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There's only one Godfather of AI and then that's Jensen. And and and it just speaks to everything starts the hearts and the lungs of AI is in video. Dan Ives just called Nvidia the heart and lungs of artificial intelligence. And today he's explaining exactly why this stock is about to explode. When I look at Intel, that's one like look, it's had a huge run.
I think they are well positioned relative, but I'd every day I'd rather own Nvidia over Intel. We're going to walk through every argument he makes. And I'll warn you now. The last one is the most convincing thing I've heard about this stock in a long time. His first argument is simple. The earnings just proved the skeptics wrong.
Big tech results just dropped. And they didn't just beat expectations. They answered a question the market has been debating for over a year. Skeptics have been saying artificial intelligence spending is overblown, that companies are burning hundreds of billions on infrastructure that hasn't generated real returns yet.
These results just shut that argument down completely. Look, I think the real these earnings has validated the AI bullish thesis. And I you know, we saw it last month when we were in Asia, demand to supply is 10 to 1 for chips. I mean, we are Look, we are in the early days still of the AI revolution.
10 to 1. For every chip being produced right now, 10 buyers are waiting in line. That kind of gap between supply and demand doesn't show up in a normal stable market. It shows up when a technology shift is moving so fast that the entire industry can't keep up with it. And what makes this number so significant is that it's not shrinking.
It's holding. Companies aren't pulling back orders. They're accelerating them. The hyperscalers, Microsoft, Google, Amazon, Meta have all raised their capital spending guidance this year. Every one of those dollars represents an order that needs to flow through the artificial intelligence supply chain.
The demand is real, the numbers are in, the thesis is validated. The haters are here and we know that, but we're going to be talking about tech stocks for the coming year cuz I I think we're going to Nasdaq 30,000 as this all plays out. 30,000 on the Nasdaq. That's a big number, but it's built on a specific view that we are still in the early innings of a multi-year spending cycle.
Not the peak, not the plateau, the early innings. And that framing changes how you think about every stock in this space. His second argument is about timing and most people are reading the clock wrong. Most investors assume that because Nvidia has already had an enormous run, the best of the trade is behind them.
Dan Ives says the opposite. He says we're not at the end of this cycle, we're not even at the middle of it. This AI party started 9:30 p.m. It's now about 11:00, 11:30 p.m. goes to 4:00 a.m. And now look, and now like Intel, they're on the dance floor. Break that analogy down and it's actually precise.
When the party starts, only a handful of people are there. The earliest investors, the companies with the most direct and obvious exposure. That was Nvidia, Microsoft, the large cloud providers. They showed up first and benefited first, but the party doesn't end at midnight. It runs until 4:00 in the morning.
And right now at 11:30, a whole new wave of companies is just walking through the door. Power infrastructure, memory chips, cybersecurity, software. The reason this matters for Nvidia specifically is that the companies arriving late to the party still need to buy from Nvidia to get in the door. Every new wave of artificial intelligence investment is another wave of chip orders.
The clock is running and it's running in Nvidia's favor. His third argument is about something almost nobody is talking about, the memory super cycle. Look, I think it's a memory super cycle. So, when it comes to SK, when it comes to Micron saying that, I mean, we're very bullish in terms of what we're seeing there.
Here's why this connects back to Nvidia. Every artificial intelligence chip Nvidia produces needs to be paired with high-bandwidth memory to function at speed. You can't run a modern artificial intelligence model on a chip alone. The memory is what allows it to process enormous amounts of data in real-time.
As Nvidia ships more chips, demand for the memory that powers those chips compounds alongside it. The two are inseparable. And as artificial intelligence scales from experimental to fully mainstream, that compounding effect only accelerates. This is what Dan Ives means when he talks about second and third derivative plays.
Nvidia is the center of gravity, and everything around it moves because of it. His fourth argument is the one that directly answers the rotation question, and it's the most important one for anyone thinking of switching out of Nvidia into something else. The pushback from the market right now goes like this.
Nvidia has already run. Intel is up over 200%. Memory names are surging. So, why stay in Nvidia when there are fresher opportunities? It's all about second, third, fourth derivatives. And investors are trying to figure out, okay, let's take Nvidia. You know, you look at it, and obviously that's been the historic trade.
Now, is it Intel? Do you want AMD? Do you play the memory super cycle that's playing out? This is exactly how rotation logic works. Nvidia runs hard, the valuation looks stretched, and the market starts hunting for the next version of that trade. It feels like smart thinking, but Dan Ives keeps landing in the same place.
And it's because Nvidia's position in this ecosystem is not comparable to any other name. Nvidia is not just one company in the artificial intelligence stack. It's the foundational layer that every other part of the stack runs on. The language models powering chat GPT, Google's Gemini, Amazon's cloud artificial intelligence services, Microsoft Copilot, every single one of those systems was built on Nvidia hardware and optimized for Nvidia's software environment.
When something is embedded this deeply into the infrastructure, you don't replace it because a competitor had a strong quarter. You replace it when something fundamentally better exists at scale. And right now, nothing does. There's also a switching cost dimension that gets underestimated. The data centers being built right now are being designed around Nvidia, the tooling, the drivers, the developer ecosystem.
It's all been built on top of Nvidia's platform over years. Rebuilding that from scratch would take years and would slow down every artificial intelligence project depending on it. That's not a moat, that's a fortress. We're halfway through Dan Ives's case, and his most important argument is still ahead.
Keep watching. Before the final argument, there's a risk Dan Ives flagged that connects directly to why Nvidia stays relevant even as the broader software sector faces real danger. His fifth argument is about who survives the artificial intelligence disruption and who doesn't. Well, I can I talked about it so much like an AI ghost train in terms of Anthropic, the words is going to essentially structurally break the software sector.
Structurally break. He's not describing a bad earnings quarter. He's describing a situation where the core business model of certain software companies gets undermined by artificial intelligence agents that can perform the same tasks those platforms were built around. Think about what that means for any company charging per seat, per user, per license, when an artificial intelligence agent can replace dozens of those users overnight.
The economics of that business start to collapse. Not every software company is equally exposed. The ones with deep motes built on proprietary data, embedded workflows, years of customer integrations, those are the ones that can survive and benefit. The ones built on simpler automation are the ones at real risk.
But when you look at the cybersecurity CrowdStrike, Palo Alto, I mean those are two golden opportunities that is actually just going to get bigger based on what we see with AI. Cybersecurity operates in a completely different dynamic. More artificial intelligence means more automation across every industry.
More automation means more connected systems, more data flows, more attack surface for bad actors to exploit. The companies protecting that infrastructure aren't being disrupted by artificial intelligence adoption. They're being made more essential by it. Every dollar that flows into artificial intelligence infrastructure eventually creates more demand for the security layer protecting it.
This is a sector that benefits from the same tailwind that threatens everyone else. Now, the final argument, the one Dan Ives says is the single most important call he's making in large-cap technology right now. And it is not the company most people expect. His last argument is about the company that quietly owns the most powerful distribution network in the entire artificial intelligence ecosystem, and most investors are completely sleeping on it.
The table pounder in terms of large-cap right now, right here, it's Apple. Because it's my view the consumer AI revolution is going to go through Cupertino. The at WWDC, there that's where they're going to start the Gemini deal. Apple has been widely criticized for its artificial intelligence strategy.
No massive proprietary model, no data center arms race. Instead, partnerships and integrations. The market criticism has been that Apple is behind, that they missed the moment. Dan Ives completely inverts that argument. He says Apple's approach isn't a weakness. It is the most strategically intelligent position in consumer technology right now, precisely because Apple doesn't need to win the model race.
There's all the models, whether it's US, Europe, Asia, they'll be on the phones. You have an AI-enabled device, you're going to have more and more apps. They're going to have a piece of that pie. They're essentially a toll collector on the AI consumer highway. A toll collector. That framing changes everything.
Apple doesn't need to build the best artificial intelligence model. They own the device that over a billion people carry in their pocket every single day. Every artificial intelligence application that runs on an iPhone, every model integrated into the Apple ecosystem, every transaction that passes through the App Store, Apple takes a cut.
They built the highway decades ago. Now, every artificial intelligence company on the planet is trying to reach consumers through it, and Apple sits at the toll booth collecting from all of them. There's 1.5 billion reasons why that's not going to happen to OpenAI, because there's 1.5 billion iPhones.
And it speaks to many, you know, if you many people around the world, they view as food, water, and their iPhone, maybe Netflix as well. Apple is about to turn every one of those devices into an artificial intelligence-enabled endpoint. The market is still pricing Apple like a hardware company with a growing services business.
Dan Ives is saying it's about to be repriced as the world's most powerful artificial intelligence consumer platform, and the window to own it before that repricing happens is closing, and an Apple distribution advantage that nobody else on the planet can replicate. Nvidia is the heart and lungs, but the entire body is still being built around it.
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