Podcast Summary: Bloomberg Talks — Dan Ives Talks Top AI Plays for 2026

Date: December 30, 2025
Host: Paul Sweeney (Bloomberg)
Guest: Dan Ives (Senior Tech Analyst & Head of Technology Research, Wedbush Securities)

Episode Overview

This episode centers on tech investing opportunities—particularly in Artificial Intelligence (AI)—as we head into 2026. Dan Ives, a recurrent and outspoken tech analyst, joins Paul Sweeney to dissect the current tech landscape, preview the Consumer Electronics Show (CES) in Las Vegas, and forecast which AI-related companies and technologies have the best growth potential. The discussion ranges from chipmakers and software plays to energy challenges and the US-China tech rivalry.

Key Discussion Points & Insights

The Investment Outlook for 2026: AI's Dominance

• CES as the Tone-Setter:

  • [01:03] Dan Ives previews CES 2026, saying Jensen Huang’s keynote (Nvidia CEO) will “set the tone” for the year, especially for “autonomous robotics, physical AI.”
  • He expects a “booming year for AI and tech stocks,” especially in software.

• AI Software and Infrastructure Winners:

  • [01:20] Ives highlights software names such as Palantir, MongoDB, Snowflake, and security/infrastructure plays like CrowdStrike and Palo Alto Networks.
  • Oracle is flagged as an underappreciated name:

    "Oracle is the name that I think investors are just throwing in the garbage. That's the one I think investors are getting." (Dan Ives, 01:33)

  • Stocks with ties to OpenAI (AMD, Microsoft, Oracle) have been “sold off significantly,” which Ives sees as an opportunity.

• Market Optimism:

  • [02:30] Ives estimates tech stocks could rise “25% really in 2026,” especially with the AI revolution still heating up:

    "It's 10:30, 10:45 pm, party goes to 4 am starting 9 pm, and OpenAI is going to play a huge role in that." (Dan Ives, 02:32)

The AI Hardware Race & US-China Tech Dynamics

• Nvidia’s Lead:

  • [03:00] Ives emphatically says:

    “There’s only one godfather of AI. He’s wearing a black leather jacket, his name’s Jensen.”

    • He believes Nvidia is “five years ahead of any other competitor,” with demand high even for their restricted chips in China.
    • AMD is cited as another major play.
  • The “AI arms race” is heating up with US companies (Google, Microsoft) ramping up their chip efforts.

• US Ahead of China:

  • [03:35] Ives marks 2026 as the first time in 30 years that the US is “ahead of China when it comes to tech.”

    “For the first time in 30 years, US is ahead of China when it comes to tech.” (Dan Ives, 03:35)

  • He shares a colorful anecdote contrasting his trips to Taiwan tech fabs and the US:

    “I’d be in Taiwan 18 hours seeing factory fabs, then land in Newark Airport, there’s some fistfight, Dunkin Donuts, and you’re like, wow, we are like so behind now. So switched.” (Dan Ives, 03:58)

AI IPOs, Bubbles, and Supply-Demand Dynamics

• OpenAI & IPOs:

  • [04:15] Sweeney asks if OpenAI will go public in 2026. Ives sees this as a “seminal event” more likely in early 2027 but maybe a filing in 2026.

• Is It a Bubble?

  • [04:30] Ives rebuts bubble concerns, stating the best AI companies haven't even gone public yet—demand for growth stocks far outpaces supply, especially for Nvidia chips (ratio “12 to 1 in Asia”).

Biggest Threats to AI's Growth: Energy & Regulation

• [05:08] Ives warns:

  “If you’re saying what could spoil the AI party...it’s energy and regulation.”

  • He singles out energy constraints as the “biggest restriction,” believes nuclear will be crucial, and references Google's strategic move into energy ownership.

Anticipation for CES 2026

• [05:49] Sweeney senses CES may bring “a seminal announcement,” whether in product, service, or partnership, with the AI revolution at its core.

• Quantum Computing and Robotics:

  • [06:12] Ives tells listeners to watch for bullish pivoting on quantum technology and sees Nvidia doubling down on robotics.
  • “The one thing to stress to anyone listening is this is not just about ChatGPT...this is the year Apple goes deep dives into...AI on the consumer side.” (Dan Ives, 07:22)
  • He likens this moment to 1996, not the dot-com bubble era—hinting at real, foundational innovation.

China’s Growing CES Presence

• [08:07] Ives expects an even bigger Chinese tech presence at CES, with companies out to “flex muscles on the global stage” even if restricted from the US market.

Notable Quotes

• On Nvidia’s Dominance:

  "There's only one godfather of AI. He's wearing a black leather jacket, his name’s Jensen. And I think they are five years ahead of any other competitor." (Dan Ives, 03:00)

• On The AI Boom:

  "It's 10:30, 10:45 pm, party goes to 4 am starting 9 pm, and OpenAI is going to play a huge role in that." (Dan Ives, 02:32)

• On AI Bubble Fears:

  "Some of the best companies that are haven't even gone public yet... the supply is 12 to 1 for Nvidia chips today in Asia." (Dan Ives, 04:26 & 04:54)

• On Growth Constraints:

  "If you’re saying what could spoil the AI party...it’s energy and regulation." (Dan Ives, 05:13)

• On The Significance of CES:

  "For so many years, CES is like, oh great, a refrigerator that talks to you, a cool drone... now it’s really become like central... to the AI revolution." (Dan Ives, 06:12)

• On US-China Competition:

  “For the first time in 30 years, US is ahead of China when it comes to tech.” (Dan Ives, 03:35)
  “I’d be in Taiwan 18 hours seeing factory fabs, then land in Newark Airport, there’s some fistfight, Dunkin Donuts, and you’re like, wow, we are like so behind now. So switched.” (Dan Ives, 03:58)

Timestamps for Important Topics

• [01:03] — Outlook for AI in 2026 and key tech stocks
• [02:30] — AI “party just starting”; OpenAI’s role
• [03:00] — Nvidia’s lead in AI chips and the global arms race
• [03:35] — US vs. China: America’s tech lead
• [04:15] — OpenAI IPO possibilities and AI supply-demand mismatch
• [05:08] — Biggest challenges: Energy and regulation
• [05:49] — Anticipation for major CES 2026 announcements
• [06:12] — CES as the center of the AI revolution; robotics, quantum, Apple’s role
• [08:07] — China’s growing role and motivation at CES

Tone & Memorable Moments

• The interview is lively, informal, and direct; Dan Ives injects humor and uses vivid metaphors (“party goes to 4 am,” “godfather of AI in a black leather jacket,” “if you’re not at CES, it’s like sitting by the kitchen at a wedding”).
• There’s a sense of excitement—tinged with some caution—about 2026 being a pivotal year for AI, both in terms of technology and investing.
• The Penn State football segment [08:56] is a fun, personal aside, underscoring Ives’ personality but is not central to the tech discussion.

Summary Takeaways

• 2026 is set to be a major year for AI, both for “picks and shovels” (hardware and infrastructure) and for software/platform plays.
• Nvidia, Oracle, AMD, and security companies are at the top of Dan Ives’ list.
• The key rate-limiting factors will be energy supply and regulation, not lack of demand or innovation.
• CES 2026 is pivotal and expected to showcase not just gadgets, but catalytic developments for the next phase of AI—and signals a global stage for both US and Chinese innovators.
• Amid AI bubble talk, Ives stresses the real economic and technological momentum at work, drawing a sharp distinction between the genuine transformation now and the hype of 1999-2000.

For those tracking where AI and tech investing is headed in 2026, this episode is an energetic, insightful roadmap to the sector’s major players, risks, and underappreciated stories.