With the tech supply chain gearing for unprecedented growth driven by the roughly $1 trillion of AI capex, the stage is set for tech stocks to rise into year-end and 2025, Wedbush analysts say in an industry note. The analysts estimate that for every $1 spent on an Nvidia GPU chip, there is a $8-$10 multiplier across the tech sector. While Nvidia and Microsoft are core drivers of AI, many other tech companies including Palantir, Salesforce, Dell, IBM, Apple, and AMD are now joining the AI party. “As more tech vendors show the monetization piece of AI this will ultimately drive the next leg of the tech bull market in a very stable overall IT spending environment that is a bullish backdrop for tech stocks in our opinion,” they add.