Dan Ives Says Market Is Only 15% Through the AI Buildout, With $3 Trillion to $4 Trillion of Spending Ahead

Wedbush's Dan Ives believes the market is still less than 15% through the AI buildout, with $3 trillion to $4 trillion of spending ahead. He says the next wave of opportunities is expanding from chips and hyperscalers into software and cybersecurity.
In an interview at Zeta Live, Ives discussed $NVDA, $MSFT, $AAPL, $CRWD, $SNOW, $GOOGL, $MRVL, $AVGO, and where he sees the AI trade heading into 2027.
The conversation also covered his top picks, the memory supercycle, the U.S. versus China, and why he thinks Wall Street keeps getting distracted by bearish narratives.