SpaceX's listing did not drain the well, the tech rally will continue - broker

Wedbush’s Dan Ives argues SpaceX’s listing did not siphon capital from the broader tech and AI trade, easing fears that chip stocks would suffer from investor rotation. He says the recent weakness in semiconductors was driven by positioning ahead of the debut, not deteriorating fundamentals, and calls the outcome a “Goldilocks” scenario because the sector held up after the deal. Ives remains constructive on tech into the second half of 2026, citing strong demand checks in Asia and continued AI spending across chips, hardware, software, energy and data-center infrastructure. He also expects OpenAI and Anthropic to pursue listings later this year, which could further boost the AI investment cycle. Key beneficiaries, in his view, include the data-layer names Palantir, Snowflake, Datadog and Innodata. The article is bullish on the AI build-out and suggests market concerns about capital exhaustion were overdone.