Dan Ives Says CoreWeave, Cisco Earnings ‘Pieces of the Puzzle’ for AI Trade: ‘Get the Popcorn Out’

Chris KatjeWed, August 12, 2026 at 6:53 PM UTC

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CoreWeave Inc(NASDAQ:CRWV) stock is trading higher Wednesday after the company beat Street estimates and shared a strong backlog. The stock is one of two highlighted by tech investor Dan Ives this week that could show the momentum trade in AI is still in its early innings.

Dan Ives on AI Trade

Dan Ives has moved on from being an analyst at Wedbush, but he’s just as bullish on the AI sector in his new role leading Yorkville Ives.

With stock market indexes at record highs, Ives was recently asked if the momentum trade of AI will continue.

"It’s third inning, you could argue maybe even second inning in [the] AI revolution," Ives told CNBC earlier this week.

Ives said the AI trade is no longer just about Capex spending, but also about monetization.

The tech investor named both CoreWeave and Cisco Systems(NASDAQ:CSCO) as earnings to watch this week as "pieces of the puzzle" for the momentum.

"It continues to be ‘get the popcorn out.’"

Ives said those earnings could show momentum ahead of the highly anticipated quarterly results from NVIDIA Corporation(NASDAQ:NVDA) later this month.

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CoreWeave Results, Cisco on Deck

CoreWeave reported quarterly revenue up 112.5% year-over-year on Tuesday. The company reported a revenue backlog of $104 billion, with "unprecedented demand" for CoreWeave Cloud cited.

That backlog total doesn’t include more than $25 billion that was added early in the current quarter.

"Customer demand is accelerating, as enterprise adoption broadens and we continue to deepen our technology platform," CoreWeave CEO Michael Intrator said.

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After CoreWeave comes Cisco, with fourth-quarter results coming Wednesday after market close.

The company has beaten analyst estimates for revenue in four straight quarters and in eight of the past 10 quarters overall. Analysts expect the company to report a new quarterly record revenue total of $16.82 billion.

The company has also beaten analyst estimates for earnings per share in four straight quarters and in eight of the past 10 quarters overall.

Cisco stock jumped over 13% after the last quarterly results.

A strong double-beat from Cisco and guidance could see shares trade higher.

Momentum from CoreWeave and Cisco could carry forward the AI momentum trade heading into Nvidia earnings, as predicted by Ives.

Nvidia will report second-quarter financials on Aug. 26.

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