Dan Ives frames Nvidia as still in the “third inning” of the AI revolution, argues for buying the dip after a pullback

Analyst Dan Ives is telling investors they may want to stay engaged with Nvidia even after a pullback, using a sports metaphor to argue that the biggest benefits from the AI wave may be coming later rather than sooner.

In the commentary, Ives says the market is in the “3rd inning of the AI revolution,” positioning Nvidia as a company that could continue to benefit as AI deployments expand beyond early experiments.

The pitch is also framed as a repeat of a pattern seen in past market cycles: buying Nvidia on dips, Ives argues, has historically worked out for investors, and he implies that the current pullback could present a similar opportunity.

Ives stops short of laying out specific new milestones or company numbers in the provided material, instead relying on the idea that AI adoption is progressing and that Nvidia’s exposure to that shift remains intact.

The “third inning” framing matters because it indicates a particular timeline view. Rather than treating the current period as the peak of a short-term trade, it suggests the analyst sees the AI buildout as still in progress, with additional rounds of spending and deployment to follow.

For the AI sector more broadly, the commentary reflects a familiar tension investors face after pullbacks in high-expectation technology stocks. Markets can reprice risk quickly, even when long-term demand narratives are unchanged, and analysts often try to separate near-term volatility from longer-term trajectory.

In this case, the available information does not include detailed disclosures about why the pullback occurred, how much impact the analyst expects from specific customers or programs, or what Nvidia’s next quarter needs to look like to confirm the thesis.

What to watch next, based on the thrust of the argument, is whether subsequent market updates and company communications reinforce the idea that AI demand is continuing to broaden, not just concentrating in early adopters. If the market’s timeline for AI spending shifts again, that could either strengthen or weaken the “third inning” view.