Market bears still in hibernation mode after Nvidia earnings, says Wedbush's Dan Ives
Speakers
Dan Ives
— Managing Director, Wedbush Securities
Summary
Dan Ives of Wedbush discusses the AI and quantum computing landscape, highlighting IBM's transformation and massive upside, and NVIDIA's potential to reach $6-7 trillion market cap. He views quantum computing as an early-stage derivative play on AI and notes a golden age in energy infrastructure driven by AI demand.
- Dan Ives is bullish on IBM, citing underappreciated CEO and turnaround.
- He sees NVIDIA market cap reaching $6-7 trillion as AI demand accelerates.
- Quantum computing is considered a derivative play on AI, still in early innings.
- The AI revolution is only 15-20% through a $4 trillion spending cycle.
- Energy infrastructure for AI is entering a golden age, especially gas power.
- He notes the US-China arms race in AI, quantum, and power infrastructure.
- Hyperscalers are also beneficiaries of the AI trend.
Trade Ideas
IBM has massive upside underappreciated CEO.
IBM has massive upside due to underappreciated CEO Arvind Krishna's transformation strategy, focusing on AI and quantum computing, similar to Intel's turnaround which is just beginning.
