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This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Thursday. Breaking news this morning: Nvidia has agreed to buy open-source artificial intelligence platform Hugging Face for nearly $13 billion. Stock futures are mixed this morning after a winning day on Wall Street. Here are five key things investors need to know to start the trading day: 1. Summit up The G20 wrapped up its two-day Innovation Ministerial yesterday, where technology leaders and government representatives talked artificial intelligence, data centers and tariffs. Here are some of the biggest headlines out of the gathering: - Nvidia CEO Jensen Huang said that AI will "democratize intelligence" for G20 countries and called the technology "the great equalizer." - OpenAI CEO Sam Altman, meanwhile, said using AI is a "non-negotiable" for countries, comparing the adoption of AI to the adoption of electricity. - Palantir CEO Alex Karp acknowledged that there are "huge dangers" to the technology but pushed back on what he called the "doom message" around AI. He appeared to allude to Anthropic and its CEO, who have warned about the technology's risks. - On the data center front, Anthropic co-founder Tom Brown said he "really loved" President Donald Trump's Monday Truth Social post, in which the president said communities who opposed data centers "want to end up being backwards and poor." - Commerce Secretary Howard Lutnick said that data centers will "bring prosperity" and are "getting a bad rap." He also downplayed the facilities' water consumption. - Catch up on all the biggest moments here. 2. Bond, John Bond After hitting its highest level since 2023, the 10-year U.S. Treasury yield pulled back in Wednesday's session, providing relief for other corners of the market. New York Federal Reserve President John Williams told CNBC yesterday that the recent yield jumps should be seen as a sign of a strong economy rather than as market dysfunction. Williams also said he would have to "wait and see" before deciding whether an interest rate hike would be necessary to calm inflation. The three major averages snapped three-day losing streaks yesterday. Follow live market updates here. 3. Snow forecast Snowflake soared 24% in extended trading after the company raced past analysts' second-quarter estimates, pointing to growth in its AI coding business. If that gain holds into Thursday's session, Snowflake could see one of its best days on record. Don't miss CEO Sridhar Ramaswamy on CNBC's "Squawk on the Street" at 10 a.m. ET today. Watch live on CNBC or CNBC+. Meanwhile, Broadcom exceeded Wall Street's forecasts on both lines in the fiscal third quarter and gave better-than-expected guidance for the 2027 fiscal year. However, the company said to anticipate slightly lower revenue than analysts had penciled in for the current quarter. Shares are more than 3% lower before the bell. 4. Funding risks The Department of Justice said in a legal opinion this week that states must report undocumented immigrants to the Department of Homeland Security or risk losing federal funding for programs focused on helping low-income people. As CNBC's Dan Mangan notes, the opinion revises a prior opinion from 1998 which found that only certain states administering the programs — Temporary Assistance for Needy Families and Supplemental Security Income — had to give information to federal immigration authorities. Assistant Attorney General T. Elliot Gaiser said in a statement that states participating in the temporary assistance program have "the obligation to report illegal aliens" in the U.S. "Tax dollars intended to help vulnerable Americans should not perversely encourage illegal entry into the United States," Gaiser added. 5. Pickup in production Production of Ford's so-called "Super Duty" trucks hit 20-year highs last month. The automaker said it made more than 39,000 units of the highly profitable vehicle in August, its highest level of production since March 2006. Ford also said that its F-150 pickup trucks saw their highest production in two years. As CNBC's Michael Wayland reports, the rebound comes after fires at an aluminum supplier significantly disrupted production of Ford's F-Series trucks. Rob Kaffl, Ford's head of U.S. sales, said the increase in production will start to show up on dealership lots in the "next 30, 60, 90 days." "Our gross availability of products coming in, I would say, is returning back to normalcy – the normal levels our dealers would have," he said. The Daily Dividend The jobs expected to see the most growth over the next decade might surprise you. Here are the top five: — CNBC's Ari Levy, Chris Eudaily, Samantha Subin, CJ Haddad, Kevin Breuninger, Sean Conlon, Jeff Cox, Jordan Novet, Dan Mangan, Michael Wayland, Sarah Jackson and Gabriel Cortes contributed to this report. Luke Fountain assisted in the production of this newsletter. Josephine Rozzelle edited this edition.
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