Dan Ives Is Out at Wedbush — Here’s What His New AI Bank Could Mean for Tech Investors

TLDR

• Dan Ives is leaving Wedbush Securities after eight years to start a new merchant bank
• The firm will combine research, advisory, capital raising, and investing under one roof
• It will focus on artificial intelligence and related sectors including tech, energy, and financials
• Ives initiated coverage of SpaceX with an Outperform rating the day before notifying Wedbush of his departure
• His replacement at Wedbush has not yet been named

Dan Ives, one of the most recognizable technology analysts on Wall Street, has left Wedbush Securities. He spent eight years at the firm and more than 25 years covering technology stocks.

Ives announced he is starting a new firm he describes as a “modern merchant bank.” It will offer research, strategic advisory, capital raising, and investing in one place.

The new venture will focus on artificial intelligence and the structural changes it is creating across industries. Sectors targeted include technology, energy, and financials.

Ives told CNBC he plans to continue covering technology stocks in a research capacity while helping build the broader business. The firm is expected to be formally announced in the coming weeks.

He said the firm will recruit talent from across Wall Street. Ives has long been known for his bullish views on AI-linked companies and his frequent appearances on financial television.

Wedbush confirmed the departure in a press release on Wednesday. CEO Gary Wedbush called it “a natural step for Dan to seize an entrepreneurial opportunity.”

Ives notified Wedbush of his departure on Wednesday. His last day at the firm was also Wednesday.

SpaceX Coverage Timing Raises Questions

One day before notifying Wedbush, Ives initiated coverage of Elon Musk’s SpaceX with an Outperform rating. A CNBC anchor asked him directly about the timing.

Ives has held several roles outside his analyst position. In January, Barron’s reported he was an adviser to Zeta Global Holdings, a publicly traded marketing-tech company, and chairman of a separate tech firm.

Those roles were not regularly disclosed in his research reports at the time, raising questions from Wall Street experts about potential conflicts of interest. Ives began adding disclosures to social media posts after the Barron’s article.

Past Roles and Departures

In March, Ives stepped down as chairman of Eightco Holdings, a digital-assets company whose shares were trading at 71 cents. Crypto investor Tom Lee joined its board to fill the vacancy.

Ives had served as the face of two Wedbush exchange-traded funds. He also launched his own clothing line last year.

His replacement at Wedbush has not been named. The firm said the transition would mark “the next phase of growth” for its technology research and investment banking business.

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