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Dan Niles

Founder and Portfolio Manager, Satori Fund (Niles Investment Management)

Search every verified Dan Niles interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Dan Niles, founder and portfolio manager of Niles Investment Management, has made several media appearances in recent months to discuss his views on the AI trade, market conditions, and Federal Reserve policy. Niles has stated that he believes AI is "100%" in a bubble, though he does not expect it to burst for at least another year. He has expressed a bearish near-term outlook on the broader market, citing his rules to "not fight the Fed" and "not fight the bond market," and has said he expects the Fed to enter a rate hiking cycle. Niles has also warned that a "huge wave of bankruptcies" could come from neocloud companies, agreeing with a Gartner forecast that 80% of independent neoclouds will go bankrupt, and has argued that the economics of the AI boom will ultimately settle with full-stack hyperscalers such as Microsoft, Google, and Amazon. Niles has also commented on specific companies, saying he likes Meta and Alphabet. He has noted that Meta has introduced an API and an AI agent, and he suggested that a public cloud could be the next phase of Meta monetizing its AI spending. Regarding Alphabet, Niles said he likes the company "quite a bit," citing strong growth in Google Cloud and the integration of AI into search. He has also discussed risks to the AI trade, including potential over-ordering by customers facing chip shortages, political pushback against data centers in states like Texas, and competition from China in the semiconductor industry.

Recent appearances

  • Dan Niles "A Wave of Neocloud Bankruptcies Is Coming" — The Only Winners Are Microsoft, Google, and Apple; Everything Else Is Carnage (Full Interview Translation)

    October 16, 2026 · 📺 Cioni Media

    This video is a translated and edited version of an interview with Dan Niles (founder of Niles Investment Management) that aired on CNBC's 'Closing Bell Overtime' on October 15, 2026. Niles sees the economics of the AI boom ultimately settling on full-stack hyperscalers — Microsoft, Google, Amazon. He warns that hyperscalers are outsourcing excess capacity to neoclouds like CoreWeave, and when this structure collapses, a huge wave of bankruptcies will come from neoclouds. He agreed 100% with Gartner's forecast that '80% of independent neoclouds will go bankrupt,' and pointed out that companie…

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  • Dan Niles Tilts Bearish: How OpenAI Revenue Revision & Treasury Yields Tell Same Story

    October 08, 2026 · 📺 Schwab Network

    Dan Niles says he's currently bearish on the markets due to the Fed starting what he sees as a interest rate hiking cycle. Another central point of concern came Thursday when reports signaled OpenAI's annualized revenue will be $20 billion less than expected. Dan explains how the lower revenue expectations for the pre-IPO company creates a unique bear case for Meta Platforms (META), Amazon (AMZN), Alphabet (GOOGL) and other Mag 7 firms. It's a different case for Treasury yields, where Dan sees a bull case forming amid a slew of economic and macro headwinds. ======== Schwab Network ======== E…

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  • Dan Niles: Public cloud compute will be next phase of Meta monetizing AI

    October 05, 2026 · 📺 CNBC Television

    Dan Niles, founder of Niles Investment Management, joins CNBC's 'Squawk on the Street' to discuss his call on Meta and what's next for the tech giant.

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  • I view this as 'SCARE TACTICS': Expert on AI regulation debate

    September 29, 2026 · 📺 Fox Business Clips

    Niles Investment Management founder Dan Niles discusses the artificial intelligence debate over regulation on 'Making Money.' #fox #media #breakingnews #us #usa #new #news #breaking #foxbusiness #makingmoney #ai #artificialintelligence #technology #tech #regulation #business #investing #investors #markets #innovation #economy #danniles #niles Subscribe to Fox Business: https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/ FOX Business Network (FBN) is a financial news channel delivering real-time inform…

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  • Dan Niles: The AI Trade Has a Cisco Problem

    September 18, 2026 · 📺 RiskReversal Media

    Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, custody and clearing. LEARN MORE: https://apexfintechsolutions.com/?utm... Dan Nathan hosts Dan Niles of Niles Investment Management on the Risk Reversal podcast to discuss a rallying market amid a 5%…

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  • Dan Niles: We're going into a rate hike cycle so don't fight the Fed or the bond market

    September 15, 2026 · 📺 CNBC Television

    Dan Niles, Niles Investment Management founder, joins 'Squawk on the Street' to discuss what to expect from the Federal Reserve, rules investors should follow and much more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news world…

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  • Dan Niles: AI Won’t Kill Us—But Some AI Stocks Won’t Survive

    September 15, 2026 · 📺 In the Money

    👉 Click Here to Subscribe:    / @inthemoneypod   Dan Niles: AI Won’t Kill Us—But Some AI Stocks Won’t Survive | In the Money with Amber Kanwar Dan Niles doesn’t think AI wiping out humanity is a likely outcome—but he does think the technology could wipe out plenty of stocks. The Founder & Portfolio Manager of Niles Investment Management joins Amber Kanwar at a moment of peak AI anxiety to separate the existential fears from the very real investment risks. Niles believes AI is the biggest technological revolution since the internet and that agentic AI is still in its early stages, but he a…

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  • Bearish Into November. Room to Run After: Why Dan Niles Is Watching Hyperscaler Credit Default Swaps

    September 03, 2026 · 📺 Excess Returns

    Dan Niles joins Excess Returns to explain why he believes AI is a genuine revolution and a bubble at the same time, with significant opportunity still ahead but growing risks in semiconductors, software, AI CapEx and credit markets. We discuss NVIDIA, OpenAI, Anthropic, China’s semiconductor push, data center politics, AI debt issuance, Fed policy and the downside protection framework Dan uses to navigate technology cycles. Dan Niles on X https://x.com/DanielTNiles Niles Investment Management https://www.nilesinvestmentmanagement... Topics covered: Why AI can be both a transformational tec…

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  • Dan Niles: I have a simple rule, and that is don't fight the Fed

    August 28, 2026 · 📺 CNBC Television

    Dan Niles, Niles Investment Management founder, joins 'Squawk on the Street' to discuss Fed Chairman Warsh's Friday speech at Jackson Hole. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Onli…

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  • Dan Niles: AI is ‘100%’ in a bubble but don’t expect it to pop yet

    August 27, 2026 · 📺 CNBC International Live

    Niles Investment Management founder Dan Niles says AI is “100%” a bubble but sees little risk of it bursting for at least another year. He remains constructive on Nvidia’s risk-reward, while cautioning that chip shortages could prompt customers to over-order and make current demand signals and Nvidia’s 70% growth guidance look stronger than underlying demand.

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  • Has the software trade bottomed?

    August 17, 2026 · 📺 BNN Bloomberg

    Dan Niles, founder & portfolio manager at Niles Investment Management, joins BNN Bloomberg to discuss the outlook on the markets. +++ Subscribe to BNN Bloomberg to watch more videos:    / bnnbloomberg   Connect with BNN Bloomberg: For the latest news visit: https://www.bnnbloomberg.ca For a full video offering visit BNN Bloomberg: https://www.bnnbloomberg.ca/video BNN Bloomberg on Twitter:   / bnnbloomberg   BNN Bloomberg on LinkedIn:   / bnn-bloomberg   -- BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets. #BNNBloomberg #Canadiannews #Bus…

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  • The Real Reason Markets Are at Record Highs | Dan Niles

    August 08, 2026 · 📺 Stockology Insider

    Get the latest market performance update from Dan Niles. Learn why Treasury yields are easing and which tech stocks to watch now. Dan Niles provides a clear breakdown of current market performance as the Dow Jones and S&P 500 reach new record highs. This session is designed for investors looking to understand how macroeconomic shifts, specifically easing Treasury yields, are influencing major market indices and individual equities. Whether you are tracking broad market trends or specific sector movements, this analysis offers a grounded view of the current financial landscape. Beyond the ind…

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Verified interview transcripts

Notable quotes

“Well, I mean I think you bring up a great point, Marley, which is for the first time in a long time, you go, wow, I can get a pretty darn good yield between 5 to 6% on ten or the 30 year. And we haven't seen those levels like you hit levels you haven't seen since 2002 in both of those last week. And so you have now a risk free alternative. Well, theoretically risk free alternative to stocks, which are depending on ho”

“I would say I'm bearish because I have sort of simple rules: don't fight the Fed and don't fight the bond market. And we've seen the bond market continue to go up and rates keep pushing higher. And the Fed's going to raise in October. But they're on more of a hiking cycle because at the end of the day for 6 months, inflation has been above their expectations, focused on that. So I think between those two things and t”

“I've said this multiple times on your show Charles, but everyone thinks these companies will plan right. Go back to the internet and to where we are today. How many winners did you have coming up? One Google, but without any conference really going on what was best for me is really only one Netflix. The list goes on where technology is one of those markets where undertakers most. I think that with AI, the way I view ”

“At the end of the day, my goal is just to make money, right? And so it is going to be what is the perception of the move in the stocks in that short term, and what is your opportunity in the long term. Perception versus reality. Right now it is sad to see how many people are focused on this 10 percent chance that wipes out all of humanity. And quite honestly, I just look at that as a chance for leading companies to t”

“I still think we have another year or two before we hit the top. But it doesn't mean that there is a camp of people that believe we've seen the top right that circular investments coming back to roost and bond yields going up where they are when you have to raise debt now it's a lot more expensive than it used to be this talk about pacing by the big you know anthropic open AI certainly not helping and some of the arc”

“The big one's data center, right? Because AI has really powered the markets this year because if you look at the semiconductor index for the year, it's up over 60%. That's somewhere in the low teens percentage of the S&P 500. And so you take that out and that's a very small sector of the overall market. You got very minuscule returns for the rest of the market. And so what's going on in data center? Well, what really”

The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →