Ives Sees AI Trade Still in 'Early Innings'

Dan Ives, leading Yorkville Ives, sees the AI trade as still in its early innings. Despite stock market indexes at record highs, he remains bullish on the sector.

In a recent CNBC interview, Ives stated that the momentum trade is no longer just about Capex spending but also about monetization. He pointed to CoreWeave and Cisco Systems (CSCO) as key earnings reports to watch this week, calling them 'pieces of the puzzle' for the AI momentum.

CoreWeave reported a 112.5% year-over-year revenue increase on Tuesday, with a $104 billion revenue backlog attributed to 'unprecedented demand' for its Cloud services. The company also added over $25 billion in new business early this quarter.

Cisco's fourth-quarter results are due Wednesday after market close. Analysts expect the company to report record revenue of $16.82 billion, building on four consecutive quarters of beating estimates.