Wall Street analyst Dan Ives has launched a new exchange-traded fund (ETF) to tap into the tech boom driven by artificial intelligence (AI). The IVES AI Revolution ETF, which tracks 30 stock picks from Wedbush Securities, aims to capture the growth of companies at the forefront of the AI revolution.
According to Ives, AI spending is expected to reach $2 trillion in the next three years, with Microsoft, Palantir, Meta, Tesla, Palo Alto Networks, and Nvidia being among the top performers. The ETF will trade under the ticker IVES and competes with existing AI funds from firms like iShares, Fidelity, and First Trust.
Ives believes that while trade tensions and tariffs may create uncertainty, they won’t alter his view on the AI revolution’s potential. “Two-trillion dollars is going to be spent over the next three years,” he said. “We’re still in the bottom of the first inning in terms of this non-inning game for AI.”
The ETF’s fund manager, Cullen Rogers, notes that Wedbush’s approach is different from other AI funds, which often rely on arbitrary revenue hurdles or qualifiers. Instead, Wedbush’s strategy is to follow Ives’ research and insights directly.
With this launch, Wedbush becomes the firm’s first ETF, aiming to capitalize on the growing demand for AI-focused investment products.
Source: https://www.foxbusiness.com/markets/wall-street-analyst-dan-ives-launches-ai-etf-tap-tech-boom