Dan Ives Flags $4T AI Runway as Snowflake and Datadog Surge

Wedbush analyst Dan Ives reaffirmed his bullish stance on AI software on June 3, projecting $4 trillion in eventual spending and spotlighting Snowflake and Datadog after both delivered strong Q1 results and raised guidance. The comments build on the prior day’s outlook from Janus Henderson’s Jonathan Cofsky, who positioned TSMC and Arm as the true AI enablers ahead of pure GPU plays. Snowflake reported $1.39B revenue (+33%) while Datadog posted $1.0B revenue (+32%) and $52.6M net income, with the Nasdaq CTA Artificial Intelligence Index already up 118% since January 2024.