Dan Ives Believes Nvidia Dominance Is Underestimated, Says AI Spending Proves Skeptics Wrong: Report
Synopsis
Speaking to Bloomberg Television, Ives described Nvidia’s latest results in glowing terms and emphasized the scale of its projected $78 billion revenue outlook for the upcoming quarter.
Dan Ives, managing director at Wedbush Securities, reportedly said on Thursday that Wall Street is still failing to grasp the scale of demand driving Nvidia Corp.’s (NVDA) growth, particularly in artificial intelligence and data center spending.
Speaking to Bloomberg Television, Ives described Nvidia’s latest results in glowing terms, comparing its performance to that of basketball legend Michael Jordan and emphasizing the scale of its projected $78 billion in revenue for the upcoming quarter.
“The street continues to underestimate Nvidia’s demand. What we saw from Nvidia, the AI bubble eccentric gets thrown out the window.”
-Dan Ives, Managing Director, Wedbush Securities
Nvidia’s stock traded over 1% higher in Thursday’s premarket.
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