Squawk Pod: SpaceX’s first earnings, Janet Yellen, & Uber CEO - 08/05/26 | Audio Only

Summary

Janet Yellen discusses persistent US inflation, supply shocks from tariffs, energy, and AI, and the Fed's challenges under Kevin Warsh. Uber CEO Dara Khosrowshahi reports strong earnings, record free cash flow, and aggressive autonomous vehicle investments. CNBC's Morgan Brennan breaks down SpaceX's first quarterly report, highlighting AI compute ambitions, cash burn, and a lockup expiration. The episode also touches on an Iran deal and oil prices, and a Chipotle food safety issue.

• Janet Yellen sees a resilient economy but warns inflation could take years to subside due to rolling supply shocks including AI-driven semiconductor price rises.
• Uber beats on EPS and gross bookings, with CEO Khosrowshahi citing a strong consumer and record $10bn free cash flow, funding a $10bn AV investment.
• SpaceX reports 92% revenue growth but a larger loss; Musk and Shotwell bullish on Starlink and AI compute, but Wall Street focuses on cash burn.
• Morgan Brennan frames SpaceX as a 'show me story' amid negative free cash flow and a lockup expiration, but notes their track record.
• Oil prices dropped sharply after Treasury Secretary Bessent hinted at an Iran deal to reopen the Strait of Hormuz.
• A salmonella outbreak linked to jalapeños hit Chipotle, causing a 10% stock drop as the company pulled peppers from some locations.