Bloomberg Talks: "Wedbush's Dan Ives Talks AI Tech Competition"

Date: November 26, 2025
Guest: Dan Ives, Wedbush Managing Director
Host: Bloomberg, with Paul Sweeney

Episode Overview

In this episode, Dan Ives of Wedbush joins Bloomberg's team to unpack the state of the AI technology race, recent shifts in big tech strategies (focused on Apple, Nvidia, Meta, and Microsoft), and the implications for investors. The conversation ranges from firsthand experiences at Formula One races to deep dives into AI chip competition, the ongoing tech bull market, the future of robotics, and his single best investment idea right now.

Key Discussion Points & Insights

1. F1 Experience, Apple & Media Rights

• (00:41-02:27)
  • Dan Ives recounts his on-the-ground impressions from Formula One, highlighting the technical complexity that TV viewers often miss:

    “Not just how loud it is, but […] the complexity. I mean, that's the thing. It's really amazing.” (Dan Ives, 01:06)

  • Discussion shifts to Apple's push into sports broadcasting (F1, Apple TV):
    • Apple aims for a broader content offering, using sports as an entry despite "Dad TV" jokes about their audience and struggles with quantity over quality.
    • Quote:

      “The quality speaks for itself. Quantity has been the issue, but for them... they’re going to continue to have irons in the fire.” (Dan Ives, 01:58)

2. AI Chips: Nvidia, Google, and Meta

• (02:37-04:34)
  • Meta’s large AI chip order from Google is discussed, perceived as a challenge to Nvidia’s dominance.
  • Dan downplays immediate competitive risk:
    • Nvidia demand/supply sits at 12:1—chips are hard to get.
    • Google’s TPU tech is “three to four years behind.”
    • Big tech players (Apple, Microsoft, Meta) will eventually try to build their own chips, but for now:

      “There is one chip in the world fueling the AI revolution. That's Nvidia.” (Dan Ives, 03:25)

  • AI acceleration: In the last six months, demand jumped 30%. Only 3% of US enterprises have adopted AI; the global runway is huge.

3. Market Volatility, Apple’s Position, and the AI Consumer Revolution

• (04:34-06:24)
  • Brief review of tech market swings (notably Apple’s response to tariff threats vs. long-term trajectory).
  • Apple’s massive consumer base (2.4B devices), unique position to monetize AI when shifting from observation to action:

    “The consumer AI revolution comes through Apple… 75 to 100 dollars per share incremental will be added to Apple for AI.” (Dan Ives, 05:31)

  • Hosts query whether Apple feels pressure to act on AI. Dan: Yes, but pending Google's DOJ win—a prerequisite for deeper partnership (“the candlelight dinner between Sundar and Cook starts”).

4. Meta: CEO Mindset, Capex, and Market Sentiment

• (07:23-08:25)
  • Meta’s heavy investment in AI has led to stock pullback, but Dan remains bullish:

    “It's a table pounder buy… Zuck right now [is a] wartime CEO focused on increasing capex over the next year in this arms race… that’s what you want to see them do.” (Dan Ives, 07:35)

  • Meta’s 3B users = major long-term AI monetization upside.
  • The tech bull market is still early (year 3 of an 8-10 year buildout):

    “It’s truly a fourth industrial revolution.” (Dan Ives, 08:01)

5. Consumer AI & Robotics

• (08:25-09:52)
  • Today’s AI spending is largely enterprise-driven; true consumer AI (like robot assistants or autonomous vehicles) is just beginning.
  • The next phase includes “autonomous humanoid robotics.”
  • The banter extends from robotaxi timelines (“Keane will be in a robotaxi”) to robots making cranberry sauce.

6. Tesla: Autonomous Future & Robotaxis

• (09:52-11:34)
  • Institutional investors ask about Tesla’s slow relative performance.
  • The future is autonomous vehicles and the Optimus robot—“the most important chapter ever in Tesla's growth story.”
  • Dan sees rapid regulatory progress, forecasting robotaxis in 30-35 US cities and driverless cars at 20% penetration within several years:

    “You're going to look around… and you're not going to see a driver.” (Dan Ives, 11:13)

7. Top Investment Picks: Microsoft & the OpenAI Effect

• (11:34-12:50)
  • Dan's single best buy: Microsoft—despite short-term skepticism due to fierce hyperscaler competition and the company's OpenAI ties, “that has 100 dollar upside.”

    “OpenAI, it’s the Peter Lugers of technology. You want to be associated with it, not not associated.” (Dan Ives, 12:40)

8. Lighthearted Closer

• (13:02-14:16)
  • Quick pivot to Penn State football, Netflix’s F1 effect, and F1 travel anecdotes.

Notable Quotes & Timestamps

• On chip competition:

  “There is one chip in the world fueling the AI revolution. That’s Nvidia.” (Dan Ives, 03:25)

• On AI demand:

  “We’ve seen demand accelerate 30% in the last six months for AI.” (Dan Ives, 04:01)

• On Apple’s AI opportunity:

  “The consumer AI revolution comes through Apple… 75 to 100 dollars per share incremental will be added to Apple for AI.” (Dan Ives, 05:31)

• On Meta as a buy:

  “It’s a table pounder buy… Zuck right now wartime CEO focused on increasing capex over the next year in this arms race… that’s what you want to see them do.” (Dan Ives, 07:35)

• On Tesla’s future:

  “Optimus robot will be the most important chapter ever in Tesla's growth story.” (Dan Ives, 09:52)

• On Microsoft & OpenAI:

  “OpenAI, it’s the Peter Lugers of technology. You want to be associated with it, not not associated.” (Dan Ives, 12:40)

Key Timestamps

• F1 & Apple TV rationale: 00:41 - 01:58
• AI chips, Nvidia vs. Google/Meta: 02:37 - 04:34
• Apple’s market and AI plan: 05:31 - 06:24
• Meta’s AI stance: 07:23 - 08:25
• Consumer AI future & robotics: 08:25 - 09:52
• Tesla robotaxis/Optimus analysis: 09:52 - 11:34
• Microsoft/OpenAI thesis: 11:34 - 12:50

Conclusion

Dan Ives paints a bullish, high-conviction picture of AI’s central role in shaping technology’s next era, with Nvidia, Apple, Meta, and especially Microsoft (with its OpenAI exposure) as the key players and investment opportunities. The episode distills complex market moves into thematic narratives—AI as a multi-trillion-dollar, multi-year opportunity, with significant disruption and upside across both enterprise and eventual consumer use.