We're In Third Inning of AI Revolution, Ives Says

Summary

Dan Ives discusses the recent AI stock rout triggered by Chinese models, calling it a temporary white-knuckle moment. He argues that NVIDIA remains the essential chip supplier and that AI spending on data and infrastructure will continue. He highlights Apple as a just-starting consumer AI toll booth, and notes Alphabet has narrowed the AI gap. The interview maintains a bullish long-term stance on US AI tech, with the AI revolution still in its third inning.

• Dan Ives views the China model selloff as a short-lived 'white knuckle moment,' similar to the mini DeepSeek scare.
• He stresses NVIDIA's indispensable role as the sole chip powering the AI arms race among hyperscalers and model makers.
• He believes the real AI spending will be on data, data centers, and physical AI, not just models, and expects Q1 earnings to validate this.
• Apple is cited as just beginning the consumer AI revolution, acting as a toll booth that will monetize AI adoption.
• Alphabet's Gemini has closed the gap with rivals, but the thesis was not strong enough for a confident trade recommendation.
• The AI revolution is still in the early innings (third inning), with significant growth ahead driven by enterprise software and use cases.