Brew Markets: "Hot Stocks with Dan Ives and His AI Revolution ETF"

Host: Ann Berry
Guest: Dan Ives, Global Head of Technology Research, Wedbush Securities
Date: September 19, 2025

Episode Overview

This episode zeroes in on the latest moves in tech stocks, the unique perspectives of Wall Street analyst Dan Ives, and the fast-evolving AI investment landscape. Ann Berry leads a rapid-fire, insight-packed interview with Ives, covering the logic behind his brand-new AI ETF, his views on headline names like Palantir, Tesla, and Oracle, and his own journey from analyst to ETF manager and board chair. The conversation reveals how Ives discerns hype from substance in AI, why autonomous tech and enterprise software remain his highest-conviction bets, and what investors might still be missing in the AI revolution.

Key Discussion Points & Insights

Cracker Barrel Activist Situation [00:01-02:14]

• Unusual Activist Profile: Sardar Biglery, CEO of Bigelowy Holdings (also CEO of Western Sizzlin and Steak and Shake), is campaigning for the ouster of Cracker Barrel’s CEO from its board.
• Noteworthy because: Bigelry Holdings is itself a public company, and Sardar has repeatedly sought a Cracker Barrel board seat.
• Company Troubles: Cracker Barrel’s customer traffic is down 8% amid rebranding missteps.
• Ann Berry: "One of the more unusual activist profiles I've seen. So we're going to keep watching this one..." [01:52]

Introducing Dan Ives: Analyst, ETF Creator, Board Chair [02:45-04:58]

• Dan Ives’ Profile: Global head of tech research at Wedbush, covering Nvidia, Tesla, and more. Recently launched the Wedbush AI Revolution ETF (IVES) and became chair of EightCo Holdings (now ticker ORBS after buying Worldcoin).
• Question Raised: Is Ives still an objective analyst, or now more of an industry evangelist?

Rapid-Fire Stock Opinions

Adobe [04:58-05:18]

• Ann Berry: Asks why Adobe is in the ETF, given competitors stealing mindshare.
• Dan Ives:

  "Adobe definitely is facing a lot of challenges... I believe the install base, they're going to continue to... benefit from AI. But look, there's no doubt right now it's a Prove me moment." [04:58]

Intel [05:18-06:19]

• Why not in the ETF?
• Dan Ives:

  "Intel is still playing single A baseball relative to major leagues now... huge step in the right direction, but... it's an Everest-like uphill battle for them on AI." [05:33] On patience: "I think they have a year to prove out that this is not just press releases and they could actually execute." [06:00]

Palantir [06:19-07:30]

• On the valuation and future:

• Dan Ives:

  "It's the Messi of AI... I believe it's going to a trillion dollars next two to three years because there is no better solution when it comes to AI use cases in Palantir." [06:30]

• For Enterprise vs. SMB:

  "...the first call on the red phone is to Carp and Palantir. They're playing a different game now." [07:05]

Meme Stocks & Misunderstood Names [07:30-08:17]

• Opendoor:

  "Misunderstood... They have to prove it... but I don't view it as a meme stock." [07:33]

• Others Misunderstood: AMD, Salesforce, CrowdStrike, Palo Alto Networks.

  "...do not bet against George or Nikesh." [07:52]

Tesla & Elon Musk [08:17-09:55]

• Elon Musk’s role:
• Dan Ives:

  "Musk is Tesla, Tesla is Musk... This is the 2 trillion and ultimately $3 trillion market cap, it's because physical AI when it comes to autonomous and robotics, Tesla is going to be, along with Nvidia, the two best physical AI players in the world." [08:53]

• On cross-ownership between Musk’s entities:

  "...could see down the road they'll have ownership of SpaceX, some piece as well... probably comes into some sort of broader holding structure, you know, under Musk down the road." [09:55]

Managing the Dan Ives AI Revolution ETF (IVES) [10:24-15:55]

• Why become a fund manager?
  Ann highlights Ives’ transition from analyst to direct asset management.

• Do engineer-CEOs fare better in AI?
  Ives says there’s no single formula; it’s about identifying “second, third derivatives” of AI.

  "We've talked about, you know, in terms of that question, the party, it started off at 9pm in the AI party. It's now about 10:15. That party goes to 4am..." [11:21]

• ETF Performance & Growth:

  "We crossed $100 million in your first week... Now you're at about 500 million.

  "That's 700 million. So we're 700 million as of today." [12:49]

• On changing holdings:

  "...it changes every quarter. We could add some, take out some based on, you know, what we think is happening, but it's a way for investors to basically bet on our strategy." [12:56]

• ETF compared to QQQ or Ark:

  "Ours, it's a pure play AI ETF... The biggest risk for investors in this is that you just own the Mag 7. ...You have to focus on the second, third, fourth derivatives. That's what we spend all of our time doing." [14:40]

• On industrials as future AI plays:

  "As the trillions are spent, you're going to have companies transform that today are viewed maybe as industrial... but maybe a year from now viewed as almost more tech or disruptive tech." [15:55]

EightCo Holdings (ORBS) & Worldcoin Acquisition [16:02-17:48]

• On joining as chairman:

  "...I wasn't going to join as chairman of a company just to do a DAC or a crypto strategy. The reason I'm doing this is because Worldcoin... this is iris scanning technology... In my opinion it's much more of an AI tech infrastructure play than a crypto play." [16:17]

• Importance of authentication:

  "I don't think AI will hit its heights without true human proof authentication." [16:45]

• Warning on "AI imposters":

  "...just because it comes as AI 30 times in a conference call doesn't mean that they're AI." [17:26]

On Being a "Tech Bull" and Possible Conflicts [18:26-20:12]

• On being an evangelist:

  "It's all related to AI. ...Obviously, partnering with Sam Altman is... just the beginning of this next leg... ultimately it gives you even just a better perspective in terms of where the tech's trending." [19:04]

• ETF Research:

  "...when the ETF came out... investors like, you know, like, oh, this is different. And I think it was pretty quickly understood... this is based on the research." [19:53]

Final Picks, Overrated Names, and Dynamic Investing [20:12-22:58]

• On Oracle and Social/Consumer AI

  "Ellison's been major steps ahead of others, right, in terms of understanding the stack... I actually think the street is still underestimating where Oracle is going to go." [20:49] "When you look at Pinterest, some of the others... we're not there yet... but the whole beauty of this, it's dynamic. Every quarter you could add or subtract names..." [21:21]

• On overrated AI names:

  "Just because a company says AI 30 times in a conference call doesn't mean that they're AI driven... That's all the work that we do trying to... understand the winners from maybe the posers." [21:48]

• On a major underestimated winner:

  "It’s the Messi of AI, that's the one... People underestimate Carp, they underestimate Palantir... and then a trillion, they're going to be doing the same." [22:31]

Notable Quotes & Memorable Moments

• On the AI Investment "Party":

  "The party, it started off at 9pm in the AI party. It's now about 10:15. That party goes to 4am... The bulls had a lot better night than the bears." - Dan Ives [11:21]

• On Palantir:

  "It's the Messi of AI. I believe it's going to a trillion dollars next two to three years because there is no better solution when it comes to AI use cases in Palantir." - Dan Ives [06:30]

• On Musk & Tesla:

  "Musk is Tesla, Tesla is Musk." - Dan Ives [08:53]

• On AI ETF Differentiation:

  "The biggest risk for investors in this is that you just own the Mag 7... You have to focus on the second, third, fourth derivatives." - Dan Ives [14:40]

• On "AI imposters":

  "Just because the company says AI 30 times in a conference call doesn't mean that they're AI driven." - Dan Ives [21:48]

Timestamps for Major Segments

• Cracker Barrel activist story: [00:01-02:14]
• Ann introduces Dan Ives & stakes: [02:45-04:58]
• Rapid-fire on Adobe, Intel, Palantir: [04:58-07:30]
• Meme stocks & misunderstood companies: [07:30-08:17]
• Tesla, Musk, and his ecosystem: [08:17-09:55]
• ETF rationale, growth, approach: [10:24-15:55]
• Traditional companies as future AI plays: [15:17-15:55]
• EightCo (Orbs), Worldcoin, real AI vs. pretenders: [16:02-17:48]
• Ann on Ives as analyst vs. Silicon Valley evangelist: [18:26-20:12]
• Oracle’s AI role, evolving ETF picks, overrated names: [20:12-22:58]
• Final picks (Palantir as “Messi of AI”): [22:31]

Tone and Style

• The tone is fast-paced, sharp, and conversational, with an undercurrent of financial savvy and market skepticism. Ann Berry asks challenging, well-researched questions; Dan Ives answers confidently, deploying memorable analogies and direct opinions.

Conclusion

This episode offers a behind-the-scenes look at how a top tech analyst identifies winners in the AI boom, why AI is poised to transform even the most traditional companies, and why selectivity–not just buying FAANGs–is Ives' core message to investors. Palantir, Tesla, Oracle, and infrastructure plays are highlighted as top opportunities, with Ives warning listeners to be alert for “AI imposters.” The ETF is billed as a pure-play approach for those serious about placing their AI bets, distinct from broader tech funds.

For listeners seeking actionable insights on tech investing, AI, and ETF strategy—and a candid view from a Wall Street tech bull now deploying capital—this episode is essential.