00:00Let's bring in Dan Ive, who's the Global Head of Technology Research at Wedbush Securities.
00:04And as you say, Dan, it is all happening.
00:06Do you think market conditions are going to prove challenging,
00:10given each of these companies could potentially have that vacuum effect?
00:17I mean, look, in my view, I mean, this is really, it's a tidal wave of IPOs that are coming,
00:23but they're all at the heart of the AI revolution.
00:26And I think to some extent, when you look where we are, we continue to believe this AI party started
00:329 p.m.
00:33It's about 11.30 p.m. Party goes to 4 a.m.
00:37This is going to continue to play out.
00:40Trillions of dollars being spent, open AI, Anthropics, SpaceX front and center.
00:45I don't view this as any sort of speed bump for this market.
00:50Dan, we had an interesting piece on our MLive blog talking about the self-limitation of the success for some
00:57of these companies
00:58and that the raise by Alphabet Google is an indication of that because of the sort of stellar outperformance in
01:06its share price,
01:07resulting in increasing tax liabilities as well.
01:10Do you look at that as perhaps an underserved part of the risk profile?
01:16Look, I mean, there's always going to be risk with everything happening here,
01:20but with companies, they're going to have to spend, I mean, look, a trillion dollars of CapEx next year for
01:26big tech.
01:27So when you look what Alphabet's doing in terms of the raise,
01:30you'll see more and more of it in terms of debt raises and potential stock sales.
01:34There's going to be a thing around the edges,
01:37but the reality is that companies cannot watch this from the stands.
01:42They got to dive in the deep end of the pool.
01:44And the reality is, is that, you know, it's part of our view, like NASDAQ 30,000.
01:50We continue to see a multi-year bull market playing.
01:54And I think the bears will continue to watch this AI revolution and bull market in those hibernation caves
02:01because they can't see AI in spreadsheets.
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