IVES AI 30 Outlook Update: Monetization Moves to the Forefront
Dan Ives and the Wedbush Securities Inc. (WSI) research team have updated their outlook as the AI Revolution continues to advance, with monetization coming further into focus alongside continued capital investment. While the foundational pillars remain intact, the next phase is increasingly defined by enterprise adoption, scalable use cases, and revenue realization across software, platforms, and services.
AI remains in its early innings, with global spending accelerating across enterprises, governments, and international markets. The focus is shifting toward execution: turning AI investments into measurable productivity gains, cost efficiencies, and monetizable products.
IVES AI 30 Updates
As part of this update, Dan Ives and the WSI research team made targeted adjustments to the IVES AI 30 to reflect where monetization and demand visibility are becoming most apparent.
Additions to the IVES AI 30
- CoreWeave (CRWV): Added as demand for AI-optimized compute continues to exceed available capacity, positioning the company as a key beneficiary of enterprise and hyperscaler AI deployments.
- IREN Limited (IREN): Added for its role in supporting high-performance computing needs, addressing practical constraints as AI workloads scale.
- Shopify (SHOP): Added as AI monetization expands into commerce, with agentic tools, personalization, and automation driving incremental revenue opportunities across its ecosystem.
Removals from the IVES AI 30
- SoundHound (SOUN): Removed amid a more competitive landscape and execution risks, despite continued long-term interest in voice-enabled AI.
- ServiceNow (NOW): Removed as AI adoption across the platform has yet to translate into consistent, visible monetization.
- Salesforce (CRM): Removed following a slower-than-expected ramp in AI-driven monetization, though the long-term opportunity remains intact.
Monetization Becomes the Defining Theme
Enterprise AI has moved from experimentation to deployment, with budgets increasingly allocated toward solutions that deliver tangible productivity improvements. AI is now influencing a growing share of IT spend, as organizations prioritize use cases that can scale across workflows and industries.
Second- and third-order effects are beginning to emerge across security, platforms, and operational software, as AI becomes embedded deeper into mission-critical systems. While compute and power constraints remain part of the backdrop, the dominant narrative is shifting toward monetization, execution, and return on investment.
Conclusion: From Buildout to Revenue
The AI Revolution continues to unfold as a multi-year technology cycle, with the next phase focused on monetization rather than experimentation. As adoption scales and use cases mature, the IVES AI 30 continues to evolve alongside the market, highlighting the companies potentially best positioned, to convert AI investment into sustainable growth.
Important Information
This content draws from the December 2025 AI Revolution report by Dan Ives and the WSI Research team. Excerpts are used under fair use for educational and informational purposes. All rights reserved to Wedbush Securities Inc.
This material is for informational purposes only and does not constitute investment advice or an offer to buy or sell any security. The views expressed are those of the authors and are subject to change. Investing involves risk, including loss of principal. Past performance is not indicative of future results.
References to specific securities are for illustrative purposes and do not constitute a
recommendation.
