a good dialog with their board on that and we'll, you know, walk through that as time evolves the most important thing for me, for consumers to know, is today we have all the capability, th

jon fortt is here to weigh in. >> the entire industry knows electric vehicles are the future. battle with united autoworkers. tesla stock is trading back above three quarters of a trillion dollars in market cap. there has been setbacks and overall slowdown in global demand hit electric vehicles in part because they're expensive and consumers are stretched. the price of gas has dropped, which takes the edge off ev demand. that hasn't changed the overall direction the very has been moving in, the transition from blackberries to iphones. autonomous vehicles, they're making steady progress, self-driving company mobilized the standout of the past year, up more than 40% since the first day of trade last october. tesla, which launches the cybertruck today, by the way, continues to push forward with its autonomous driving software. this week the company is pushing out a new version to employees that supposedly uses more advanced a.i. to make decisions. with innovation like that, autonomous and evs are just warming up. >> jon, not just gm that is pulling back on the new vehicle technol