The AI Revolution: A Paradigm Shift
Wedbush’s Daniel Ives, a vocal proponent of the “AI revolution,” likens the current technological climate to a party at 10 p.m., brimming with potential until the early hours of the morning.
Looking Ahead: Ahead of Nvidia Corp.’s NVDA impending AI unveiling, Ives emphasizes that the AI celebration is just commencing.
“It’s a 1995 moment. This AI revolution, this party … it’s getting the popcorn out. It’s 10 p.m. in a party that goes to 4:30 a.m,” Ives remarked.
Anticipating Nvidia’s pivotal role, Ives envisions the company as the protagonist of this technological shift, set to make significant waves with its upcoming announcement at GTC 2024.
“It’s a grand event for the godfather of AI, Jensen, to talk about what we see in terms of AI demand, H200 … in terms of some other technology changes that we’re going to see in the AI ecosystem,” Ives elaborated.
“They are going to continue to rule the market. American Micro Devices Inc. AMD, Lisa Su, and others could benefit,” Ives expressed, highlighting Nvidia’s dominant position amidst its competitors.
Reflecting on the current landscape, Ives praises Nvidia’s hardware advancements in AI chips while recognizing companies like Microsoft Corp., Palantir Technologies Inc., Snowflake Inc., and Salesforce Inc. for their software contributions.
In light of the evolving scene, Ives mentions Apple Inc. and Tesla Inc. knocking at the door, poised to rejoin the elite group, with China exposure posing a challenge for Tim Cook and Elon Musk-led entities.
Despite growing skepticism surrounding Tesla, Ives advocates for persistence, foreseeing AI and autonomous driving as catalysts for the company’s growth to potentially surpass $1 trillion in market capitalization.