Dan Ives: 'The AI goldrush has begun'

CGTN Europe

Managing Director and Senior Equity Research Analyst at Wedbush Securities Dan Ives speaks to CGTN Europe about Baidu, OpenAI, Nvidia and the artificial intelligence boom.

Transcript

00:00 The AI gold rush has begun.

00:02 I mean, we saw with Microsoft, of course,

00:04 we'll see what the godfather of AI,

00:07 Jen's in a video later, you look at Biot, that was strong.

00:10 And that's gonna be key to the growth areas

00:13 that you see in the 2024, investors like what they see.

00:17 - So we've seen this big upheaval, haven't we,

00:19 in the past couple of days in the world of AI,

00:21 moves at the top of OpenAI,

00:23 talk with their staff,

00:25 moving from one company to another.

00:27 You called it the start of the gold rush.

00:29 Do you think we are at the start of a new era

00:31 for artificial intelligence?

00:33 - I think this is the biggest tech transformation

00:36 that we've seen in 30 years.

00:38 I call it a 1995 moment, star of the internet,

00:41 in terms of what this is gonna be.

00:44 We think about trillion dollars of spend over the next decade

00:48 but when you look at OpenAI,

00:49 when you have a circus show, a clown show on that board,

00:54 that's why ultimately Microsoft had to come in

00:57 and ultimately sweep up, make sure Altman, Brockman,

01:00 everyone was in Microsoft,

01:01 'cause you essentially have a four person board

01:05 that's destroyed a 90 billion dollar company.

01:08 - So are we talking effectively about a battle

01:10 between monetizing AI and perhaps regulating it more closely

01:14 keeping ethics in mind?

01:15 - I mean, look, I think that's there,

01:18 but realistically, this is just the JV board.

01:21 These are essentially eight year olds playing checkers.

01:24 Maybe they got their feelings hurt,

01:26 some political back and forth thing like Altman

01:29 and then the Dell is the grand master chess wizard.

01:32 He comes in and resolve the whole situation.

01:35 Now this board, they're gonna face massive legal issues

01:40 as what they've essentially done here

01:42 will be a black eye in Silicon Valley

01:45 for probably decades to come.

01:47 - We're not just talking about Silicon Valley though,

01:48 are we?

01:49 I mean, there's lots of companies operating in the AI space

01:52 with so many making strides.

01:54 Do you think more competition will equal more progress?

01:58 - Oh yeah, I mean, I think this is,

02:01 I'll call it a gold rush,

02:02 but 2024, it's gonna be a massive inflection.

02:06 Use cases are exploding across the board.

02:09 And that's why when you see the godfather of AI,

02:13 Jensen in a video later today,

02:15 that's what they're gonna talk about.

02:17 It's all about use cases.

02:18 And I believe this is why the new tech bull market,

02:22 in our opinion, has already begun being led by AI.

02:27 - Let's talk about Nvidia.

02:28 You mentioned them another great set of results

02:31 expected later.

02:33 Now that we're seeing US-China relations

02:35 perhaps hit a more positive note,

02:37 how big do you think the company can get?

02:40 - I think it's gonna be a jaw dropper

02:43 relative to what we see from Nvidia.

02:45 I mean, look, these have been guidance numbers.

02:47 They're guidance heard around the world

02:50 because it really just shows

02:51 they're the only game in town when it comes to chips.

02:55 A little softening now, the China-US,

02:58 that's bullish for Nvidia.

03:00 - So where do you think they will expand into?

03:05 How much do you think we'll be seeing Nvidia products

03:07 in everything we use?

03:09 - I think, I look there right now, there's no other chips.

03:14 It's all led by Nvidia.

03:16 That's why even on the China side,

03:18 that's been a balancing act

03:19 that they're ultimately gonna benefit from.

03:22 And I think this is across consumer, across enterprise.

03:27 And that's essentially why they are the Don Corleone of AI.

03:31 - Dan, good to speak to you.

03:33 Thank you for joining us.

03:34 That's Dan Ives from Wedbush Securities.

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