Dan Ives: AI Revolution Only 10-15% Through, Bullish for NVDA

Wedbush analyst Dan Ives told CNBC on May 29 that the AI revolution is still in early innings, with only 10–15% market penetration realized. This follows Gavin Baker’s May 27 thesis that Anthropic could eclipse NVIDIA’s $5.2 trillion valuation, citing Anthropic’s jump to a $45 billion annualized revenue run rate and $900 billion private valuation. Ives likened today’s environment to 1996–1997 and pointed to accelerating enterprise AI spend that should lift data, infrastructure and software names including Snowflake, Datadog and Palantir, reinforcing the bullish case for NVIDIA and other AI-exposed equities.