Gold prices is up 1. 3 . It is currently 2,382. If you are watching bitcoin, it is pulling back a bit. Yesterday, bitcoin was above 72,000. It is 70,452 right now. Oil prices have been picking up steam as well. In the nmeantime, we talk about a. I. Every 20 minutes on this show . More frequently. It could be a drinking game. We will continue the game in a different way. Elon musk speaking out on x saying his guess is we will have a. I. That is smarter than any one human, probably, by the end of next year. He said within the next five years, the capabilities of a. I. Will exceed that of all humans. I dont know if that is com commentary on the intelligence of a. I. Or humans. Oh, burn. A year from now if it could be that smart that quickly, sam altman talked about chatgpt 4. 0 as a competent helper. They always do something that is a little wrong. The answer is not always exactly the way it is supposed to be. Ight. Are we a year away from the competent helper being a super competent human . If that is the case, if elon musk sees it as smarter than any human by the end of the year, competent helper will get a quick upgrade. I may have missed it. Five years smarter than anybody . Smarter than five years than all humans. Smarter than some humans or any human. If it is smarter than any one human, you will have a better and competent helper. It is possible. At the rate this stuff is going, i was playing with claude, and it is better. It can do stuff that is shocking. You know how you have the smartest iq person around . And not the most street smart . And they dont have eq . This is what will happen in the next year. We havent gotten to the point it can do multistep problems, but not a tenpart of things that have to happen at the same time. The emotional levels, too, being able to read people. I dont know. Maybe it is there. Maybe it is not. I think claude is better than most of the others on that stuff. People are using it we talked about this with the psychology and other things. Right. In a way that is different than chatgpt. Yeah. Okay. We have an update on the collapse of the Francis Scott key bridge. The process of removing containers has begun. That process will take weeks to remove the containers and tow the ship. The goal is to restore access to the port. It is a difficult process and dangerous. Former President Trump has lost an appeal to delay the criminal hush money trial. A judge denied the request to move the case to another court on the same day his attorneys filed it. Trump is charged with falsifying Business Records to conceal a payment to Stormy Daniels before the 2016 tpresident ial election. The case has not disappeared yet. The jury selection is set to begin next weekin new york. Take a look at this. Shares of trump media falling 8 in the session yesterday. Wiping out 2 billion of value. The company has a market cap of 5 billion despite generating 4. 1 million in revenue in the last year. We talked a lot with barry diller about the valuation of that. I think he had choice words about that. We will await becky who is drinking a bit of water at this early hour to catch up. Well talk basketball. I dont know if you stayed up last night. I watched the first half. Went to bed at halftime. It was a late game. This was really something to see. The first half was pretty close. Thats not what happened at the end. Uconn winning the mens ncaa championship. It becomes the first time to win backtoback since florida in 2006 and 2007. The huskies beating popponents y 23 points. Dominating the ncaa brackets. Purdues star zach edey scored the most points. Uconn had waves and waves of playe players who wore him down. That was the strategy that paid off. In the beginning, they had two big men playing on this. Edey is so dominant and able to score 20 points within the first minutes of the first half on this. Really, they exhausted him and uconn had the strategy. It is waves and waves. Amazing effort. Really something to see. In the meantime, record ratings for the womens tournament. South carolina and iowa drew 18. 7 million viewers. The most watched basketball game womens or mens college or pro since the World Cup Final between the United States and japan. When we come back, a lot more here on squawk box. Will talk about tesla. Shares rising after elon musk saying the robotaxi would be unveiled four months from now. Mark your calendar. I believe it is august 8th. We will talk to an analyst about all of that next and what it means. Lkbolater, Scott Gottlieb will ta aut cancer drugs showing improvements years ahead of the trials. Well coming right back. Announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. [alarm beeping] amelia, turn off alarm. Amelia, weather. 70 degrees and sunny today. Amelia, unlock the door. Im afraid i cant do that, jen. Why not . Did you forget something . My protein shake. The future isnt scary, not investing in it is. Youre so dramatic amelia. Bye jen. 100 innovative companies, one etf. Before investing, carefully read and consider Fund Investment objectives, risks, charges expenses and more prospectus at invesco. Com. The all new godaddy airo helps you get your Business Online in minutes with the power of ai. With a perfect name, a great logo, and a beautiful website. Just start with a domain, a few clicks, and youre in business. Make now the future at godaddy. Com airo my name is teresa barber. I was in the United States navy and i served overseas in the middle east and africa. Early on in my career i had a commander that taught our Suicide Prevention training on a friday afternoon and the very next day, he took his own life. 90 percent of suicide attempts involving a gun are fatal. You dont know how much somebody can hide whats going on in their head. Store your guns securely. Help stop suicide. After military service, you bring a lot back to civilian life. Leadership skills. Technical ability. And a drive to serve in new ways. Syracuse universitys Daniello Institute for veterans and military families has empowered more than 200,000 veterans to serve their communities and their careers. From professional certifications, to job training, to help navigating programs and services, we give veterans access to support from anywhere in the world. Welcome back. Tesla is settling a lawsuit over the auto pilot crash that killed an apple engineer in 2018. The ev maker filed to seal the terms from the public including compensation fees paid to the family. Tesla will avoid a trial around the tech nationalnology ahead o robotaxi launch in august. And Martin Eberhart said he is amazing in his words that tesla gets away with rolling out autonomous driving given the history of fatal accidents. His words on this. The stock was up 5 just on the idea that robotaxis are coming in august and that is something we will talk about right now. Joining us to discuss this is tom, the global auto analyst at rbc capital markets. Tom, thanks for coming in today. Good morning. This was big news as far as the market was concerned as far as the robotaxis having a date. It is not a surprise for investors who are long tesla stock. Certainly analysts with buy ratings on it. It is 60 of my valuation. Robotaxis, autonomies, fsd to some extent. Self driving. Assisted driving. Robotaxi is level four. Drives you completely. The idea that it is coming in august. Does that hinge on the valuation . Is this something that you could be a little flexible . That has been the knock before with the timeline is laid out and not met. Do you think the same thing with the valuation call . My valuation is based on a new target and discount that back and apply a multiple similar to fsd. If it is august 8th or next year robotaxis will not be mainstream for a long while. I do see why hes doing it. Hes trying to highlight the value this could bring. Its huge. When do you think it could rollout on the streets . We have a Robotaxi Service in San Francisco with waymo. I dont think it is in scale any time soon. The difference and im curious. There is a view among the community that the reason why the waymo and cruise products work is because they use live right now. You roll your eyes. This is the whole thing. It is a laser pointed in places and that gives you feedback about what is around you. Elon decided he wants this with cameras and without the radar. It is a different approach. As a result, there are some people who have a view that is not fully ready for primetime self driving. Thats the question. My question to you is do you believe the robotaxi version of tesla is solely on cameras or a shift in strt ategy . That is what fsd is based on. Could he pivot toward using light ar . Sure. He changed his mind before on things. That is in terms of getting things out on the street. It is depending on where we have the products. Is it geo . We heard mobilize which is building with vw and that uses light ar. It adds a layer of redundancy. It is fis not 100 necessary. You have to reengineer cities to make it work in the future. Reengineer cities how . Imagine the robotaxi in the champs elysees. You have it in london with certain types of vehicles or pedestrianareas are separated. Cities are going to change dramatically in the several years ago deck ades. There have been problems along the way as the former ceo and cofounder of tesla stated. You have gm rolling out their taxis with safety drivers now because of accidents. Grand scale, is it going to be safer eventually . Probably. You have people who cause accidents all the time, but the liability factor will weigh in on the manufacturers of the cars. That has been the real overhang of the difficulty. Bmw says as soon as it kills h humans, were finished. You still have to live within the Legal Framework and the outrage of the family that loses someone. What about the other people . I asked elon this question specifically which is what is the politically palatable number of people who will due in america because of the computer will malfunction . That is the fundamental question. If you believe 30,000 people die in a vehicle ever single year in america and i told you 5,000 people would die every year in america, but a computer would do it because it malfunctioned, would you say that is a good outcome or is that acceptable to you . I dont know. Its not clear. If you got the number from 30 or 20, i dont think that would be politically palatapalatable. We know 94 of accidents are caused by human error. That number wont go from 30,000 to 5,000. It will be smaller. Other cities happened with aviation. Tons of crashes early on. Trains. Over time thats the logical dr. Spock view. Logic doesnt prevail. When there are deep pockets behind it, thats what the lawyers will go after. For the family that loses, i understand the dr. Spock mentality. That is not how it plays out. We will get there eventually. Look at china they are moving full steam ahead with it. Thats the spockian view. When you have the centralized government. Well get there. The valuation call. You are looking for the price target at 298. Did you raise that from 297 . You raised it a dollar . I raised that a bit ago. Longterm prospects for the self driving for the robotaxis is the valuation. You have the street looking at deliveries that were a miss. How do you wrap up the immediate miss and the longterm promise . I do acknowledge the car business does matter. It is only 10 of the valuation. Another 10 is energy storage. Nobody is talking about that. Incr incr incredible opportunity. It you look at the delivery number. 307 k. The quarter before that, 485. There was the pull forward that happened because the model 3 expiring. The two issues in europe with the arson and the red sea issue. They delayed the model 3 on purpose because they were trying to get the highland out. China rebounded in march. They performed okay. The whole market softened. I need to look at these things with the model y refreshed. In the context of the perfect storm in q1, they did the fsd trial which could reignite demand. It is too early to freak out about this. Deliveries do matter for investors and retail stock. I acknowledge that. Lets not lose sight of the Bigger Picture which is autonomy and energy storage. Tom, thank you for joining us. Tom narayan. And later, we have the japan Prime Minister visiting the white house today. We will talk to our ambassador rahm emanuel coming up. Because when theres no limit to how far mobility can go, theres no limit to how far businesses can go. hi, im david, and i lost 92 pounds on golo. My life partner connie and i were in really rough shape businesses can go. Regarding our health. And our doctors told us that we needed to lose weight. I saw a golo commercial and i thought, we really need to try this. As the weeks went by, the weight came off. We learned to make healthy choices and be supportive of each other. Together, weve lost 170 pounds. Golo worked for us. Since losing weight on golo, im feeling grateful and hopeful about the future. energizing music welcome back to squawk box. Google looking to turn down the heat on the message board as tensions have been simmering over the war in gaza. The company planned to eliminate the virtual thumbs down. It will remove metrics to allow people to see how popular other posts have become. Employees are worried it would censor their freedom or turn the message board into the dull corporate tool. It is doing what it is intended to do. For us who use slack or teams, there is the icons you can do the up and down. It is the popularity contest on social media which has turned everything into. It is one thing at work. I hate it when it is done to kids and put in this thing. It is not nice at work, especially if you are looking at antibullying stuff. Thumbs down. You stink. If you put out your persp perspective, i dont know. You are asking for a lot of something. Right. As a workplace, do you want to be the one doing that . If you do it online, fine as adults. If you want to grade and rate everybody . Maybe not. When we come back, with congress back from break, the battle to approve new aid for ukraine gets back on track. We will take you live to roch rochester, new york, where one defense contractor is awaiting that funding bill. As we head to break, lets look at yesterdays s p 500 winners and losers. Announcer executive edge is sponsored by at t business. Next level moments need the next level network. sirens [due at target in 5 ] copy that. Make a hard left down the alley. Networks got you covered. [please confirm requesting backup. ] changing route. Go. Roadblock ahead. Back up, back up. Reverse reverse next level moments, were 30 seconds out. Need the next level network. [north corridor, hurry ] coming through or 3, lets go. The network more businesses choose. Transplant received. At t business. Good morning. Welcome back to squawk box. Were live from the Nasdaq Market site in times square. On this tuesday morning, you are seeing modest advances in the foo futures. Yesterday, tnasdaq was up. Lets talk about this. We will go to washington here. Congress is back in session this week and aid for ukraine is high on the legislative agenda. Emily wilkins joins us from rochester, new york, where a contractor is waiting the funding from the bill. Good morning. Reporter andrew, funding for ukraine and israel and bridge in baltimore and the surveillance measure on the agenda for congress as lawmakers are returning to d. C. Lets start with the big deadline. Congress is racing against the clock to pass the update to the fisa by the 14th. Attempts previously have been sidelined from lawmakers who want more transparency for consumers. Speaker mike johnson is working on the plan to pass billions for the funding for ukraine. Im here at the facility that would give the Tactical Communications radios for ukrainians. The funding is giving a majority of House Republicans on board. Mike johnson is looking at part of the aid alone, but we are not expecting the plan this week. Congress is going to also have to consider approving spending on the rebuild of the Francis Scott key bridge in baltimore. And in the senate, Chuck Schumer has a todo list on tiktok and kids safety online and cannabis banking. Before any of that, the senate is required to handle the house impeachment of mayorkas. We are expecting the senate to dismiss this quickly, but it will take time to get the procedures started. That will take time away from other issues. Andrew. Emily, thank you. For more on the legislative agenda, lets bring in julie graves. Help us handicap, if you could, julie grace. What is atop of the list and what will happen and not happen . Mike johnson is in for a rough week with fisa and National Security hawks. They will work through that this week to walk through that. They pulled the bill twice before. The leadership is trying to get that done. Ukraine funding is a big one. Leadership is hoping to unveil something and get something passed before memorial day. Mike johnson facing the biggest threat to the gavel. Marjorie Taylor Greene hasnt pulled the trigger on the vote to vacate. If this comes to the floor, conservatives could oust him. Could i throw something into the pot here given we have so many issues that are swirling . Tiktok, mcconnell, schumer. What the will happen . I think mcconnell coming out in favor of the tiktok bill puts pressure on schumer. Schumer is meeting with two today to discuss moving forward. There is a push for public hearings. Mcconnell push ramps things up to get things moving on the senate side. If were you to handicap it, are we banning tiktok before the election . There is still pushback. I talked to a number of senators who said with provisions and with change, they could see something happening. It will be interesting to see how it plays out. Can we talk about the bridge in baltimore . Im curious what your view is as weal as emilys . Th there is back channel of how they will pay for it and the Insurance Companies and if they get the private sector to pay for it or will the government pay for all of it . Reporter the house caucus came out and said we want to see what insurance will have and they want to see what other routes are for spending. At this point, President Biden made it clear when he visited baltimore last week that this is full steam ahead on funding. An