Dan Ives Picks His Favorite Tech Stock Outside the Mag 7: Palantir

Wedbush analyst Dan Ives has repeatedly said that we are still early into the AI boom — especially when asked about whether AI is a bubble. That extreme positioning perfectly encapsulates the sentiment in the market these days. Market commentary often calls out the AI trade as risky and possibly in bubble territory, but Ives has been bullish on AI since the beginning.

Recently, Ives was asked about his favorite stock outside of the “Magnificent Seven,” and his answer was a company that he’s been talking about a lot over the past few years: Palantir (PLTR). Palantir is positioned as the software layer of AI. As hyperscalers spend billions on AI infrastructure, Palantir can comfortably sit on top of that spending and capture the usage layer. Since AI infrastructure spending isn't showing any signs of slowing down, it can be reasonably concluded that Palantir’s bull thesis hasn’t fully played out.