Dan Ives: Workday's potential acquisition puts a floor on names in the sector

Watch on YouTube ↗  |  August 14, 2026 at 21:13  |  4:36  |  CNBC
Speakers
Dan Ives — Managing Director, Wedbush Securities

Summary

Dan Ives argues the software trade is back because the SaaS apocalypse was fictional and software is the next derivative of the AI revolution. He sees the reported Silver Lake interest in Workday as putting a floor under software names and names Microsoft, Palantir, Adobe, and ServiceNow as key beneficiaries. He also says AI capex will multiply across software infrastructure and that cybersecurity is in a golden age, with CrowdStrike and Palo Alto Networks as leaders.

  • Dan Ives calls the SaaS selloff a fictional narrative and says software is entering the AI party.
  • He names Microsoft and Palantir as software names likely to gain validation from AI monetization.
  • Reported private equity interest in Workday could signal software value and put a floor on sector names.
  • Adobe and ServiceNow are highlighted as software winners tied to data and installed bases.
  • AI capex could have a five-to-six-dollar multiplier across tech, benefiting software infrastructure.
  • Cybersecurity budgets could double in two to three years, with CrowdStrike and Palo Alto Networks as leaders.
Ideas
Dan Ives Managing Director, Wedbush Securities 0:27
Software trade enters AI party.
The reported Silver Lake interest in Workday shows private equity sees value in software, especially in the Bay Area; a potential Workday acquisition could put a floor under many software names even though more deal activity still needs to play out.
IGV WDAY HIGH
Dan Ives Managing Director, Wedbush Securities 0:50
Microsoft and Palantir gain AI validation.
Microsoft and Palantir are two specific software names that should gain much more validation as tech investors look for AI monetization.
MSFT PLTR MED
Dan Ives Managing Director, Wedbush Securities 1:56
Adobe, ServiceNow are AI software winners.
In the AI revolution data and installed bases are the hearts and lungs, so software names with key install bases will separate into winners and losers; Adobe and ServiceNow are among the names positioned to benefit.
ADBE NOW MED
Dan Ives Managing Director, Wedbush Securities 3:02
AI capex multiplier benefits software infrastructure.
Every dollar of AI capex will multiply into five to six dollars across the rest of tech, and a lot of that will flow into software infrastructure as the AI buildout plays out.
Software Infrastructure MED
Dan Ives Managing Director, Wedbush Securities 3:57
Cybersecurity budgets double; CrowdStrike, Palo Alto lead.
Cybersecurity is in a golden age because budgets could double over the next two to three years as AI use cases increase the attack surface; leaders like CrowdStrike and Palo Alto Networks are positioned to secure that expanding surface area.
CIBR PANW CRWD HIGH
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This CNBC video, published August 14, 2026, features Dan Ives discussing IGV, WDAY, MSFT, PLTR, ADBE, NOW, Software Infrastructure, CIBR, PANW, CRWD. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Dan Ives  · Tickers: IGV, WDAY, MSFT, PLTR, ADBE, NOW, Software Infrastructure, CIBR, PANW, CRWD