Wedbush’s Dan Ives says accelerating AI demand across Asia is reinforcing a bullish outlook for tech, with no visible cracks in the current buildout cycle.

AI Demand Accelerates Across Supply Chain

Ives told CNBC on Saturday that his Asia trip made him “incrementally more bullish,” citing strong demand signals from Taiwan and across chip supply chains.

He emphasized that the AI buildout shows no signs of slowing, supporting earnings momentum not just for hardware players but also for hyperscalers like Microsoft Corp. (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and Amazon.com Inc. (NASDAQ:AMZN).

He added that this demand strength created a “bright green light” heading into earnings season, with broader ripple effects expected across the software industry.

Supply Constraints Limited In Near Term

Ives said supply conditions remain stable despite energy and raw-material concerns in regions such as Taiwan, South Korea, and Japan.

He noted there are no immediate supply risks over the next few months, estimating a buffer of several weeks to a few months before any potential disruption becomes a concern.

He described the current environment as calm on the supply side, with demand—not supply—driving the narrative.

Software Rebound And Key Stocks In Focus

He pointed to a recovery in software and AI-related names, calling the earlier sell-off “the most disconnected” he has seen.

Ives highlighted hyperscalers and enterprise software companies as key to monetization, naming Palantir Technologies Inc. (NASDAQ:PLTR) and ServiceNow, Inc. (NYSE:NOW) as important barometers.

He added that concerns around software adoption still need validation, but maintains that the AI cycle remains early, describing it as “the top of the third” inning.

Price Action: Microsoft shares were down 0.44% at $420.94, Alphabet shares were down 0.75% at $339.11 and Amazon.com shares were down 0.63% at $248.99 at the time of publication on Monday, according to Benzinga Pro data.

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