Dan Ives said his recent Asia trip made him incrementally more bullish on AI demand, arguing he saw no cracks in the AI buildout and that this should support hardware, hyperscalers, and eventually software into earnings season.
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In this CNBC interview, Dan Ives of Wedbush discussed a recent two-week Asia trip focused on AI demand checks. He said the trip made him “incrementally more bullish” because demand in Taiwan and across the chip supply chain appeared to be accelerating rather than fading. His core message was that there are no visible cracks in the AI buildout from a demand perspective, which he believes is constructive not only for hardware names and hyperscalers like Microsoft, Alphabet/Google, and Amazon, but also for the software trade as monetization improves. The conversation also touched on supply-side concerns, including energy and raw-material constraints in places like Taiwan, South Korea, and Japan. …
Near term, the trade looks supported as long as AI demand stays firm into earnings and no supply shock emerges. The immediate risk is that software continues to lag even if semis stay strong, leaving the next move vulnerable to rotation rather than broad confirmation.
Over the next few weeks to months, the base case is a continued AI-led advance that broadens from hardware into cloud and enterprise software if results confirm monetization. A shift in that path would require either weaker capex guidance or evidence that demand checks are running ahead of actual revenue.
Structurally, this remains an early-cycle AI infrastructure story, with chips, cloud, and software all tied to a longer monetization arc. The lasting question is whether the buildout turns into durable earnings power across the stack or whether software disruption fears eventually cap the beneficiaries.
Ives came away from his Asia trip incrementally more bullish on AI demand.
He directly said the trip made him more bullish.
He is not seeing cracks in AI buildout demand across the supply chain.
He said demand accelerated in Taiwan and across chip players and supply chain demand.
AI demand is bullish for hardware, hyperscalers, and eventually software.
He explicitly walked through hardware, hyperscalers, and software ripple effects.
Did anything from your Asia trip trip you up?
Ives said he came away incrementally more bullish.
Was energy supply shock discussed in Taiwan, South Korea, and Japan?
He said supply conditions felt calm and that there was no near-term supply issue likely to show up in earnings season.
Which companies are you watching most closely in earnings season?
He emphasized software, especially Microsoft, Amazon, Palantir, and ServiceNow, as key names for AI monetization.
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