Dan Ives says AI regulation could boost cybersecurity stocks
Dan Ives says rising AI security flaws and the push for federal regulation could make cybersecurity a much larger part of the AI investment trade.
A growing risk of hacks in the artificial intelligence sector could highlight the investment opportunity in cybersecurity stocks, a technology expert says in the call for federal regulation. Dan Ives on AI Regulation While he’s no longer a tech analyst at Wedbush, Dan Ives remains a well-known name in the finance world and is now leading Yorkville Ives, a merchant bank targeting the AI sector. In a recent interview with CNBC, Ives spoke out about the need for regulation for the AI sector as major security flaws become more present. " The flip side of regulation and increased control could mean innovation is stifled and the sector becomes politicized, Ives warned.
There is also a risk that America’s AI efforts will fall behind those of other countries, such as China. " Ives said there needs to be more industry leaders involved in the push for regulation and in regulation efforts. Read Also: Dan Ives Says CoreWeave, Cisco Earnings ‘Pieces of the Puzzle’ for AI Trade: ‘Get the Popcorn Out’ Cybersecurity Stocks The comments from Ives on Monday follow a recent interview in which he said cybersecurity spending could see a surge in the coming years. Ives said previously that cybersecurity will be an essential layer of the AI technology stack.
"I believe cybersecurity spend could double over the next two to three years," Ives said in the interview. The two cybersecurity stocks highlighted by Ives in recent months have been CrowdStrike Holdings Inc (NASDAQ: CRWD ) and Palo Alto Networks Inc (NASDAQ: PANW ). While at Wedbush, Ives helped launch Wedbush AI Revolution ETF (NYSE: IVES ), which contains stocks related to the AI trade, including several cybersecurity stocks. 2%.
Based on Ives’ comments for the growth of cybersecurity and these being his two top picks, these could be stocks for investors to consider for exposure to this section of the AI sector. Read Also: SpaceX Caught in a ‘Capex Tug of War’ — Dan Ives Says Investors Are ‘Buying Musk, Buying the Vision’ Photo via Shutterstock