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Bloomberg Talks

Wedbush's Dan Ives Talks AI Tech Competition

26 Nov 2025

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 18.756 Michelle Hussein

Hello and welcome. This is The Michelle Hussein Show. I'm Michelle Hussein. I speak with people like Elon Musk. I think I've done enough. And Shonda Rhimes. That's so cute. This will be a place where every weekend you can count on one essential conversation to help make sense of the world.

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19.257 - 27.267 Michelle Hussein

So please join me, listen and subscribe to The Michelle Hussein Show from Bloomberg Weekend, wherever you get your podcasts.

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27.367 - 29.43 Paul Sweeney

You certainly ask interesting questions.

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32.903 - 36.171 Michelle Hussein

Bloomberg Audio Studios. Podcasts.

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36.191 - 50.961 Unknown

Radio. News. This is Daniel Ives of Wedbush. First of all, rocking it out of Las Vegas with Aston Martin. For those of you on radio, he's got the real jacket on, like the kind that Lance Alonso wears and all that.

50.981 - 64.142 Unknown

In Formula One, with all the excitement, Apple taking over the broadcast, Cadillac coming in next year, when you're in the pit like you were, what's the thing that you don't know when you watch on TV?

64.342 - 81.861 Dan Ives

I think, I mean, my experience with F1, I think the thing that people don't realize, not just how loud it is, but especially like when you're in there and you actually have like the headphones on and you hear them talking to the drivers, just the complexity. I mean, that's the thing. It's like, it's really amazing. Did you change your tire?

81.841 - 90.354 Dan Ives

I did, but I will tell you at Indy 500, I came close to almost changing tires. Okay.

90.374 - 98.546 Paul Sweeney

Investors can own it, Tom. Security. Liberty Media. You can own Formula One. F-W-O-N-K is the ticker. Perfect. Liberty Media. You can own it as a public investor.

Chapter 2: How does Dan Ives view Nvidia's role in the AI revolution?

101.47 - 116.269 Unknown

Paul's dying to get to NVIDIA and the Google thing and all that. Why is Apple doing Apple TV? It's called dead TV because no one watches it. They got some product out. They've had some successes. But why waste their time on that?

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116.418 - 140.181 Dan Ives

Yeah, I mean, to me, it's really, it's all about where they're ultimately going to take this. I mean, in the future, and we'll see as Apple ultimately goes down the path with Gemini in terms of the AI future, they need to have as wide of a content lens as possible. And I think when you look at Apple TV, it's all part of, look, the quality speaks for itself. Quantity's been the issue.

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140.541 - 144.265 Dan Ives

But for them, it's just they're going to continue to have irons in the fire. That's what they're going to do.

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144.245 - 151.377 Unknown

The TV show Pluribus, it's a sci-fi thing. She's home all alone. Everybody around her is like a droid. She's watching surveillance.

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151.638 - 152.018 Paul Sweeney

It was great.

152.359 - 154.162 Unknown

Why don't you get to NVIDIA right now, Paul?

154.422 - 168.105 Paul Sweeney

So, Dan, the AI story here took a little bit of a turn over the last couple of days here. Meta placing a big chip order with Google. Further calling to question the position or the dominance position of NVIDIA. Give us your thoughts about that.

168.185 - 184.512 Dan Ives

I mean, look, Google TPU, especially with Broadcom and TSMC as the builder, that's been around for over a decade, right? So it's not that it's new per se. I think the issue comes down to demand supply for NVIDIA chips are 12 to 1.

184.492 - 188.02 Paul Sweeney

So the reality is that... Demand to supply of NVIDIA chips 12 to 1. Wow.

Chapter 3: What are the implications of Meta's chip order with Google?

590.599 - 609.78 Dan Ives

It's all about the future. I believe autonomous and ultimately optimist will be the most important chapter ever in Tesla's growth story. And I think now Musk being wartime CEO, having the comp package, you know, potentially trillion dollar man, this will now define Tesla.

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610.121 - 624.645 Dan Ives

And I also think you're going to see a regulatory roadmap that's going to ease when it comes to autonomous, specifically on the robo taxi build that you're going to have 30, 35 cities. And I think Waymo is basically going to be a rounding error relative to where I see Tesla.

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624.625 - 652.405 Unknown

Let's go to our three radio stations. Good morning, 92.9 FM Boston, 99.1 FM Nathan Hager Radio in Washington. Here, Bloomberg 1130. How does a robo-taxi get across the Charles River right by MIT? How does a robo- You turn left there. It's sport. How does a robo-taxi get around DuPont Circle? How does a robo-taxi get down Fifth Avenue right outside the Trump Tower? I don't get it.

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652.385 - 657.061 Dan Ives

Look, I mean, if you look, it's data driven. I mean, the reality is, is that.

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657.081 - 663.964 Unknown

Is your proof of concept that they can handle normal urban traffic?

664.231 - 685.868 Dan Ives

Everything I've seen, and obviously we've been there in Austin, you're going to continue to see it expand across many cities over the next few months. I believe we're there. Now, I'm not saying that you're going to see the geofence area continue to expand, but it's my view, next few years, 20% of cars on the road

685.848 - 692.239 Dan Ives

Whether it's New York City, whether it's Boston, whether it's Chicago, you're going to look around and you're not going to see a driver.

692.339 - 694.664 Unknown

Enough chat. What's your single best buy right now?

Chapter 4: How does Nvidia's chip demand compare to supply?

694.684 - 696.186 Unknown

Is it Meta or is it something different?

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696.387 - 701.375 Dan Ives

I mean, to me, single best buy right here is Microsoft relative to what we see in terms of the stock.

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701.395 - 702.878 Unknown

Why is it down?

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702.858 - 723.265 Dan Ives

Because the view that now Google, now Amazon, others on the hyperscale are going to sort of eat their lunch. Look what's happened to Oracle as well. Look, New York City cab drive was bearish on Alphabet and Google to start the year. Today, they're bearish on Microsoft. And I think that's why that has a $100 upside.

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723.665 - 732.304 Unknown

Okay. On Microsoft, just as one example... Are they open AI Sam, what's his name, Sam Altman?

732.324 - 733.468 Paul Sweeney

Sam Altman, yeah, sure.

733.488 - 736.678 Unknown

Are they down because they're affiliated with Sam Altman?

736.777 - 756.736 Dan Ives

I think just like Oracle, there's that too big to fail concept, right? Where anyone that touches open AI, that's ultimately been an overhang. But it comes down to like, that would be like me being like, okay, if I could have more Peter Luger steak, would I have it? Or would I rather own White Castle?

756.816 - 758.7 Unknown

With the Amex you got at Wedbush, you got to be good.

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