Tech could be a safe haven amid geopolitical uncertainty, say ETF experts

Dan Ives, Wedbush Securities global head of technology research, and Todd Rosenbluth, VettaFi director of research, join CNBC's Dom Chu on ETF Edge to debate where the tech trade goes amid the geopolitical uncertainty and if there are areas of the market sheltered from the changing situation.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Yahoo

2 hours ago

• Yahoo

Dan Ives Says Market Is 'Massively Underestimating' This AI Play, Urges Investors To Look Beyong Mag 7

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Dan Ives' new artificial intelligence exchange-traded fund (ETF) holds securities beyond the Magnificent 7 stocks, as he believes in looking past valuations for investments in the technology sector. What Happened: The Dan IVES Wedbush AI Revolution ETF (NYSE:IVES), managed by the Wedbush analyst, started trading on June 4, earlier this month. Ives boasts of the fund by saying that it just doesn't have the top four, five Magnificent 7 names, but stocks which investors wouldn't even thematically consider as an AI name today. "I believe the market is still massively underestimating what the growth is going to look like for the AI revolution in tech," he told CNBC. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — According to him, tech trade remains significant even for the investors who missed out on its growth in the past few years. "If you focus just on valuation, you miss every transformational tech stock of the last 20 years," Ives said. Ives says Oracle Corp. (NYSE:ORCL) will be the 'epicenter' of the AI theme, while highlighting other 'AI 30' stocks which are part of his fund. Palantir Technologies Inc. (NASDAQ:PLTR), International Business Machines Corp. (NYSE:IBM), Salesforce Inc. (NYSE:CRM), SoundHound AI Inc. (NASDAQ:SOUN), and Innodata Inc. (NASDAQ:INOD) are a few notable names that are a part of his ETF's 'AI 30' basket. Microsoft Corp. (NASDAQ:MSFT), Nvidia Corp. (NASDAQ:NVDA), and Broadcom Inc. (NASDAQ:AVGO) are the top three holdings of the IVES It Matters: The 'AI 30' stocks, which are a part of the IVES ETF, hold the AI plays from multiple industries. They include hyperscalers, cybersecurity, consumer platforms, and robotics. According to Ives, the list was compiled from his deep dives into major AI players. The ETF has $183 million in assets under management as of June 17 close. Ives said that the AI space was experiencing a "golden age." The Dan IVES Wedbush AI Revolution ETF has risen by 2.76% since its inception. A comparable index, S&P Kensho Global Artificial Intelligence Enablers, rose 6.08% on a month-to-date basis. Meanwhile, the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, declined slightly on Wednesday. The SPY was down 0.015% at $597.44, while the QQQ was 0.017% lower at $528.99, according to Benzinga Pro data. Read Next: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Shutterstock This article Dan Ives Says Market Is 'Massively Underestimating' This AI Play, Urges Investors To Look Beyong Mag 7 originally appeared on

Business Insider

4 hours ago

• Business Insider

Meta's CTO says OpenAI's Sam Altman countered Meta's massive AI signing bonuses

OpenAI CEO Sam Altman said Meta was trying to poach AI talent with $100M signing bonuses. Meta CTO Andrew Bosworth told CNBC that Altman didn't mention how OpenAI was countering offers. Bosworth said the market rate he's seeing for AI talent has been "unprecedented." OpenAI's Sam Altman recently called Meta's attempts to poach top AI talent from his company with $100 million signing bonuses "crazy." Andrew Bosworth, Meta's chief technology officer, says OpenAI has been countering those crazy offers. Bosworth said in an interview with CNBC's "Closing Bell: Overtime" on Friday that Altman "neglected to mention that he's countering those offers." The OpenAI CEO recently disclosed how Meta was offering massive signing bonuses to his employees during an interview on his brother's podcast, "Uncapped with Jack Altman." The executive said "none of our best people" had taken Meta's offers, but he didn't say whether OpenAI countered the signing bonuses to retain those top employees. OpenAI and Meta did not respond to requests for comment. The Meta CTO said these large signing bonuses are a sign of the market setting a rate for top AI talent. "The market is setting a rate here for a level of talent which is really incredible and kind of unprecedented in my 20-year career as a technology executive," Bosworth said. "But that is a great credit to these individuals who, five or six years ago, put their head down and decided to spend their time on a then-unproven technology which they pioneered and have established themselves as a relatively small pool of people who can command incredible market premium for the talent they've raised." Meta, on June 12, announced that it had bought a 49% stake in Scale AI, a data company, for $14.8 billion as the social media company continues its artificial intelligence development. Business Insider's chief media and tech correspondent Peter Kafka noted that the move appears to be an expensive acquihire of Scale AI's CEO, Alexandr Wang, and some of the data company's top executives. Bosworth told CNBC that the large offers for AI talent will encourage others to build their expertise and, as a result, the numbers will look different in a couple of years. "But today, it's a relatively small number and I think they've earned it," he said.

CNBC

5 hours ago

• CNBC

Supreme Court rejects fast track of Trump tariff challenge by toy companies

Key Points President Donald Trump's tariffs, a key part of his trade agenda, have drawn legal challenges from businesses and individuals questioning his authority to implement the high levies. The Supreme Court ruling gives the Trump administration more time to file its response to the challenge from two toy companies. The two toy companies argued that the International Emergency Economic Powers Act did not give Trump the authority to implement his tariffs. The Supreme Court on Friday rejected a request from two toy companies to expedite their challenge to President Donald Trump's tariffs. The ruling from the nation's high court means that the Trump administration now has the standard 30-day window to file its response to the challenge. Two small family-owned companies, Learning Resources and hand2mind, argued that Trump lacked authority under the International Emergency Economic Powers Act to impose his April 2 tariffs. The companies earlier this week asked the Supreme Court to expedite consideration of their challenge and bypass a federal appeals court. "In light of the tariffs' massive impact on virtually every business and consumer across the nation, and the unremitting whiplash caused by the unfettered tariffing power the president claims, challenges to the IEEPA tariffs cannot await the normal appellate process," the companies argued in their request. Rick Woldenberg, the chairman and CEO of Learning Resource and hand2mind, told CNBC that the Friday Supreme Court decision "was a disappointment but honestly just another twist in the road." "You want to win every motion but sometimes you don't," he said, adding that, "ultimately this showdown will be at the Supreme Court." Trump declared a national economic emergency under the IEEPA to justify implementing his tariffs without first getting congressional approval, a strategy that has drawn legal challenges from businesses and individuals questioning his authority The U.S. Court of International Trade last month temporarily blocked Trump's tariffs, saying that the IEEPA, which became law in 1977, does not authorize a president to implement universal duties on imports. But a federal appeals court earlier this month allowed Trump's tariffs to remain in effect until it hears arguments on that case at the end of next month. — CNBC's Lori Ann Wallace contributed reporting.