Dan Ives freshens up list of favorite AI stocks with additions of CrowdStrike, Roblox, GE Vernova, and Nebius

Dan Ives, longtime global head of technology research at Wedbush Securities and recent fashion designer, is giving his “AI 30” list of companies he says will “define the future of the AI theme over the coming years” a fresh look.

In a note on Sunday, Ives announced that these stocks were coming in:

• CrowdStrike, with the cybersecurity company a beneficiary of the growing importance of data protection as AI’s footprint increases.

• Roblox, whose “AI-driven discovery initiatives are driving increased platform adoption leading to stronger monetization over the coming quarters.”

• GE Vernova, a critical energy infrastructure provider to facilitate the AI data center build-out.

• Nebius, an Nvidia-backed cloud infrastructure provider that sees “demand still outstripping supply,” per Ives.

The AI 30 list feeds into the Dan IVES Wedbush AI Revolution ETF, which launched in the second quarter. It’s up 11.4% since inception, outperforming the Invesco QQQ Trust by a little more than 2 percentage points over this time.

Other AI stocks are just so last season.

By far the biggest name scrubbed from the list is Adobe, which is “off to a slower AI start than we had anticipated,” according to Ives.

C3.ai — a company whose ticker is literally AI — is also getting booted after recently reporting quarterly results that were described as “catastrophic” by analysts at DA Davidson and restructuring its sales team in light of what the CEO called its “unacceptable” performance.

Elastic has been bounced from this circle of trust, with Ives saying the company “is seeing some slowdown in the public sector” while he now sees other companies with better AI prospects.

CyberArk, meanwhile, is getting cut for the best reason: it’s getting acquired by Palo Alto Networks, another stock in the IVES AI 30.