this time, intel's ceo, pat gelsinger, will be part of the discussion.s that his company, in fact, is receiving from the u.s., plus what commerce secretary raimondo told jim about the chips act. we're going to be trading here in about 17 minutes. you can see a mixed bag. the nasdaq may be up, but the s&p, perhaps, down ait we're back in minutes. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. >>> welcome back. we're going to stay with the chip sector. a.i., an important component of that as well. the white house announces that intel has been awarded up to $8.5 billion in funded from the chips act, could receive an additional $11 billion. the funding would benefit intel's plans to build chip fabs in four different states. you're going to want to hear what intel's ceo, pat gelsinger, has to say about it all. that will be later this hour. >>> first, though, take a listen to wh

pat gelsinger, brad berstner and more coming up. don't go away. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients' portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. here you go. is there anyway to get a better price on this? have you checked singlecare? whenever my customers ask how to get a better price on their meds, i always tell them about singlecare. it's a free app. accepted at major pharmacies nationwi

pat gelsinger promised one will come online next year. talking a.i. play, right now. they're known for the cpus and other things in our electronics. it's not an a.i. play right now. it's geared to nvidia, amd launching its own gpu, marvell, broadcom. intel is going to be the guy that makes those chips for the other players. that's how they're going to play into this whole a.i. ecosystem but it will not be immediate. >> getting $8.5 billion. shares are slightly in the red. a lot was priced in. kristina partsinevelos, great to see you as always. >>> we'll hear more from pat gelsinger with our jon fortt at 4:00 p.m. eastern. steve, you own intel. what do you make of this news, about $8.5 through the chips act? >> i thought there would have been a slight uptick. if i gave you $8 billion, you would be popular. >> it was higher in the premarket. >> i know and then it sold off. this is a market just waiting on the fed. this was news despite the hiccup with the department of defense. nothing new here. i own intel because of the foundry business, they will be having pretty goo

we have more of my interview i with intel ceo pat gelsinger in about 20 minutes. you've got to hear what he says specifically about the money that he got from the government yesterday. and the chips act a. now to recap, reddit soaring in its first day of trading on the new york stock exchange. the social media stock ticking under the ticker symbol rddt, chip maker micron hitting a record high amid soaring demand for its a.i. hardware, and markets, yeah, right now at all-time records. the dow, s&p and nasdaq, any gain will get it at a record at the close. >>> all right, just 24 hours after the biden administration rolled out new tailpipe rules to push car buyers to hybrids and evs, infiniti goes the opposite direction. so what we're going to do is go out to fox square to unveil infiniti's new flagship suv, an internal combustion beast of a vehicle. we'll show you the coolest features and find out their strategy for selling it to americans. ♪ ♪ ♪ this is not just another e-class. because it evolves with you. it adapts to you. engineering. it is the first e-class mad

pat gelsinger is going to have much more on his company securing that c.h.i.p.s.ct funding in our first cnbc interview with jon fortt at 9:30 a.m. eastern and again at 4:00 p.m. at "closing bell: overtime." don't want to miss that. >>> time now to turn back to the markets. we're going to be joined by the chief global strategist. seema, good morning. always good to see you. >> good morning. >> no decision expected operates, but a lot expected on the jay powell meeting. what was it mean when it comes to the tone and how they see rate cuts going forward? >> sure. this is a pivotal meeting. what we're anticipating is the dot plot still holds the forecast. you need two lenders to raise the forecast. i think there's an easy way of saying you're going to see a more hawkish fed coming out today. that's why i think it's so pivotal. it's raisinging some doubts how quick will u they can get inflation back to target. that will be the key they're watching out for from powell and the press conference. it's going to be, as i said, very important for markets today and what comes

but shares are down 30% since ceo pat gelsinger took the help three years ago.urn around. >> we have taken our investors on a journey. we said very clearly this is five years to turn the company around. three years into that journey, and now we see the light at the end of the tunnel. we hope to manufacture the most advanced ai chips for nvidia, apple, amd, amazon and google. we want all of those chips to be manufactured in america, taking advantage of the rnd that's done here uniquely in america, as well. >> and you can watch more of the interview with pat gelsinger on "closing bell" today at 4:00 p.m. eastern time. >>> still ahead, it's one of the biggest stock splits in new york stock exchange history. chipotle shares reaching $3,000 apiece for the first time on news the board approved a 50-to-1 stock split. the timingndha a wt history reveals about returns, next. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the ip

plants known as fabs projected to host 3,000 manufacturing jobs intel's ceo, pat gelsinger, says theovernment investment is essential to competing with china >> it isn't just a question of our national security. it's every aspect of our economy, as well, and these are great jobs >> reporter: the owner of chandler restaurant gadzook's, aaron poole, welcomes the investment and the foot traffic it could mean after people were working from home for years. >> in a fab shop, you actually have to go in to work. >> reporter: and he hopes out for lunch. poole says business owners like him are in a paradox. >> well, now we're at a point where you can't raise prices anymore. the consumer won't allow it. >> reporter: but he says he has no choice but to raise wages 19-year-old cashier talia brings home $1,300 every two weeks. >> it's good that you get paid more, i guess, but then at the end of the day, it's like everything is so expensive, it's like you're not really getting much out of it. >> reporter: affordability top of mind here in maricopa county over the past four years, home prices up 53%

ed: pat gelsinger was honest with us last night that the semiconductor industry in this country over 30 years went elsewhere -- elsewhere. therefore it's not to happen overnight bringing it back. walker audience through the footprint of what they're trying to do. arizona and ohio are the focus. the 20 billion actually goes a long way to getting things built. ian: it does and it doesn't. for a lot of these plants 20 billion will just about cover it. it's not actually building the factory it's the money you give to apply materials. it's a massive amount of public money. as you reminded us, it's not as much as i want. this balances the economics, it makes investing in a u.s. facility equivalent to doing it in taiwan or south korea. this is not a free pass, it is not a 10 year extension of intel to do what they want. it's considerable help but we will need more money if we want to create that basis. caroline: the real gem of the chip ecosystem in the u.s. has still been going out there discussing its future plans, its vision for an ai focused reality. what are we learning from nvidia. ia

i'll be speaking with ceo pat gelsinger to discuss the future the semiconductor supply chain in america and the big, hopefully for them, the big chunk of money that they could get from the chips act. >>> all right, let me give you a fact. led by nvidia, microsoft and apple, the largest 10 stocks now represent 25% of the s&p 500 fact: that is a record. should investors continue to hitch their portfolio wagons to those stars, or do you get the shovels out and dig into way less loved stocks? let's head right to the floor show. joining me now, crossmark global investments' ceo bob doll. this is a tough one, bob, because if a year and a half ago after these same names enjoyed extraordinary runup, which they did, investors if they had thought, you know, let me move if on, they would have missed out on more gains. is now the time though to pick up the shovel somewhat signs are you seeing? >> liz, i don't think it's either/or. i think it's both/and. you've got to have in your portfolio things beyond these 10 stocks, but i don't think you run from the 10. they're nowhere near as expensive as the

and the ceo of intel, pat gelsinger, will join liz claman laterren to -- later on today.ke a look at bitcoin. it was $73,800 last week. now it's 63,2. how much value was stripped out of the cryptos? lauren: $400 billion in about a week's time. so bitcoin is volatile, we always say that. on the upside but clearly on the downside too. i was speaking to a couple of bitcoin enthusiasts about these to moves. i mean p at one point bitcoin was down 15% in a few days and they said, look, it's usually 30. 15% is a drop in the bucket. one, anthony pompliano called bitcoin a lifeboat that you need to have in your portfolio. and others are saying, look, you have the fed overhang right now. no one knows what the fed is going to do, how they react to inflation, so risk assets are down today. stuart: $63,000 on bitcoin as we speak. all right. apple's chief executive, that's tim cook, he is in china. why is he in china? lauren: because they're opening new apple stores there tomorrow. there are reports that the iphone sales are down in china by 24% in the first six weeks of the year, so i

we'll have an interview with pat gelsinger at 9:30 and again at "closing bell" at 4:00. >> intel is expected- at least the administration says expect it to spend $100 billion of its own money investing in these things over the next five years. $20 billion a year, that's pretty significant. that's what you see from an at&t, verizon, on an annualized basis. >> if it always worked and you hired 30,000 people and everything works the way it should, it seems like it's a no-brainer and it should always work, but then you start wondering. you look at when the government picks winners and losers. you hope you get the best use of capital that you have, and a lot of times the government is all -- you know, when we look back on the ev era and obviously we're moving to that, was it too fast? did we blow money too quickly? when the government tries to do things, usually they're not very good at it. >> you look at something like the interstate highway program and there were probably arguments, right? >> college bill after world war ii. >> you're right. >> why do we -- >> you look at -- >> why are there th

what do we hear from pat gelsinger? how restrictive is it?will start to get some answers. >> all right. keep us updated. i'm optimistic. how is that? >> you sound that. megan, thank you. >>> when we come back, an update on the supreme court case concerning social media censorship of the government. >>> we will talk to marc lore. the entrepreneur behind diapers.com and sold to jets. his new venture is wonder. it ia s big investing round. we'll have him here to talk about it. "squawk box" will be right back. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com [busy street sounds] ♪(tosca, act ii: vissi d'arte)♪ ♪(artist: maria callas)♪ ♪(orchestra del teatro alla scala, milano)♪ ♪♪ hey, i'm at gate 6 wearing a gray shirt. i'll pick you up in 2 minutes.