Newcastle will aim to defend their 2024-25 EFL Cup triumph, while City are keen to reclaim the trophy for the first time since 2020-21.
City are unbeaten in their last 12 games with nine wins and three draws and enter the game on the back of a 10-1 thrashing of Exeter City in the FA Cup.
Newcastle under no pressure to defend title
Guardiola was first asked if Newcastle will feel the pressure as they aim to defend their title, which was their first trophy in 70 years.
"No, I don't know if it should be more pressure on them that they are champions.
"So they've done really well since many years, and now we are again, they won last season, semi-finals, and you're right, they're the champion, and the opportunity for a lot of new players to reach a final."
The City boss continued to speak on Newcastle, praising manager Eddie Howe, whose side have lost just one of their last four home meetings with the Citizens in recent years.
"I didn't sleep tonight thinking about my genius on how to beat Eddie Howe. I prefer a one off game. I would love the semi-final to be one game.
"For many years since Howe took over, look how many games are won in the last minute. In that stadium it is special."
Guardiola takes nothing from the Exeter win
Beating Exeter 10-1 at the weekend was arguably the most shocking result of the FA Cup fixtures, as City's home advantage helped Guardiola's side to a goal rout. The Spanish head coach did not revel in victory, however, as he said his side simply did their job against the League One side.
"It's fine. I don't take much. The game sometimes happens, I understand for Exeter it is not comfortable. We do our job and we always talk about that. When you play in games, it's the best way to improve things that we can do better, or when we talk to see how it works when we do it but not I would say anything special. When I review our period here, it will not be a thing that we scored ten goals against Exeter.
"We went through, the way we respected the opponent from the lower divisions. We did really good things but the first four goals were three deflections when in the last games we missed a lot from the penalty spot. We were through, forgotten, and the next one."