Is AI Taking Money & Attention Away From Bitcoin? | Dan Ives

**Dan Ives** (0:00)
Remember, what Anthropix has done is unbelievable. But you start that type of fear?
That's the thing, then all of a sudden, data centers don't get built. You have politicians get more focused on regulation of models. You start to go closer to Europe from the data privacy. Meanwhile, China at that point is like foot on the pedal. That's the thing that to me, that I worry about the most, is the self-created PR problem.

**Anthony Pompliano** (0:27)
What's going on guys? Today, we've got a great conversation with Dan Ives. He's the head of tech research at Wedbush. And in this conversation, we dive deep into the AI trade. He explains what he's excited about, what he's worried about. He shows you where there is actual capital flowing. And then he takes us around the world as he goes on a trip and he tries to understand what's happening on the ground. We also talk about the impact from the macro environment, what's going on with Bitcoin and crypto. And then Dan zooms out and explains what needs to change in order for AI to become more adopted globally and actually usher in the age of abundance that everyone is so excited about. Here's my latest conversation with Dan Ives.
Dan, let's start with SpaceX. Obviously, everyone is anticipating this IPO. It's supposed to be the biggest IPO in history. How do you view the positives and negative impact of this company coming public?

**Dan Ives** (1:10)
Look, I mean, this is really, it's defining what's going to be a new sector. No different than tech or retail. It's space. And I think there's misnomers because to me, SpaceX is going to be about defining space in terms of data centers in space.
The business components. Then they say, we're talking like joy rides in space for 20 seconds. And it's really going to be almost a convergence of tech. And this new sort of, what I view is like a spatial revolution. It all starts with SpaceX. But there's so many names like Planet Labs, Rocket Labs, Voyager, whatever. And this is just the start. But it comes down like from Musk.
It's a watershed moment, not just for him, but what I view is kind of for the market. And really it's starting to now create a whole another category in terms of what this is going to mean.

**Anthony Pompliano** (2:08)
So the company started off as just rocket launches and trying to make reasonable rockets and cheaper launches. But now it went into satellites. And then there's almost this like big promise of the orbital data centers. And it seems like that's coming right at the time where everyone on earth is like, hey, we may not have enough space or power or data centers. So how much of this is evaluating the existing business versus people buying into the future vision of what it could be?

**Dan Ives** (2:31)
Eighty percent of it future.

**Anthony Pompliano** (2:33)
Interesting.

**Dan Ives** (2:34)
If you look at it currently, are you would you have two trillion or trillion and a half? Would you know? In other words, it goes back to like, what will this become? But then it comes down to like, if you bought Intel when US put at stake, it wasn't just on that, it was like, can they become a player in AI?
With NVIDIA, it wasn't just about like going after AI, it's like what eventually will happen if they're able to, not just monetize enterprise, but create physical AI when it comes to chips. So I think that continues to really be the focus for SpaceX, because it's Musk. And then we've talked about, like we view it, we've said 80%, that SpaceX to merge eventually with Tesla in 2027

**Anthony Pompliano** (3:23)
Yeah, so you think 80, 85% of SpaceX, Tesla merging in 2027, not like just some point in the future, but literally by next year.

**Dan Ives** (3:29)
Because I think it's important that, so just take a step back, like why is there a trial Musk-Altman? This is despite like personal beef and just all the things that have happened there. I mean, a lot of it really comes down to Anthropic, OpenAI, then down here, it's like XAI or SpaceX AI. So now it's like, how are you gonna converge? No different what has Google done with Gemini. Data.
Data is the new oil and gold. You converge, merge SpaceX and Tesla.
From a data perspective, forget all the hyperboles and different like biggest IPO ever, this would really create from a data perspective, so now it'd be unmatched that I believe would enable Musk to really narrow the gap from a model perspective versus an Anthropic OpenAI.