Summary of the September 2025 AI Revolution Institutional Report
IVES AI 30 Update: Changes to the AI Revolution List
Dan Ives and the Wedbush research team have updated the IVES AI 30: adding CrowdStrike (CRWD), Roblox (RBLX), GE Vernova (GEV), and Nebius (NBIS) while removing CyberArk (CYBR), C3.ai (AI), Adobe (ADBE), and Elastic (ESTC). These changes reflect how AI adoption is scaling across industries and how new bottlenecks – from grid power to cyberattacks – are creating derivative beneficiaries.
The update comes as the AI Revolution enters its next gear of growth. Nvidia remains the anchor for compute, with AMD (Advance Micro Devices) and others supplying critical chips as GPU (Graphics Processing Unit) demand continues to outstrip supply. Hyperscalers are leading a wave of cloud and AI momentum, while consumer internet platforms like Amazon, Alphabet, and Meta stand to benefit as AI capabilities flow into e-commerce, search, and recommendations. Strength in software earnings underscores how the consumption phase is accelerating.
Additions to the IVES AI 30
- CrowdStrike (CRWD): Strong momentum in cybersecurity, with Charlotte AI and data-protection modules driving adoption and deal flow.
- Roblox (RBLX): AI-driven discovery is improving engagement and monetization, supported by a developer-friendly incentive model.
- GE Vernova (GEV): Benefiting from data-center electrification and grid management needs as hyperscaler buildouts accelerate.
- Nebius (NBIS): Expanding capacity to meet robust AI infrastructure demand, which continues to outstrip supply.
Removals from the IVES AI 30
- C3.ai (AI): Leadership changes and a sales reorganization create near-term headwinds.
- CyberArk (CYBR): Removed following its acquisition by Palo Alto Networks (PANW), which remains in the AI 30.
- Adobe (ADBE): Concerns over disruption risk in its product portfolio and a slower-than-expected start to AI integration.
- Elastic (ESTC): Public-sector softness, though the team remains constructive on the company’s longer-term potential.
Urgency & Opportunity
2025 is shaping up to be an inflection point year for AI spending and use cases. Enterprises are moving from idea to scale, with budgets tilting toward deployments that deliver measurable productivity gains. The second- and third-order effects are now visible at the edge: security, platforms, and the infrastructure that keeps data centers online. Power and electrification are emerging as clear derivative beneficiaries within the Autonomous/Robotics segment, reflecting the real-world constraints of running AI at scale.
Conclusion: The AI30 Evolves With the Revolution
The AI Revolution is no longer just about chips and cloud. Security, consumer platforms, and power infrastructure are now in focus—and that’s reflected in the updated AI30. For investors, professionals, and technologists, the AI30 continues to serve as a roadmap to the companies shaping this generational cycle.
Important Information
This content draws from the September 2025 AI Revolution report by Dan Ives and the Wedbush Research team. Excerpts are used under fair use for educational and informational purposes. All rights reserved to Wedbush Securities Inc.
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