AI still in the '2nd inning' hence bullishness in tech, says Wedbush's Dan Ives

요약 보기

Dan Ives는 AI 혁명이 아직 초기(9회 중 2회)이며 2025년 기술주가 25% 상승할 것이라 주장. AI 투자 대비 기업 활용 증가(6개월간 5배)와 Palantir·Salesforce 등 소프트웨어 실적 사례를 근거로 듦. 2025년 M&A 활성화로 빅테크가 더 강해질 것이라 봄. Palantir는 Oracle·Salesforce급 기업이 될 수 있다며 주가 3자릿수 상승 가능성까지 언급. 2조 달러 규모 AI 자본지출에 대한 수익성 우려에는 소프트웨어 활용 확대로 대응 가능하다고 답변.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. Let's also pay attention to technology in 2025, as we know that's where we 'll be focused. Our next guest predicts that the sector will grow by 25% in the new year thanks to the artificial intelligence revolution. Among his top favorites: Nvidia, Microsoft, Tesla, and Palantir. With us is Dan Ives, analyst at Wedbush Securities.

02. Dan, we congratulate you for the last time this year. I'm sorry you're not here in the studio. I'm pretty sure you were the most frequent guest on CNBC throughout 2024. We appreciate it very much . And we appreciate even more the fact that you were mostly right, Dan. You will make a mistake sometime, but it wasn't this year.

03. Why do you think this won't happen next year, given that you continue to be so incredibly optimistic about many technology companies? Thank you, that's very nice to hear. It was great to be with you all year long. Look , for me, the main thing is to accompany investors through this AI revolution. And I think we're still only in the second inning of this nine-inning game, in our opinion.

04. And all we see from all our spending is the multiplier effect. For every dollar spent on the “ godfather” of AI, Nvidia, on these chips, there is an $8 to $10 multiplier in the rest of the tech sector. That's why I continue to believe that tech stocks will rise 25% next year. And this is only the tenth night of this artificial intelligence party, which will last until four in the morning.

05. Of course. You've been talking about this for a while now. I think you moved us an hour later. I'm not sure. It used to be nine in the evening, now it's ten. Okay, ten o'clock in the evening. Dan, the question arises : will investors start demanding a real return on all the investments made, hundreds of billions that, frankly, have already been invested and will be invested next year by hyperscalers, for example?

06. Do you think such a demand will be made, and will it be met? See, that was the main question. And I think we started to see that tipping point with the announcements from Palantir, because if you look at Palantir, that was the first use case where we start to see this working in the enterprise sector.

07. Then Salesforce, that was a huge moment, what we saw from Benioff last quarter. I actually think software will be key. I think the usage options are expanding in all directions. I mean, in the companies we talk to, the number of uses for artificial intelligence has increased fivefold in the last 6 months, and I believe this will be a key factor in further development.

08. But two trillion in capital spending on AI over the next 3 years—it's going to be hard to counteract that, and I keep talking about it . Skeptics can look for AI in spreadsheets; I understand that these companies need to demonstrate results, but the execution is already there, and now everything will depend on the rest of the technology sector.

09. That's why we lead. These are the top 10 AI strategies we see in 2025. In the context of enterprise AI, in particular, you believe that the two best software solutions are Palantir and Salesforce. What are some examples of software companies whose AI potential you have the most doubts about? Look, I think we should be a little more skeptical about Adobe in terms of what they can do.

10. I think there's obviously still a huge potential there . You know, when you look at IBM, I think they've had a lot of success, but what's important to me is who actually puts it into practice. It's Palantir, it's Salesforce, I think it's MongoDB , it's Snowflake, I think Oracle is going through a huge growth renaissance.

11. And you'll also see that with Khan leaving the FTC, mergers and acquisitions in the tech sector will skyrocket. These big tech players will get stronger and bigger. And I think that will be a huge theme throughout 2025 as the strong get even stronger. Danny, tell me why I shouldn't worry about owning Palantir stock if it's trading at 50x earnings, insiders have sold hundreds of millions of dollars worth of stock in the last 6 weeks, the chart has gone straight up, and they continue to fuel interest by penetrating different industries.

12. This seems like a very speculative situation for a company that certainly has a strong position, but at the same time has become a kind of cult. Yes. Listen, Mike, this is definitely a debate between the "bulls" and the " bears." The controversy surrounding Palantir has almost reached Tesla levels in terms of emotionality.

13. Look, for me it's not about what happens next year or what price these stocks are trading at. I look at it through the lens of whether Palantir can become the next Oracle or the next Salesforce. If this is true, and I believe it is, then the stock price should increase significantly. Regarding what you are talking about, I think that is why it is worth focusing on AIPs, because they prove the effectiveness of corporate use, and this can cover up to 30–40% of total revenue.

14. I think that's the main thing. But I don't pay much attention to all this noise. I'm just focusing on our inspections. And that's why Palantir—haters hate it like teenagers, and retirees despise this stock. And I believe these stocks have the potential to reach triple digits and beyond.