Dan Ives: Anthropic’s growth is 'just the tip of the sphere' for AI rally

Anthropic is rapidly approaching a staggering $1 trillion valuation following its latest funding round, highlighting a burgeoning investor interest in artificial intelligence, as noted by Dan Ives, an analyst at Wedbush Securities. Speaking on CNBC's "Squawk Box Europe" on Friday, Ives emphasized that the U.S. is, for the first time in three decades, leading the technology race against China. With Anthropic's valuation reaching $965 billion after securing $65 billion in funding, Ives believes this growth is merely 'the tip of the sphere.' He urged investors to also consider companies focused on data layers, such as Snowflake, Datadog, and InnoData, indicating a trend in tech spending that goes beyond just AI. Ives forecasts a bullish future for the Nasdaq, predicting it could exceed 30,000 points by 2027. This optimism is part of a larger context that anticipates a wave of significant IPOs in 2026, including those from major players like SpaceX, Anthropic, and OpenAI. Ives referred to these firms as the 'three pillars of the fourth industrial revolution,' highlighting Anthropic as the best AI model currently available. However, the prospect of these IPOs has raised alarms among some analysts, who liken the situation to the late-1990s dot-com bubble. SpaceX's impending IPO, expected to be the largest in history, aims for a valuation of $1.75 trillion on the Nasdaq. Both OpenAI and Anthropic have also expressed intentions to go public soon, although none of these companies have yet reported an annual profit. Notably, Anthropic anticipates achieving its first profitable quarter in its upcoming earnings report. John Blank, chief equity strategist at Zacks, cautioned that this surge in mega IPOs might indicate a market peak, reminiscent of the rush seen in 1999. Despite this, Ives maintains that the current market resembles 1997 more than 1999, suggesting a lower risk of a bubble at this time.