In an interview on December 31, Dan Ives, a well-known tech bull and analyst at Wedbush Securities, shared his personal views on AI tech stocks, energy, and the US-China tech competition, starting with the upcoming Consumer Electronics Show (CES). He stated that the market has underestimated the "depth and breadth" of this AI revolution and believes that the current volatility is more like a breather in the middle of a party than a bursting bubble.
CES became a key stage, and AI officially entered the physical world.
Dan Ives pointed out that the upcoming CES will be a major turning point in this technological cycle. He specifically mentioned NVIDIA CEO Jensen Huang's speech during the show, which is expected to set the tone for "autonomous robots" and "physical AI".
In his view, CES is no longer just a venue for showcasing talking refrigerators or cutting-edge consumer electronics, but has officially been upgraded to the core stage of the AI revolution, covering chips, software, robots and industrial applications, marking the accelerated transition of AI from the digital world to the real economy.
The bullish trend in technology stocks continues; the first half of 2026 will be a key observation period.
In response to market skepticism towards tech stocks, Dan Ives stated that he does not agree with the notion that "the tech stock rally is over." He pointed out that even with short sellers, skeptics, and a wait-and-see attitude in the market, the first half of 2026 could still be a period of strong performance for AI and tech stocks.
He believes that investors are still underestimating the structural impact of AI on the overall technology industry, especially in terms of software and long-term applications, which means the bullish trend in the technology sector is not yet over.
As software and derivative applications emerge, the influence of AI continues to spill over.
Dan Ives specifically cautioned that the market is overly focused on a few star stocks, neglecting the broader beneficiaries across the entire AI supply chain. He named software companies such as Palantir, MongoDB, and Snowflake, as well as AI infrastructure and cybersecurity companies like CrowdStrike and Palo Alto.
In his view, the impact of AI is not limited to the first layer of hardware, but will continue to spread to the second, third and even fourth layers of applications. Software and derivative applications are the key links that are currently underestimated by the market.
The chip race still has a dominant player, and the US-China technology landscape is changing.
Regarding the recent correction in large-cap tech stocks, Dan Ives pointed out that from AMD, TSMC, Microsoft to Oracle, related stocks have all experienced significant pullbacks. However, this does not mean that the AI revolution is cooling down, but rather that the market is digesting the pace.
Regarding the chip competition, he stated frankly that although large tech companies such as Google and Amazon are actively catching up and supply chain challenges remain, Nvidia still maintains a technological lead of several years. He described Nvidia's status as "the only godfather in the chip industry who wears a black leather jacket, and that is Jensen," noting that even with Chinese export restrictions, Nvidia's high-end chips still maintain high demand.
In addition, he pointed out that this is the first time in 30 years that the United States has a clear overall lead over China in the field of technology, a point that is often overlooked by the market but is of key significance to the investment environment.
Unlisted giants and energy bottlenecks will shape the next stage of AI development.
In response to concerns about a tech bubble, Dan Ives argues that the market is actually undervaluing AI behemoths that are yet to go public. He specifically names SpaceX, Anthropic, and OpenAI, pointing out that these companies, despite not being publicly traded, have already absorbed significant demand and capital, creating an imbalance between supply and demand for large growth stocks.
At the same time, he repeatedly emphasized that the biggest limitation of the AI revolution is not demand or application scenarios, but energy and regulation. He pointed out that the current demand-to-supply ratio for Nvidia chips in Asia is as high as 12 to 1, but the key issue is whether there is enough power to support the expansion of data centers.
Therefore, he believes that nuclear energy and energy infrastructure will become crucial supporting players in the next stage of AI development. At the end of the interview, Dan Ives also clearly stated that AI is currently closer to 1996 than to the peak of the dot-com bubble of 1999-2000, indicating that this technological revolution is still in its early diffusion stage.
This article, "Tech Stocks Continue to Rally in 2026! Dan Ives: Jensen Huang's CES Speech Sets the Tone," first appeared on ABMedia .
