Bitcoin Is Closer to a Breakout Than People Think | Dan Ives

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Feb 13, 2026

Dan Ives, Global Head of Technology Research at Wedbush and a top AI and U.S. tech analyst. He explains why the tech selloff is disconnected from fundamentals. He outlines AI-driven CapEx, the data center and chip multipliers fueling a multi-year tech build-out. He links AI strength to bitcoin and argues current drawdowns create buying opportunities.

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INSIGHT

Multi-Year AI Buildout Underway

Dan Ives argues we are in year three of an eight-to-ten year AI buildout, not a bubble.
He sees current selloffs as disconnected from fundamentals and an early phase of a multi-year tech bull cycle.

ANECDOTE

On-The-Ground Chip Factory Observations

Dan Ives recounts spending long days in Taiwan fabs to see chip demand firsthand.
He contrasts that view with distant skeptics who call tech a bubble from office towers.

INSIGHT

CapEx And Data Centers Validate AI Demand

Ives highlights massive CapEx and data center buildouts as objective evidence for AI's longevity.
He calls the current market pullback a buying opportunity given demand, multiplier effects, and underpenetration globally.

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Dan Ives is the Global Head of Technology Research at Wedbush Securities and one of the most widely followed analysts covering AI and U.S. tech. This conversation was recorded live at Bitcoin Investor Week in New York. In this discussion, Dan explains why the recent selloff in software is disconnected from fundamentals, how AI CapEx is driving a fourth industrial revolution, and why U.S. tech remains structurally ahead. We also discuss the relationship between AI and bitcoin, the current risk-off environment, and why Dan believes we’re still early in a multi-year tech bull cycle.

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0:00 - Intro
0:22 - Is the tech bull market over?
1:55 - Why do people want U.S. software companies to fail?
4:30 - If tech is up 20%, what happens to the S&P 500?
6:16 - Are AI & Bitcoin actually connected?
9:02 - Do power and data center constraints limit AI’s upside?
13:22 - How robotics will change labor & profits
15:45 - Where does bitcoin go over the next few years?
17:06 - Which tech companies are misunderstood or undervalued?
19:30 - Are we near a market bottom?