We are Only 'Third Inning Relative to this AI Game,' Says Dan Ives

• CoreWeave's stock volatility is seen as a 'false narrative' and a buying opportunity due to strong demand and backlog, similar to the 'SaaS apocalypse' earlier this year.
• Memory chip demand is accelerating significantly (30-40% in 60-90 days), with a 13:1 demand-to-supply ratio, indicating robust AI growth.
• The overall AI market is only in the 'third inning,' with substantial growth and capital expenditure multipliers expected, despite potential political pushback on data centers.
• Apple is positioned as the 'toll collector' for the consumer AI highway, with significant upside potential (e.g., $400-450 price target), while Microsoft dominates enterprise AI.

Dan Ives discusses the AI market, viewing current concerns around CoreWeave as a 'false narrative' and a buying opportunity. He highlights strong demand in memory and chips, indicating the AI game is still in its early stages. He sees significant upside for companies like Apple and Microsoft due to their positions in consumer and enterprise AI, respectively, despite potential data center backlashes.