Technology analyst Dan Ives is leaving Wedbush after eight years to launch a new investment banking venture, with the longtime Wall Street bull saying he will share more details on his next chapter soon.
Moving On From Wedbush
“After 8 years at Wedbush, I am leaving the firm this week,” Ives said in a post on X.
He added that he was “excited” about the next chapter of his career and would share more details on the new venture “soon.”
Ives did not elaborate on the venture, while Wedbush said he was departing the firm to establish a new investment banking business.
The firm added that Wedbush fund advisers will continue managing the IVES and IVEP ETFs.
‘Modern Merchant Bank’
According to CNBC, Ives’ new firm will operate as a “modern merchant bank,” combining research, strategic advisory, capital raising and investing.
"But in looking at the next opportunity, it’s to create a modern merchant bank with great partners, long-term capital and something I think will change the way Wall Street looks at investment banks." Ives said in an interview with the network.
Ives added that he intends to continue covering technology stocks in a research capacity while building the broader business.
Ives did not immediately respond to Benzinga’s request for comments on his new venture.
Beyond Wall Street
Known for his bold, brightly colored jackets and vibrant patterns during television appearances, Ives launched a fashion brand last year as an extension of his signature Wall Street style.
Ives has been one of Wall Street’s most prominent AI bulls, maintaining bullish views on companies including Nvidia Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT) and Palantir Technologies Inc (NASDAQ:PLTR) throughout the AI boom.
He has also referred to Nvidia CEO Jensen Huang as the “Godfather of AI.”
On Tuesday, Ives said Elon Musk-led Space Exploration Technologies Corp. (NASDAQ:SPCX) should be viewed not only as a space company but also as a major artificial intelligence infrastructure play.
Benzinga edge rankings indicate NVDA has a Momentum score in the 64th percentile and a Growth score in the 98th percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Things on Shutterstock.com
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