Dan Ives: Software 'doomsday' scenario is extremely overblown

• Big Tech's CapEx of $650-700 billion is a central driver for the AI revolution, with an 8-10x multiplier effect across tech infrastructure.
• The current tech and software sell-off is 'overblown' and 'disconnected,' presenting a 'golden buy opportunity' for established winners.
• AI represents the 'fourth industrial revolution' with real use cases and established enterprise install bases, unlike the dot-com bubble.
• 2026 is projected as an inflection point for AI, marking year 3 of a 10-year AI revolution cycle.

Dan Ives of Wedbush Securities argues that the current software sell-off, driven by AI disruption fears, is 'extremely overblown.' He believes massive CapEx spending by Big Tech will fuel an accelerating AI revolution, creating a 'golden buy opportunity' for established winners in the tech and software sectors, despite some pure-play losers.