Squawk Pod: Musk’s Mega-Merger, Disney’s New CEO & Patriots CEO Robert Kraft

Date: February 3, 2026
Hosts: Joe Kernen, Becky Quick, Andrew Ross Sorkin
Special Guests: Robert Kraft, Julia Boorstin, Emily Wilkins

Overview

This episode dives into three headline stories:

1. Elon Musk’s historic mega-merger—SpaceX’s acquisition of X.ai—aimed at creating a vertically integrated space-based AI powerhouse.
2. The leadership handover at Disney, with Josh D’Amaro tapped to succeed Bob Iger as CEO, and Dana Walden elevated to President & Chief Creative Officer.
3. New England Patriots owner Robert Kraft on his Super Bowl run and his campaign against antisemitism with the Blue Square Alliance.

The episode is rich with expert analysis, candid interviews, and thoughtful debate on implications for business, technology, and society.

1. Musk’s Mega-Merger: SpaceX Buys X.ai

Segment Begins: 02:41

Key Points:

• Deal Details:

  • SpaceX (valued at $1 trillion) is acquiring X.ai (valued at $250 billion)—both private Elon Musk companies.
  • This is the largest private M&A deal in history.
  • Musk’s stated goal: Form “the most ambitious vertically integrated innovation engine on and off Earth,” combining AI, rockets, space-based internet, and social media (via X/Twitter).

• Strategic Rationale:

  • Musk envisions the next leap in AI coming from space-based data centers, leveraging solar power and natural cooling to drastically cut operating costs.
  • A recent FCC filing lays out a plan to launch up to 1 million satellites.

• Panel Analysis:

  • Andrew Ross Sorkin: Emphasizes the advantage (“no cooling needed, automatic power, networking at scale”), while raising antitrust and neutrality issues if only Musk and Jeff Bezos dominate space-based data centers.

    “It’s a game changer... but the question is whether you need to own the model [like X.ai] or just the infrastructure.” (07:07)

  • Joe Kernan: Compares Musk to “Ben Franklin and Thomas Edison… all rolled up into one.” (02:07)
  • Becky Quick: Points out the immense capital needs driving the push for an IPO. (04:31)

• Antitrust & Industry Power:

  • Questions arise about the future of competition and access if Musk’s network becomes essential infrastructure.
  • Should data centers in space be “Switzerland”—neutral and open to all AI players?
  • Implications for rivals like Anthropic if Musk controls both infrastructure and the models.

• Role of X/Twitter:

  • The value of Twitter is reconsidered, given its function as a “good data hose” for AI training.
  • Joe notes Musk might have been “three or four chess moves ahead,” now justifying the hefty price he paid for Twitter when tying it into the AI narrative. (08:32)

Notable Quotes

• Andrew Ross Sorkin (04:31):

  “If you want to get to AGI… you need the power to do it and the cost is so much lower [in space]…”

• Joe Kernan (02:07 / 05:56):

  “He’s like Ben Franklin and Thomas Edison and all these people all rolled up into one.” “Did you ever think you’d see a private company at a one and a quarter trillion dollars valuation?”

2. Robert Kraft: Patriots’ Super Bowl & Combating Hate

Segment Begins: 15:26

Key Points:

• Super Bowl Ad and Blue Square Alliance:

  • Kraft launches a Super Bowl ad through the Blue Square Alliance to combat rising antisemitism and hate in America.
  • Ad aims for broad awareness, especially among youth and the general public who may be unaware of the scale of the problem.
  • The campaign is described as “not new” but now doubled down with data-driven education and community outreach.

• Rise in Antisemitic Incidents:

  • Becky Quick cites statistics: a 900% jump over 10 years, with 45% of Americans unaware of this rise.

• Kraft’s Mission:

  • Focused on education and unity:

    “You’re not born with hate. It’s learned and we have to find ways to push back on it.” (16:32)

  • Kraft stresses cross-community, team-based approaches, “like what you see in football,” to bring people together.

• Blue Square as a Symbol:

  • Hopes the Blue Square becomes a widely recognized sign of unity and love rather than hatred or division.

• Patriots’ Football Turnaround:

  • Kraft spent nearly half a billion dollars to revamp the Patriots, resulting in a return to the Super Bowl.
  • Discusses the investment in free agents, coaching, and infrastructure, crediting teamwork and community spirit.
  • On dynasty renewal:

    “You have to go year to year… But when you have a group of younger new people and you see their attitude… that’s what I love about the country.” (21:48)

Notable Quotes

• Robert Kraft (16:32):

  “Look, I love this country, and I’m really worried with the divisiveness and the hate that’s going on... That’s not what this country’s about.”

• Becky Quick (21:35):

  “Do you think you’re building a new dynasty here?”

• Robert Kraft (23:30):

  “My hope and dream is this blue square. It’s a symbol of unity… If people will just wear this blue square... and just think about love, not hate.”

3. Disney Succession: Josh D’Amaro Succeeds Bob Iger

Segment Begins: 29:12 / 30:40

Key Points:

• Breaking News:

  • Josh D’Amaro, current head of Disney Experiences (theme parks/cruises), is named CEO effective March 18, 2026.
  • Dana Walden elevated to President & Chief Creative Officer.

• Rationale & Implications:

  • D’Amaro leads Disney’s largest division, $36 billion in 2025 revenue and 185,000 employees.
  • Succession handled by Chairman James Gorman, who sought a smooth, strategic transition.
  • Parks and experiences now contribute about two-thirds of operating income—emphasizing shift away from content alone to live and immersive experiences.
  • Increasing importance of global expansion (notably Abu Dhabi and big partnerships, e.g., Epic Games).

• Industry Significance:

  • The move signals Disney’s commitment to investing in physical and virtual experiences.
  • Julia Boorstin points out Walden’s role in shepherding Disney’s creative content/IP, now integrated more deeply with operational leadership.

Notable Quotes

• Julia Boorstin (29:12, 34:45):

  “The parks are already about two thirds of the company’s operating income… the IP is generated from the entertainment division and then monetized at the Experiences Division.”

• Bob Iger’s statement (paraphrased, 32:43):

  “Josh D’Amaro is an exceptional leader… the right person to become the CEO. He has an instinctive appreciation of the Disney brand, [and a] deep understanding of what resonates with our audiences.”

4. Government Shutdown & Political Developments

Segment Begins: 10:30

Key Points:

• A possible end to the ongoing government shutdown, with bipartisan support building after lobbying from President Trump.
• Some immediate impacts—Friday’s job report will be delayed.
• Emily Wilkins highlights exhaustion in Congress and a rare sense of urgency/optimism to prevent prolonged shutdown.

Notable Quotes

• President Trump’s statement (via Emily Wilkins, 10:36):

  “We cannot have another long, pointless and destructive shutdown that will hurt our country so badly.”

Memorable Moments & Commentary

• On Musk’s Approach:

  “Obviously he was about three or four chess moves, 3D chess moves ahead of everybody.” – Joe Kernan (08:51)

• On the Future of AI Infrastructure:

  “…An interesting antitrust issue way ahead of time… you’d want these data centers to be Switzerland up there so that anyone could use them.”—Producer/Tech Director (07:10)

• On Sports, America, and Unity:

  “[Football] does so much for the community and brings people together in such a unique way.” – Robert Kraft (01:20, 20:14)

• On Disney’s Future:

  “The good news is that both of them (D’Amaro and Walden) are staying…” – Producer/Tech Director (32:12)

Timestamps for Key Segments

• Musk’s Mega-Merger - SpaceX & X.ai: 02:41 – 09:39
• Government Shutdown Coverage: 10:30 – 13:02
• Robert Kraft/Blue Square Alliance Interview: 15:26 – 28:39
• Disney CEO Transition Analysis: 29:12 – 35:52

Summary Takeaway

This episode is a tour de force across business, tech, sports, and social activism—a must-listen for anyone tracking the intersection of innovation, leadership, and social responsibility in today’s America. Impressive insight into Musk’s ever-expanding ambitions, a real-time look at a generational CEO handoff at Disney, and Robert Kraft’s impassioned call for unity together mark a pivotal morning in news.