Dan Ives calls tech selloff a golden buying opportunity

Wall Street analyst Dan Ives calls the recent tech selloff a "golden buying opportunity," arguing the decline reflects fear of an AI spending slowdown rather than an end to the artificial intelligence investment cycle. The selloff followed the US midterm elections, erasing hundreds of billions in market value and pushing the Nasdaq into correction territory. Ives recommends buying Nvidia and Applied Materials, noting AI capital expenditures could still reach $3-4 trillion, as projects with permits and funding are unlikely to be abandoned. Ives compares the downturn to the COVID crash of 2020 and the April 2025 tariff-driven correction, where patient investors were rewarded. He acknowledges risks including regulatory shocks or broad AI capex pauses but maintains that slowing growth differs from a thematic collapse.