Squawk Pod: 5 Things to Know Before the Opening Bell — November 21, 2025

Episode Overview

In this concise “Five Things to Know Before the Opening Bell” edition of Squawk Pod from CNBC, co-host Andrew Ross Sorkin delivers a brisk rundown of the top business news and market-moving stories set to shape the day. This daily segment distills critical headlines from the Squawk Box team, offering listeners must-know insights on M&A drama in media, chipmaker stock moves, venture capital surges, Formula One investment plays, and record-breaking moments in the art world—all before markets open.

Key Discussion Points & Insights

1. Bidding War for Warner Bros. Discovery

• Main Players: Netflix, Paramount, and Comcast (CNBC’s parent company) all submitted offers by yesterday’s deadline.
• Business Focus: Netflix and Comcast are targeting Warner Bros. Discovery’s studio and streaming businesses.
• Strategic Interests: David Ellison aims to combine Warner Bros. Discovery and Paramount, potentially forming an entertainment counterweight to rival tech giants.
• Immediate Climate: The competitive activity signals further consolidation in the streaming/media space.
• Quote:
  • “Netflix and our own parent company Comcast are said to want the company's studio and streaming businesses. David Ellison wants to combine the entire company with Paramount to create a counterweight to some of the tech giants.”
    — Andrew Ross Sorkin [00:53]

2. Nvidia’s Market Movement

• Stock Activity: Nvidia shares are falling in pre-market trading, down more than 6.5% for the week.
• Market Impact: Yesterday’s reversal contributed to a broader market sell-off.
• Industry Implications: Points to volatility in the sector and market sensitivity to chipmakers’ performance.
• Quote:
  • "We're watching shares of Nvidia this morning. This after yesterday's reversal contributed to what was a big market sell off."
    — Andrew Ross Sorkin [01:15]

3. Prediction Market Kalsi’s Fundraising Surge

• Latest Round: Kalsi raises $1 billion at an $11 billion valuation, per TechCrunch.
• Growth Trajectory: The new valuation comes less than two months after a previous funding round at just $5 billion.
• Sector Significance: Highlights investor enthusiasm for predictive analytics and market intelligence.
• Quote:
  • "Prediction market Kalsi has now raised $1 billion in its latest fundraising round at a valuation of $11 billion, according to TechCrunch."
    — Andrew Ross Sorkin [01:28]

4. CrowdStrike CEO Invests in Mercedes’ Formula One Team

• Stakeholder News: CrowdStrike’s CEO acquires a stake in Mercedes AMG Formula One.
• Valuation: The deal puts the Mercedes F1 team’s worth at $6 billion.
• Broader Trend: Illustrates growing tech industry interests in high-profile sports investments.
• Quote:
  • "The CEO of CrowdStrike has taken a stake in the Mercedes AMG Formula One team. The deal valuing the Mercedes team at $6 billion."
    — Andrew Ross Sorkin [01:43]

5. Frida Kahlo Painting Sets Auction Record

• Art Market Milestone: Kahlo’s 1940 self-portrait “The Dream. The Bed” sells for $54.7 million.
• Two Records Broken: Most ever paid for a female artist at auction and most valuable Latin American artwork ever.
• Context: The sold work surpasses her own previous record from 2021.
• Quote:
  • "A painting by a Mexican painter, Frida Kahlo, selling for $54.7 million, most ever for a female artist at auction... also becoming the world's priciest Latin American artwork."
    — Andrew Ross Sorkin [01:56]

Notable Quotes & Memorable Moments

• On Media Consolidation:
  "We're going to see how all of this pans out."
  — Andrew Ross Sorkin [00:58]

• On Frida Kahlo’s Legacy:
  "The dream also becoming the world's priciest Latin American artwork, topping the price of another of her portraits that was sold back in 2021. Pretty cool. It is."
  — Andrew Ross Sorkin [02:00]

Timestamps for Important Segments

• [00:53] — Bidding war for Warner Bros. Discovery
• [01:15] — Nvidia’s market moves and broader sell-off
• [01:28] — Kalsi’s $1B fundraising round
• [01:43] — CrowdStrike CEO buys stake in Mercedes F1 Team
• [01:56] — Frida Kahlo painting sets auction records

Tone & Style

The episode maintains the brisk, informative, and slightly conversational tone typical of CNBC’s Squawk Box, providing headline-driven updates with insightful context but little editorializing.

Summary Takeaway

This episode delivers a fast-paced, essential overview of the news that could shape market sentiment and headlines as the day begins—spanning media M&A, tech stock volatility, the rise of prediction markets, sports investments from tech leaders, and groundbreaking auction results in the art world. Perfect for listeners seeking an actionable, informed start to their trading day.