Dan Ives, partner at Yorkville Ives, said in a CNBC interview that the AI revolution is in its third inning and that Nvidia is the one chip fueling it. He estimated only 15% of broader AI spending has occurred so far. Nvidia's forward price-to-earnings ratio is 22.9, the second-lowest among the Magnificent Seven, and its PEG ratio is 0.55. Ives noted demand for Nvidia's GPUs outstrips supply by 12-to-1. Nvidia's stock remains below its early May peak but recently regained the top spot as the world's largest company by market cap.
