In short
Squawk Pod Episode Summary: 5 Things to Know Before the Opening Bell (8/13/2025)
Podcast Overview Podcast Title: Squawk Pod Description: A daily curation of the top moments and takeaways from CNBC’s flagship morning show, “Squawk Box”. The show features news-making interviews, perspectives from guest hosts, and discussions, all with insights provided by Senior Producer Katie Kramer.
Episode Details Episode Title: 5 Things to Know Before the Opening Bell Air Date: August 13, 2025 Hosts: Joe Kernen, Becky Quick, Andrew Ross Sorkin
Key Takeaways
- Export Taxes on Chipmakers
- Context: The White House is finalizing details on President Trump's proposed 15% export tax on semiconductor companies, specifically targeting NVIDIA and AMD for exports to China.
- Future Implications: Similar measures may extend to other companies, indicating a shift in trade policy.
- OpenAI's New Venture
- Announcement: Sam Altman, CEO of OpenAI, is reportedly backing a new company named Merge Labs.
- Market Position: This company is being set up to compete with Elon Musk's Neuralink and has a valuation of $850 million.
- Pfizer's COVID-19 Vaccine Review
- FDA Consideration: The FDA is contemplating revoking the authorization of Pfizer's COVID-19 vaccine for healthy children under five years old.
- Alternatives: Other vaccines from Moderna and Novavax are still authorized for more limited populations.
- Circle's Stock Offering
- Market Performance: Shares of Circle increased by 1.3% following a reported 53% rise in revenue.
- New Offering: Subsequently, Circle announced a new stock offering of 10 million shares, putting pressure on its stock as 2 million will be offered by the company and 8 million by shareholders.
- Trump-Putin Summit in Alaska
- Meeting Details: Preparations are underway for the upcoming summit between President Trump and Russian President Vladimir Putin.
- Location: The meeting will take place at Joint Base Elmendorf-Richardson in Anchorage, Alaska.
Conclusion Stay tuned for more updates and discussions on these topics in the next edition of Squawk Pod, which will feature further insights from "Squawk Box".
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Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:01Hi, I'm Andrew Ross Sorkin, co-host of Squawk Box, and this is five things to know before today's opening bell. The White House saying the Commerce Department still working out the legal details of President Trump's plan to charge 15 percent export taxes on NVIDIA and AMD for sending certain semiconductors to China. The White House press secretary is saying that similar arrangements could be applied to other companies in the future. The Financial Times reports that OpenAI CEO Sam Altman getting ready to back a company that will compete with Elon Musk's Neuralink. The FT says the company is called Merge Labs and is raising money at$850 million valuations.
0:40I should say a valuation. And the FDA considering revoking its authorization of Pfizer's COVID-19 vaccine for healthy children under the age of five. Vaccines from Moderna and Novavax are cleared for more limited populations. And shares of Circle closing higher by 1.3 % yesterday. That after the company reported a 53 percent increase in revenue. But after the closing bell, the company announced a new stock offering of 10 million shares. The stock now under pressure as a result this morning. Two million of those shares will be offered by Circle. The remaining eight million will be sold by stockholders.
1:18And details emerging on the upcoming meeting in Alaska between President Trump and Russian President Vladimir Putin. A White House official telling NBC News that the Friday sit-down will take place at Joint Base Eldemdorf-Richardson in Anchorage. So we're going to keep our eyes, of course, on that. We're going to be back later today with an all-new Squawk Pod, our daily podcast featuring the best of Squawk Box. Check it out wherever you get your podcasts and listen anytime.
From the publisher
The 5 things you need to know before the stock market opens today: the White House is still working out the details of President Trump’s plan to charge 15% export taxes on chipmakers’ business in China, OpenAI’s Sam Altman is working on a Neuralink competitor, the FDA is considering revoking authorization for Pfizer's Covid-19 vaccine for healthy children under age 5, Circle announced a new stock offering and a U.S. base in Anchorage is preparing to host the upcoming Trump-Putin Alaska summit.
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