: The long tail of the NBA’s shocking punishment of LA Clippers owner and former Microsoft CEO Steve Ballmer.  Podcaster Pablo Torre has been at the center of this story; he and Washington University’s Patrick Rishe discuss the latest reporting and the future options for the NBA. Rep. Greg Casar, the Texas Democrat who chairs the House progressive caucus, describes the need for legislation he’s introduced with Vermont Sen. Bernie Sanders to ban artificial superintelligence, when concerns are high about hacks by rogue agents. Plus, diesel prices hit a new high, global bonds remain vulnerable and Vice President JD Vance wants to Fed to cut interest rates. Pablo Torre & Patrick Rishe -17:17 Greg Casar - 30:50 In this episode: Pablo Torre, @PabloTorre Patrick Rishe, @PatrickRishe Rep. Greg Casar, (D-TX) @RepCasar Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Nvidia has officially agreed to buy open-source artificial intelligence platform Hugging Face for $12.9 billion, as the chipmaker and world’s most valuable company moves into a future beyond hardware. The CEOs of both companies, Nvidia’s Jensen Huang and Hugging Face’s Clement Delangue, join exclusively to discuss the terms of the courtship and the deal – and the future of artificial intelligence’s open source commitment. Plus, the NBA suspends Clippers’ owner Steve Ballmer for violating terms of the league’s salary cap in signing Kawhi Leonard. And, New York City schools ban AI from elementary school classrooms Jensen Huang and Clement Delangue - 13:32 In this episode: Jensen Huang, @JensenHuang Clement Delangue, @ClementDelangue Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Berkshire Hathaway’s new CEO Greg Abel is in Tokyo, where he’s discussing the firm’s stakes in Japanese trading houses. Abel also discusses Berkshire’s Alphabet stake, a portfolio shift spearheaded by Warren Buffett. Then, U.S. Commerce Secretary Howard Lutnick joins the show from the G20 in North Carolina. Ahead of a fireside chat with Nvidia’s Jensen Huang and OpenAI’s Sam Altman, Sec. Lutnick discusses the data center boom, semiconductor tariffs, American competitiveness, and his own perspective on the collapse of trade talks with Canada. Greg Abel - 5:19 Sec. Howard Lutnick - 30:50 In this episode: Howard Lutnick, @howardlutnick Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Anthropic has secured a $35 billion deal with Nvidia-backed Lambda for a Texas data center, and today Apple welcomes its new CEO John Ternus, after Tim Cook’s 15 years on the job. NYC Mayor Zohran Mamdani has assembled a 15-person business advisory council to bridge his office with Wall Street. One councilmember, RXR CEO Scott Rechler, discusses why he agreed to participate, despite initial uncertainty about the Mayor’s plans for New York. Plus, pioneer of index-fund investing David Booth has written a book on his investing philosophy: “Stay Calm: Learn to Embrace Uncertainty in Investing and Life.” The legendary investor shares his perspective on investing and his faith in human ingenuity through any market cycle. In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Scott Rechler, @scottrechler Katie Kramer, @Kramer_Katie David Booth - 18:51 Scott Rechler - 31:49

In the first attack since July, the U.S. struck Iran at Larak Island. CNBC’s Dan Murphy reports on the latest exchanges from Dubai. OpenAI will end access to Cursor after SpaceX’s acquisition of the AI startup. At the G20 in Asheville, North Carolina, former U.S. Treasury official Joe LaVorgna explains his optimism about America’s economic trajectory and weighs in on both the Treasury’s bond buyback plan and Kevin Warsh’s next interest rate announcement. Plus, Fandango and Rotten Tomatoes correspondent Erik Davis discusses the busy summer movie season and the five impressive weeks at the box office for "Spider-Man: Brand New Day." Dan Murphy - 03:21 Joe LaVorgna - 15:47 Erik Davis - 28:39 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Dan Murphy, @dan_murphy Katie Kramer, @Kramer_Katie

After reporting a strong Q4, Affirm’s stock surged. Affirm CEO Max Levchin discusses his view of the consumer and the economy, from his position in buy-now, pay-later platform that also offers credit cards. Meta reached an $18 billion multi-state settlement in its social media addiction trial, as CNBC’s Julia Boorstin reports, and a judge ruled in favor of Anthropic, finding that the Pentagon took illegal action in categorizing the company as a supply chain risk. The Information CEO and Editor-in-Chief Jessica Lessin discusses both tech headlines, as well as reports of an Anthropic IPO in October. Plus, President Trump has issued changes to the U.S. hog and poultry processing system. Max Levchin - 13:30 Julia Boorstin - 25:46 Jessica Lessin - 29:47 In this episode: Jessica Lessin, @jessicalessin Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Julia Boorstin, @JBoorstin Cameron Costa, @CameronCostaNY

Nvidia reported a blowout quarter, issuing optimistic revenue guidance that’s pushing the stock higher. CNBC’s Kristina Partsinevelos discusses CEO Jensen Huang’s comments after the report and the response on Wall Street. Senator Dave Mccormick (R-PA) discusses inflationary pressures on Americans in his own state, particularly in the context of the ongoing war in Iran. Ahead of the midterms, Sen. McCormick discusses the future of Democrats, Republicans, and bipartisanship. Amid summer travel, CEO of Chase Travel Jason Wynn sees Americans sticking to their vacationing plans despite cost pressures. He calls it an “E-shaped economy.” Kristina Partinevelos - 02:41 Sen. Dave McCormick - 15:53 Jason Wynn - 34:44 In this episode: Dave McCormick, @SenMcCormickPA Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Kristina Partsinevelos, @KristinaParts Cameron Costa, @CameronCostaNY

Labor Secretary under President Clinton Robert Reich discusses the tariffs between the U.S. and Canada and AI’s impact on the workforce, as well as wealth taxes, the rise of populism in the U.S., and the K-shaped economy that he says is driving them both. One of the largest hurdles for AI and the data center race is power. Emerald AI CEO Varun Sivaram has built a solution in flexible power sourcing to ease strain on the grid, and backers like Samsung, Nvidia, and Salesforce have bet on his success. Plus, Bill Gates has issued a lengthy warning on AI, Stanley Druckenmiller has used AI in a Wall Street Journal Opinion piece, and OpenAI says goodbye to more top tech talent. Robert Reich 20:40 Varun Sivaram 39:20 In this episode: Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Legendary investor Stanley Druckenmiller has penned a sharp op-ed criticizing Treasury Secretary Scott Bessent’s new bond buyback strategy. In “Operation Economic Outcast,” President Trump is attempting to pressure Iran by way of its trading partners. CNBC’s Eunice Yoon explains China’s role in the strategy and in Iran’s oil economy. After U.S.-Canada trade talks collapsed, tariffs set in on some Canadian exports to the U.S. Canadian Minister responsible for Canada-U.S. Trade Dominic LeBlanc shares his country’s side of the negotiations. Plus, the Pentagon’s Chief Technology Officer Emil Michael discusses the Department of Defense’s multibillion dollar bet on drones. Eunice Yoon - 06:05 Dominic LeBlanc - 23:14 Emil Michael - 35:42 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Eunice Yoon, @onlyyoontv Cameron Costa, @CameronCostaNY

After the U.S. treasury yields surged to levels not seen in nearly 20 years, U.S. Treasury Secretary Scott Bessent announced that the Treasury would double the size of its government debt repurchases. Treasury Department officials tell CNBC’s Steve Liesman that the plan could be funded by the Treasury’s General Account Fund, or its “rainy day” fund. Trade talks between the U.S. and Canada have collapsed, bringing 50% tariffs into effect on $20 billion worth of Canadian goods coming over the border. U.S. Trade Representative Jamieson Greer explains his own perspective on the negotiations. Nvidia is reportedly considering investing in AI startup Perplexity. Sprout CEO Shelly Li built her company to recycle, refurbish, remarket, and retire GPUs and data centers. Li explains the lifecycle of AI hardware from hyperscalers and the residual value of old chips and underscores power as the biggest constraint in the tech ecosystem. Megan Cassella - 05:34 Steve Liesman - 13:39 Jamieson Greer - 22:55 Shelly Li - 39:03 In this episode: Amb. Jamieson Greer, @USTradeRep Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Megan Cassella, @mmcassella Steve Liesman, @steveliesman Cameron Costa, @CameronCostaNY