AI is the 'fourth industrial revolution' - and will see $1 trillion in investment, Wedbush analyst Dan Ives says
, the tech stock expert characterized the rise of the groundbreaking technology as the"fourth industrial revolution."
"I think this is the fourth industrial revolution playing out. This is something I call a 1995 moment, parallel with the internet. I do not believe that this is a hype cycle," Ives said. "I think this is really transformational changes to technology that I think would change the tech space for the next 20-30 years," he continued, adding that the US equity market is at the cusp of a fresh tech bull market.
US stocks, especially in the tech sector, have rallied this year as investors piled into companies exposed to AI, following by the successful release of OpenAI's ChatGPT. While the S&P 500 has risen about 14% so far this year, the Nasdaq 100 has seen an impressive 36% surge since the start of January.
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