Musk's $1 trillion pay, a price cut for obesity drugs, Target's in-store woes and more in Morning Squawk

Group 1: Tesla and Elon Musk - Tesla shareholders approved CEO Elon Musk's nearly $1 trillion pay plan with 75% voting in support, granting Musk 12 tranches of shares based on company milestones over the next decade and increasing his ownership from 13% to 25% [2] - One of the milestones includes the delivery of 1 million Optimus humanoid robots, which Musk claims will "eliminate poverty" and be "bigger than cell phones" [3] Group 2: AI Market Concerns - Stocks resumed their sell-off as traders expressed concerns over elevated valuations of artificial intelligence stocks, with major companies like Nvidia, Advanced Micro Devices, and Microsoft seeing declines [4][6] - OpenAI expects to generate over $20 billion in annualized revenue this year, aiming for hundreds of billions by 2030, despite investor uncertainty regarding funding for its infrastructure commitments worth over $1.4 trillion [9] Group 3: Pharmaceutical Pricing Changes - President Donald Trump announced agreements with Eli Lilly and Novo Nordisk to significantly reduce prices of obesity drugs, with Medicare set to cover GLP-1 drugs for obesity starting mid-2026 [5][7] - The monthly out-of-pocket price for these drugs could range from $50 to $350, compared to list prices that can reach up to $1,350 before insurance [7] Group 4: Retail Strategy Adjustments - Target is facing customer complaints regarding in-store experiences, prompting a shift in its website strategy to limit which stores fulfill online orders, allowing employees to focus more on in-store customer service [11][12]