PPI Runs Hot, OpenAI Reveals New AI Model, Meme Craze Continues 05/14/24
Carl Quintanilla, Jim Cramer and David Faber started the show by discussing this morning\u2019s inflation data. The producer price index, a measure of what producers receive for the goods they produce, increased 0.5% in April and was up 2.2% on a 12-month basis, the biggest gain in a year. The anchors then shifted to the ongoing meme craze, as shares of GameStop and AMC surged again. Because of Monday\u2019s massive rally, short-selling hedge funds suffered a mark-to-market loss of $838 million in GameStop. Before the opening bell, the desk also reacted to OpenAI\u2019s latest flagship product GPT-4o, which the company says \u201ccan reason across text, audio, and video in real time.\u201d\n\nSquawk on the Street Disclaimer