Unidentified Host/Interviewer (2:43)

But I mean, is that the big names like Nvidia? Because I think to myself, lots of competition out there for them. First of all, supply chain challenges continue. But you've also got Google and Amazon, big competitors who are playing catch up with Nvidia. Can, can it really hold on to that momentum in 2026?

Dan Ives (3:00)

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. That's why look for them like even their third best chip, restricted H200 right in China, despite whatever the politics, Baba, JD Tencent, they want those chips because it comes down to like they are so many years ahead of competition. I think, look, amd that's going to be a major play that we see playing out. And then I think you start to look at like what Google's doing, what Microsoft is doing in this chip world. It's in an AI arms race. But here's the deal. For the first time in 30 years, US is ahead of China when it comes to tech.

Unidentified Host/Interviewer (3:50)

How about that?

Dan Ives (3:51)

That, that is, I think that's really like the most important thing here.

Unidentified Host/Interviewer (3:55)

That's getting lost in the sauce. I feel what you just said.

Dan Ives (3:58)

Well, it is because for so many times, like I'd be in Taiwan 18 hours seeing like factory fabs, then land in Newark Airport, there's some fistfight, Dunkin Donuts and you're like, wow, we are like so behind now.

Paul Sweeney (4:13)

Yep.

Dan Ives (4:13)

So switched.

Paul Sweeney (4:15)

So is OpenAI going to go public in 2026 and is that going to.

Dan Ives (4:18)

Be a seminal event for I think early 27?

Paul Sweeney (4:22)

Okay.

Dan Ives (4:22)

They go, they could file maybe by the way, 26. But I think that's the thing like Space X, you think about anthropic, you think, think about open AI. Look, the reality is, is that, you know, people talk about bubble. Some of the best companies that are haven't even gone public yet. And I think there's, there's a supply demand for big growth names. And that's why to me, I think investors that are saying it's a bubble tax done, they're doing it from the 25th floor of New York City office building or Metro North. Right. I mean the reality is like for someone like me that sees it globally, sees the demand, demand, the supply is 12 to 1 for Nvidia chips today in Asia.

Unidentified Host/Interviewer (5:08)

But here's the question, is there enough Energy out there to meet that supply. Because that's one of the biggest, the biggest challenge going forward.

Dan Ives (5:13)

That's. Look, if you think like the thing to me that like, if you're saying what could spoil the AI party, right, it's not about demand, fourth Industrial revolution, it's not about like the use cases, it's energy and regulation. And look, energy. That's why, like, you know, you look what's happened in nuclear, you saw the TAE deal with, you know, obviously Trump media. You saw what Google's doing in terms of them buying their own energy company. I mean energy is the biggest restriction in the us But I continue to believe like nuclear is going to be the play there.

Paul Sweeney (5:49)

CES, it's 200, 250, 300,000 people to send on Vegas for it. It's been going there for 40 years. I've been going to this thing. This one feels like we might get like a seminal announcement coming out of this, whether it's a product, a service, an investment, a deal. It just feels like maybe this CES might be something where something really material pops out of.

Dan Ives (6:12)

Yeah, I agree. Because like, look, for so many years CES is like, oh great, a refrigerator that talks to you, a cool drone that now it's really become like central to the to. When you think about the AI revolution, I think when you talk about chips, when you look what's coming out of amd, I think Nvidia is really going to double down on robotics. I think Quantum is another one. If you go back a year ago, that's where Jensen was sort of quantum's like 10, 15 years away. Quantum stock sold up. I actually think there's going to be a lot more bullish when it comes to Quantum. And look, I know half the companies that I know that are going there, they're not officially there. Why are they going there? They're not going there to, you know, to go to the Cosmo or go to the Wind for dinner. They're going because they're looking, they're looking for acquisition capital.

Paul Sweeney (7:01)

I kind of feel like during ces, if I talk to a CEO, I think my first question is gonna be, why are you not in Vegas? Like, I don't care what business you're in, I'm in the paint.

Unidentified Host/Interviewer (7:10)

You're touched by the technology.

Dan Ives (7:12)

Yeah, exactly. But to Paul's point, this isn't just about like consumer gadgets, hundred inch televisions that somehow talk to you now. It's really become central to like where the technology they met the Chinese presence there in Terms of xpeng, byd everyone else you think about autonomous robotics. And that's why like I think the one thing like to stress to anyone listening is like this is not just about like ChatGPT. What model do you use? We are now this is the year Apple goes deep dives into deep end the pool when it comes to AI on the consumer side. We're now going to hit the next level of the air revolution. But this is a 1996 moment, not 19992000 bubble moment.

Unidentified Host/Interviewer (8:00)

Yes, thankfully. Do we, do we expect a big China presence at this thing Given the relationship right now between the US and China.

Dan Ives (8:07)

If you're a China tech company, you have to come here. And I think like when I think about like the presence last year that was already significant. This year it is, it's booming because for them, okay, like they're not gonna be able to sell into the US at least currently. But this for them it's a flex to muscles on the global stage in terms of them selling. South America, Europe, Australia.

Unidentified Host/Interviewer (8:34)

I mean that world descends upon cities, right?

Dan Ives (8:37)

Cause like when you this is the world event but to Paul's point, like if you're not there, it's almost like being in a wedding and at a table by the kitchen with random people. Instead of being like kind of like Paul, he's always like front and center like he's at the cool table.

Paul Sweeney (8:56)

Matt Campbell named 17th Penn State head football COACH what do you think?

Dan Ives (9:01)

Look, I think Campbell like he is the right guy for Penn State. I mean it's not just that, it's the staff he's going to bring in. He knows how to recruit. I think he's the magic formula. I think now we'll get Danton Lin from USC as a defensive coordinator. He this is going to build the stage to what I like. People will say next year I got to rebuild near. I disagree. I think this gets us back into the playoffs next year and it goes back to the dream for Natty in 27 or 28.

Paul Sweeney (9:30)

There we go. Penn State a new cycle there as coach Franklin moves on to Virginia Tech. We got the Matt Campbell tenure coming up there at Penn State and Dan Ives very is an alum and very involved in this school. Dan Ives, thanks so much for joining us. Senior tech analyst at Wedbush securities giving us the latest thoughts there.

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