Ives Sees AI Trade in Early Inning, Points to CoreWeave and Cisco Earnings

Dan Ives, leading tech investor and Yorkville Ives head, believes the AI trade is in its early stages. He called it 'the third inning' or even 'second inning in [the] AI revolution.'

Ives pointed out that while Capex spending was once a major factor, monetization has become just as important. To support this claim, he mentioned earnings from CoreWeave and Cisco Systems.

CoreWeave recently reported quarterly revenue up 112.5% year-over-year, with a $104 billion revenue backlog and 'unprecedented demand' for its Cloud service. This growth doesn't include the over $25 billion added to the current quarter's total.

Cisco Systems will report fourth-quarter results on Wednesday after market close. Analysts expect Cisco to break its record revenue total of $16.82 billion, which it has beaten in four straight quarters and eight of the past ten.