Wedbush analyst Dan Ives is taking a definitive step to validate his faith in AI. On Wednesday, Wedbush Fund Advisers launched the Dan IVES Wedbush AI Revolution ETF. The new ETF will begin trading on the New York Stock Exchange under the ticker symbol IVES.
The Wedbush AI Revolution ETF will offer investors the opportunity to follow Dan Ives and invest in his favorite AI plays. It will be tracking an index that consists of the companies from Wedbush’s Ives AI 30 research list.
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“It’s based on our research. So as new companies come in, then some companies could come out. This is a living organism, in terms of this AI 30. It’s not static. And that’s a key part of the theme here, because the theme will continue to evolve.”
Cullen Rogers, chief investment officer at Wedbush Fund Advisers, will be in charge of the ETF’s day-to-day operations.
“We’re kind of walking this line between active and passive. … We’re just looking to leverage Dan’s ideas as well as we can in an institutional framework, in this index, that gives investors a consistent, predictable structure.”
According to Ives, the fund is launching as the AI boom is expanding beyond those initial big winners.
“The AI revolution theme is now going from semis to software, to infrastructure, to consumer and the other derivatives.”
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q1 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. Bloom Energy Corporation (NYSE:BE)
Number of Hedge Fund Holders: 44
On June 4th, RBC Capital analysts reaffirmed their “Outperform” rating on Bloom Energy Corporation (NYSE:BE) with a price target of $26.00.
The firm is confident in Bloom Energy’s long-term and short-term opportunities. In particular, it has highlighted the increasing demand for electricity and grid constraints as factors making co-location solutions favorable. The firm also lauded Bloom’s internal initiatives, which aim to reduce product costs and further underscore the firm’s positive outlook.
The company’s reach and influence in the energy sector are also seen to be expanding, as management has recently addressed concerns related to regional policies. Last year’s AEP announcement was also highlighted as a positive catalyst, accelerating discussions with other utilities.
Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation, helping meet the growing energy demands of AI data centers.
9. Fortinet, Inc. (NASDAQ:FTNT)
Number of Hedge Fund Holders: 62
On June 4th, Fortinet, Inc. (NASDAQ:FTNT) announced a new AI-powered Workspace Security Suite, the FortiMail Workspace Security, along with powerful FortiDLP upgrades, aiming to better protect modern businesses.
The new capabilities allow FortiMail to be recognized as one of the broadest and most customizable email security platforms, protecting beyond email to incorporate browser and collaboration security.
Together with new features in FortiDLP, Fortinet’s next-generation data loss prevention (DLP) and insider risk management solution, users will be able to avail a unified, AI-powered approach to safeguarding users and sensitive data across today’s dynamic work environments.
By integrating artificial intelligence with integrated email, browser, collaboration, and data security, the company aims to offer better protection for security teams so that they can turn complexity into clarity and threats into easier tasks handled.
“In today’s evolving threat landscape, securing user productivity and sensitive data requires a unified strategy that considers both outsider threats and insider risks. Cybercriminals are aiming their efforts right at users and increasingly leveraging tools like FraudGPT, BlackmailerV3, and ElevenLabs to automate the creation of malware, deepfake videos, phishing websites, and synthetic voices—making attacks more scalable, convincing, and difficult to detect. With our expanded AI-powered FortiMail Workspace Security suite and FortiDLP solutions, Fortinet empowers organizations to stay ahead of threat actors and insider risks while ensuring users, data, and productivity remain secure.”
-Nirav Shah, Senior Vice President, Products and Solutions at Fortinet.
Fortinet, Inc. (NASDAQ:FTNT), a cybersecurity company, provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products.
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