A new tech bull market is here - and expect strong second-quarter earnings to add more fuel to the rally, Wedbush analyst Dan Ives says

• A new tech bull market has arrived - and it's here to stay, according to Wedbush analyst Dan Ives.
• He said a strong earnings season next month is set to put "more fuel in the tank of this tech rally."

The artificial-intelligence craze has ignited a new bull market in tech stocks that'll set off a broader equities rally, according to Wedbush analyst Dan Ives.

"We believe a new tech bull market has begun to take shape being led by the AI Revolution; we expect to see a stronger 2Q earnings season for the tech space in the next month. We believe the stage is set for a tech earnings season put more fuel in the tank of this tech rally," Ives said in a tweet on Friday.

The Wedbush analyst has consistently projected a bullish outlook for US stocks, previously saying that a new AI-fueled rally will start elevating a broader group of tech stocks, beyond Big Tech names like Apple and Amazon.

"2q starts it the next month," Ives said in his most recent tweet, referring to the earnings season that will see companies release reports between mid-July and August.

Investor excitement over the rise of AI has defined markets this year, following the smashing release of human-like chatbot ChatGPT. It's helped boost the S&P 500 by about 14% this year, and seen investors pile into stocks best exposed to the fast-moving tech - such as semiconductor manufacturer Nvidia.

The Santa Clara-based firm has emerged as a clear winner from the AI boom, surging 179% so far this year to secure its spot in the elite club of companies with more than $1 trillion in market cap. Microsoft and Oracle are also among other tech companies that have seen huge gains this year.

Previously, Ives said the AI rush is the "fourth industrial revolution" that will see $1 trillion in investment over the coming decade.