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January 23, 2025
Respiratory imaging technology company 4DMedical Limited (ASX:4DX, “4DMedical”, or the “Company”) today announces the signing of a commercial contract with Qscan Radiology Clinics ("Qscan"), a leading provider of diagnostic imaging services in Queensland. This agreement follows a successful pilot of 4DMedical’s products with Qscan, and represents the first Australian contract to incorporate products from both the Pulmonary Function and Pulmonary Structure suites, including CT LVAS™.
Pilot success leads to commercial agreement
With 40 clinics across Queensland, New South Wales, ACT, Tasmania, and Western Australia, Qscan is one of Australia’s leading medical imaging providers, offering a comprehensive range of diagnostic and interventional radiology services.
Following the success of a pilot program, which demonstrated the clinical and operational effectiveness of 4DMedical’s proprietary suite of products, 4DMedical and Qscan have entered a commercial arrangement under which Qscan will offer 4DMedical’s respiratory imaging solutions at select practices in Brisbane.
This agreement marks 4DMedical’s first Australian commercial contract to incorporate products from both its Pulmonary Function and Pulmonary Structure suites. Specifically, the agreement with Qscan will provide clinicians with access to CT LVAS™, Lung Density Analysis™ - Inspiration (LDAi), Functional Lung Density Analysis™ (LDAf), and Lung Texture Analysis™ (LTA), each providing advanced diagnostic capabilities to support referrers and patients.
Reports will be delivered and billed on a Software-as-a-Service model on terms in line with those of the Company’s other commercial partners.
4DMedical MD/CEO and Founder Andreas Fouras said:
Having completed our pilot with Qscan, we are excited to have progressed to a commercial agreement. This partnership ensures that more patients and clinicians have access to detailed, actionable insights into lung health, supporting better healthcare outcomes.
Momentum continues to build with the commercialisation of our technology across the US and Australia. With the addition of Qscan to our network of providers in Australia, I am excited to see our footprint expand to ensure our cutting-edge technology is now becoming more readily available to all Australians.
Click here for the full ASX Release
This article includes content from 4DMedical, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
09 April
ASX AI Stocks: 5 Biggest Companies
Artificial intelligence (AI) continues to evolve and advance rapidly, becoming increasingly integrated in the automation of everyday life and a focal point of growth in the technology sector.
According to a September 2023 report from IDC on worldwide AI spending, Australia, along with Korea and India, is leading the Asia-Pacific region in spending on AI solutions; the three countries are also leading when it comes to AI adoption in the area. Spending in the region, excluding Japan and China, is expected to reach US$28.2 billion by 2027.
Although the AI market is relatively small in Australia, it’s growing. To help investors understand the options available, the Investing News Network used TradingView's stock screener to find the top AI stocks on ASX by market cap. All ASX AI stocks data was current as of April 7, 2025. companies whose businesses are focused mainly on AI were considered.
1. NEXTDC (ASX:NXT)
Market cap: AU$6.82 billion
Share price: AU$10.00
NEXTDC is Australia’s leading data centre operator, with 17 functioning centres and at least 12 more in various stages of development throughout Oceania. The company has also forged several business and academic partnerships to enhance Australia's digital infrastructure, including a collaboration with La Trobe Business School’s Research Centre for Data Analytics and Cognition to research theoretical and practical applications of AI across a range of industries.
In August 2024, NEXTDC obtained NVIDIA's (NASDAQ:NVDA) DGX-Ready Data Centre Program certification, enabling it to optimize NVIDIA's AI platforms and power advanced AI data centres in Australia.
The company was also the recipient of the Pacific Telecommunications Council's Outstanding Data Centre Company award for 2025.
In March 2025, NEXTDC's Sydney location upgraded its AXON platform — a system that connects different cloud services and data centers — to offer super-fast 100 gigabits per second connections, which will help businesses use AI technology more effectively by providing the necessary high-speed and reliable links to their data and partners.
2. Megaport (ASX:MPI)
Market cap: AU$1.47 billion
Share price: AU$8.66
Megaport is a software-defined network service provider that allows enterprise customers to connect between data centres. The company offers a marketplace where customers can find and connect with various service providers within the Megaport ecosystem.
The firm's customer base includes cloud service providers like Amazon's (NASDAQ:AMZN) Amazon Web Services and Microsoft's (NASDAQ:MSFT) Microsoft Azure. Megaport's service also allows customers to link their own equipment across different sites and connect to internet exchange points.
Its Megaport Virtual Edge allows the deployment of virtual network devices like routers and firewalls without needing physical hardware in a data centre.
3. NUIX (ASX:NXL)
Market cap: AU$896.29 million
Share price: AU$2.55
Nuix specializes in investigative analytics and intelligence software, with tools to help organizations analyze and understand copious amounts of data using AI. Nuix's Natural Language Processing capabilities allow it to read unstructured formats, including emails and social media posts. Its machine learning algorithms include advanced abilities like semantic search and risk scoring to identify patterns and connections within the data.
Nuix can handle extremely large data sets, and its software is designed to operate at a forensic level, ensuring that data is collected and analyzed in a way that is legally sound and defensible in court. This gives Nuix a significant market share within the law enforcement and legal communities.
4. BrainChip (ASX:BRN)
Market cap: AU$380.77 million
Share price: AU$0.18
BrainChip is the company behind Akida, a revolutionary digital neuromorphic chip that’s built with a spiking neural network, a type of artificial network that mimics the way messages are passed between neurons in the human brain.
Because the AI is inside the chip, the chip can learn on its own and is not reliant on the cloud or other networks. According to the company, this makes it much more secure and reduces latency.
In June 2024, the company released a white paper for its newly developed technology, TENNs-PLEIADES, an efficient AI processor that can perform complex tasks like decision-making, object recognition and data analysis. BrainChip's lowest-power version of the chip, called Akida Pico, was released on October 1 of that year.
Unlike Akida, this chip is designed for spatiotemporal classification and detection using event-based data, making it particularly well-suited for low-latency applications such as self-driving cars.
BrainChip showcased its advancements in event-based vision at Embedded World 2025 and announced a partnership with Information System Laboratories focused on AI-based radar research solutions based on Akida.
5. Weebit Nano (ASX:WBT)
Market cap: AU$333.61 million
Share price: AU$1.46
While Weebit Nano isn't directly developing AI applications or algorithms, its core technology, Resistive Random-Access Memory (ReRAM), is positioned to be a crucial enabler for the future of AI, particularly in the realm of edge AI and neuromorphic computing. ReRAM's low-power operation and potential for high-density make it a promising memory technology for building neuromorphic chips.
Weebit Nano's target markets are heavily driven by AI, such as autonomous vehicles, robotics and advanced Internet of Things devices. As of March 2025, the company is collaborating with companies like Embedded AI Systems to demonstrate the advantage of ReRAM in ultra-low-power applications.
FAQs for investing in AI
What is artificial intelligence?
AI is defined as human intelligence exhibited by machines. The development of graphics processing units with faster and more powerful chips has supported the emergence of AI technologies.
Where is AI used?
AI has been heralded as a technology of the fourth industrial revolution, with heavy investment from industries including transportation, manufacturing, education and agriculture. Some of the sectors that will likely see the fastest AI investment growth in the coming years are healthcare, pharmaceutical research, retail, industrial automation, finance and intelligent process automation.
How to invest in AI stocks?
Investors looking to capitalise on AI's growth potential have a number of entry points when it comes to stocks. It's key for each person to practise due diligence and speak to their broker to determine the most suitable investments.
The companies listed above have a strong focus on AI, but investing in companies that are using AI as part of a larger business model is one way to gain indirect exposure to the sector. Examples of stocks like this on the ASX include Block (ASX:SQ2), WiseTech Global (ASX:WTC), Seek (ASX:SEK) and Xero (ASX:XRO).
For a more diversified approach, the Betashares Global Robotics and Artificial Intelligence ETF (ASX:RBTZ) invests in companies involved in the development of AI applications all across the globe. Investing in an exchange-traded fund is a low-cost way to benefit from a sector without directly buying individual stocks.
This is an updated version of an article first published by the Investing News Network in 2020.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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08 April
AI Market Update: Q1 2025 in Review
The first quarter of 2025 was dynamic and often volatile for the tech sector. Initial optimism, fueled by investor enthusiasm after a strong 2024, quickly gave way to economic headwinds and market anxieties.
Concerns over monetary policy, global trade tensions and individual company performances led to variations in tech stock valuations, with the Magnificent Seven ultimately experiencing losses by March.
However, Q1 also brought groundbreaking developments in artificial intelligence (AI), intense competition in the semiconductor industry and new developments in AI agents and robotics.
How did tech stocks perform in Q1?
The performance of major tech companies was influenced by a confluence of events and trends in Q1.
The sector began the year in positive territory, reflecting optimism from investors who saw US President Donald Trump’s November victory as a boon for business. However, this upward trend proved short-lived.
Economic headwinds, most notably cautious monetary policy and investor anxieties about global trade disruption, triggered a market downturn that resulted in periods of tech stock selloffs.
The tech market did demonstrate some signs of recovery in the final week of the quarter.
AI results impact major tech players
Outside overall market impacts, tech companies experienced their own fluctuations in Q1.
Intel (NASDAQ:INTC) was boosted by acquisition rumors and a stronger-than-expected Q4 performance, after starting the year down nearly 60 percent from January 2024. Leadership changes mid-March and reports of a restructuring to its chip-manufacturing business further improved the firm's share price performance.
More broadly, the market's response to earnings reports highlighted the significant impact of cloud computing, AI investment strategies and future guidance for Big Tech companies.
Amazon (NASDAQ:AMZN), for example, fell after its results revealed weakness in its cloud computing unit despite revenue that exceeded estimates. Similarly, Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) saw their share prices decline after capacity restraints were cited as a limitation for both companies.
In contrast, Meta Platforms (NASDAQ:META) surged after it announced substantial AI investments and released results that exceeded expectations. Meanwhile, concerns about Apple's (NASDAQ:AAPL) AI strategy and sales in Asia led to turbulence in its trading patterns throughout the quarter. Even NVIDIA's (NASDAQ:NVDA) share price initially dipped following strong earnings, driven by market concerns about competition and geopolitical tensions.
Emergent player CoreWeave's (NASDAQ:CRWV) journey to its initial public offering demonstrated the volatile and challenging nature of going public in the rapidly evolving AI sector. After its initial announcement revealed a 700 percent increase in 2024 revenue, the company made major moves leading up to its debut, acquiring Weights & Biases for US$1.7 billion before securing a five year, US$11.9 billion cloud services contract with OpenAI.
However, CoreWeave's March 28 IPO coincided with a hotter-than-expected inflation reading, and the company raised roughly US$1 billion less than its target, with both the number of shares and share price lower than expected.
China's DeepSeek makes AI market waves
Beyond individual company performances, the quarter was marked by key developments in AI.
The release of China's open-source AI model, DeepSeek-R-1, created a significant market disruption when it was reported to perform comparably to models from OpenAI and Anthropic at a significantly lower training cost: US$5.6 million compared to the US$500 million OpenAI reportedly spent to train o1.
The market’s reaction resulted in a 17 percent loss to NVIDIA's market cap, the largest single-day loss for any company on Wall Street. The Philadelphia Semiconductor Index (INDEXNASDAQ:SOX) lost 9.2 percent.
OpenAI’s Sam Altman expressed curiosity and excitement about the competitor, while others saw it as a development that could increase return on investment for companies using AI and drive further innovation.
“We still don’t know the details and nothing has been 100 percent confirmed … but if there truly has been a breakthrough in the cost to train models from US$100 million+ to this alleged US$6 million number this is actually very positive for productivity and AI end users,” said Jon Withaar, senior portfolio manager at Pictet Asset Management.
Since its release, DeepSeek has been noted to have potential issues with accuracy and security.
Other companies making strides in AI training speed this past quarter include Foxconn Technology (TPE:2354), which reportedly trained its large language model (LLM), FoxBrain, in four weeks.
Celestial AI secured funding to advance photonics technology for more efficient AI computing, and Cohere introduced Command A, an LLM focused on business needs and optimized for efficient inference.
Pluralis Research received funding for its work on decentralized AI systems and “protocol learning,” a method designed to enable collaborative and distributed AI model training.
NVIDIA's chip-making competitors
Competition within the chip industry heated up in the first quarter as AI spending enthusiasm shifted to other semiconductor companies and custom chip development advanced.
Barclay’s (NYSE:BCS,LSE:BARC) analyst Thomas O’Malley reaffirmed his "buy" rating for NVIDIA on January 20 and raised his price target to US$175, but warned that NVIDIA's customers are looking for alternatives to its GPUs.
He identified Marvel Technology (NASDAQ:MRVL) and Broadcom (NASDAQ:AVGO) as NVIDIA's biggest contenders, adjusting their price targets to US$150 and US$260, respectively.
For its part, Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSM) has continued to experience strong demand for its chip-making services. Its quarterly profits for Q4 2024 reached a record, and the company is anticipating strong revenue growth moving forward. The firm has planned significant investments in technology and capacity, including US$100 billion for new facilities to boost US chip production.
ASML Holding (NASDAQ:ASML), the sole producer of the EUV lithography machines crucial for advanced AI chips, also exceeded Q4 earnings expectations, resulting in a positive effect on its share price.
AI agents and other emerging tech
Looking ahead, the market for AI agents — autonomous entities that can take actions to achieve specific goals — is poised for expansion. At its annual GPU Technology Conference, held from March 17 to 21, NVIDIA's CEO emphasized a shift from generative AI to physical AI, describing AI agents as a “multi-trillion dollar opportunity."
Strategic acquisitions, such as ServiceNow's intention to buy Moveworks, underscore the growing importance of agentic AI in enterprise solutions. Amazon Web Services is developing a team focused on developing agentic AI, betting on increased client spending for automation. Meta is gearing up to test AI agents for small businesses, and OpenAI is developing premium agent offerings for business and academic pursuits.
While these advancements are exciting, challenges remain, with Gartner predicting a sharp rise in AI agent-related security breaches by 2028. To address reliability, Microsoft is developing "deep reasoning agents."
The first quarter of 2025 also signaled a major acceleration in robotics development, with Google's new Gemini Robotics models and partnership with Apptronik indicating AI and robotic integration. The US$2 billion valuation for Kyle Vogt's the Bot Company suggests the robotics sector is poised for growth and market expansion.
Advances like Eliza Wakes Up's humanoid and Figure AI's in-house development signal the potential for near-term commercial availability. Funding activity, with Field AI seeking a US$2 billion valuation and Aescape securing US$83 million in strategic funding, demonstrates investor confidence in the potential of robotics.
AI data centers signal growth
The massive investments in data centers announced in Q1 foreshadow an expansion of AI infrastructure.
The Trump administration has partnered with executives from Oracle (NYSE:ORCL), OpenAI and SoftBank (TSE:9984) for a four year, US$500 billion AI infrastructure project dubbed Stargate. MGX, an Abu Dhabi-based technology investment firm focused on AI, is another equity partner in the Stargate project.
Separately, MGX is a founding partner in the AI Infrastructure Partnership, a group that includes BlackRock (NYSE:BLK), Global Infrastructure Partners and Microsoft. It is reportedly aiming to invest up to US$100 billion in US and OECD AI infrastructure. NVIDIA and xAI joined the consortium in the first quarter.
This large-scale infrastructure development is mirrored by substantial investment and product development plans from individual tech giants. Apple, Amazon, Microsoft and Meta have all revealed plans for significant AI-related investments in the coming months that include data center builds and product releases, while NVIDIA has committed to spending "hundreds of billions of dollars in the US," emphasizing TSMC's manufacturing role in supply chain resilience.
OpenAI is also reportedly finalizing the design for its first in-house AI chip, with a long-term goal of mass production at TSMC by 2026; it is also in talks to build its first data center for storage in Texas near the Stargate data center.
These developments point to a future where data centers become the battleground for AI dominance, with significant implications for energy consumption, hardware demand and technological advancement.
Investor takeaway
Wrapping up the quarter, Nick Mersch, portfolio manager at Purpose Investments, hosted an "ask me anything" session on Reddit (NASDAQ:RDDT) to share insights on what investors should consider when evaluating tech stocks.
“The number one predictor of stocks over time is their earnings power. Invest in companies that are growing earnings more than the overall market and you will win. This is easy in theory but difficult in practice. You need to look at secular trends in order to skate to where the puck is going. It is much easier to pick a winner in a sector that has strong overall growth than picking through the rubble of a beaten-down industry," said Mersch.
“However, you do also have to recognize that sometimes, this is cyclical. That's why I like to pick companies that are what I call 'compounders.' These are companies that are growing both top line (revenue) and bottom line (earnings) at a solid rate and are reinvesting in new growth avenues. At the end of the day, you need cash flow generative companies."
Mersch added, “Look for three things — earnings, earnings, and earnings.”
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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28 March
Tech 5: CoreWeave IPO Falls Short, OpenAI Close to Completing US$40 Billion Funding Round
This week brought a fresh set of challenges to the tech sector, beginning with an announcement from the US Bureau of Industry and Security on Tuesday (March 25) of new export restrictions targeting 80 companies across Asia and the Middle East, impacting some of Big Tech’s key customers.
Consumer confidence weakened, further dampening market sentiment.
This was evidenced by the release of the Conference Board’s Consumer Confidence Index report on Tuesday, and the University of Michigan’s consumer sentiment survey, released on Friday (March 28).
Also on Friday, the latest US personal consumption expenditures price index data showed underlying inflation rising by 0.4 percent, renewing concerns over stagflation.
Combined, the latest data weighed on equities, and tech stocks led a broad market selloff on March 28 (Friday).
NVIDIA (NASDAQ:NVDA) ended the week 8.52 percent lower from its opening price on Monday (March 24), Meta Platforms (NASDAQ:META) logged losses of 6.22 percent and Microsoft (NASDAQ:MSFT) declined by 4.2 percent.
Meanwhile, Apple’s (NASDAQ:AAPL) share price pulled back by a modest 1.41 percent for the week.
Tesla (NASDAQ:TSLA) saw its price stage a bit of a recovery, ending the week 2.12 percent above Monday’s opening price, while other automotive companies like Ford Motor (NYSE:F) and General Motors (NYSE:GM) nursed losses following US President Donald Trump’s implementation of a 25 percent tariff on all auto imports.
Here's a look at other key events that made tech headlines this week.
1. BYD shares Q4 results, Tesla sentiment improves
BYD (OTC Pink:BYDDF,SZSE:002594), China’s top car brand, reported its fourth quarter results on Monday, with net profits totaling 15 billion yuan (US$2.1 billion), a 73.1 percent increase compared to the previous year, and revenue growth of 52.7 percent to 274.85 billion yuan (US$37.89 billion) for the same period.
Looking ahead, BYD expects to ship up to 5.5 million vehicles in 2025.
The company also said this week that 500 of the approximately 4,000 super-fast charging stations needed to support its electric vehicle (EV) infrastructure in China will be ready by April.
These projections from BYD come as rival EV maker Tesla staged a partial comeback this week after suffering a roughly 25 percent decline in its share price earlier this month.
Investor sentiment may have been lifted by analysis from CFRA Research analyst Garrett Nelson, who said Tesla is the “least exposed” to Trump’s sweeping 25 percent automobile tariffs, announced on Wednesday (March 26).
According to Nelson, Tesla, which builds its cars in the US, stands to benefit from a projected reduction in consumer choices coupled with an increase in the prices of foreign-made vehicles.
“There are very few winners,” Sam Fiorani, vice president of global vehicle forecasting for AutoForecast Solutions, said in an interview with Bloomberg. “Consumers will be losers because they will have reduced choice and higher prices.”
Analysts are projecting that Trump’s auto tariffs could severely impact the economy.
“I think yesterday’s [tariff announcement on automobiles] is a bigger deal than the market is making it out to be," Ajay Rajadhyaksha, global chairman of research at Barclays, told CNBC on Thursday (March 27). "I think it reduces the risk that April 2 is something that markets can dismiss," he added. "I think we will be negatively surprised."
2. Big Tech companies make AI advances
This week also saw significant advancements in artificial intelligence (AI) image generation and reasoning with the introduction of enhanced product offerings from some of Big Tech’s most prominent players.
OpenAI released 4o Image Generation to replace DALL-E 3 as the default image generation model for ChatGPT.
According to the company, the model can generate more realistic images than older image-generating models, as well as create lengthy, detailed, and precise text strings within images.
Meanwhile, Microsoft unveiled "deep reasoning agents" for 365 Copilot, powered by OpenAI's o1 and o3-mini models, featuring "agent flow" for enhanced reliability. Elsewhere, Google's (NASDAQ:GOOGL) DeepMind introduced Gemini 2.5 Pro, which it claims has superior reasoning capabilities over older iterations and competing models
3. CoreWeave downsizes IPO
CoreWeave's initial public offering (IPO) journey concluded on Friday, following significant market scrutiny.
The company initially filed for a New York IPO on March 3, targeting a US$4 billion raise and a valuation exceeding US$35 billion. Its filings revealed US$1.9 billion in 2024 revenue but also substantial debt and escalating net losses, reaching US$863 million. This expansion was fueled by US$14.5 billion in debt and equity financing.
On March 20, CoreWeave announced the launch of its IPO, registering 49 million Class A shares with a projected price range of US$47 to US$55. The company was aiming to raise up to US$2.7 billion in an offering led by Morgan Stanley (NYSE:MS), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS), with 11 other advisers participating. Analysts at CNBC projected the deal would value CoreWeave at US$26.5 billion, although that figure could go as high as US$32 billion.
However, the company opted to decrease the size and price of its IPO, setting levels at US$40 per share for 37,500,000 shares, resulting in a valuation of approximately US$23 billion.
CoreWeave's lower IPO was due to a confluence of factors that dampened investor enthusiasm, including market conditions and financial concerns. A confidential investor survey reported by the Information found that 90 percent of respondents do not consider CoreWeave a favorable long-term investment.
“One respondent summed up a broader perception about CoreWeave: ‘It’s radioactive, and I think every investor knows that,’” market analyst Cory Weinberg wrote.
4. OpenAI revenue and funding rumors circulate
It was a big week for OpenAI, marked by reports on its expansion and projected financial growth.
According to a Wednesday report from the Information, OpenAI is exploring the construction of its first data center, which would be located in Texas near the Stargate data center site.
Concurrently, Bloomberg cited an anonymous source projecting OpenAI's revenue to potentially triple to US$12.7 billion this year and reach $29.4 billion in 2026, driven by its paid software plans. Additionally, reports surfaced of a record-breaking funding round worth US$40 billion led by Stargate co-contributor SoftBank Group (TSE:9984). The deal is reportedly near completion and would double OpenAI’s valuation, bringing it near US$300 billion.
These developments emphasize OpenAI's position as a dominant force in the AI landscape
5. Microsoft reportedly cuts data center plans
Shares of Microsoft closed down on Wednesday after an analyst note from TD Cowen alleged that the tech conglomerate had abandoned plans for new data centers in the US and Europe, citing potential oversupply.
According to Bloomberg, Google and Meta have taken over some of the affected leases, although neither company has responded publicly to the note. In a statement from Microsoft obtained by the publication, the company said “significant investments” have left it “well positioned to meet our current and increasing customer demand.”
“While we may strategically pace or adjust our infrastructure in some areas, we will continue to grow strongly in all regions,” the spokesperson said. “This allows us to invest and allocate resources to growth areas for our future.”
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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26 March
Global AI Stocks: 9 Biggest Companies in 2025
As the artificial intelligence (AI) market continues to grow, there are many AI stocks for investors to choose from on top exchanges like the NASDAQ, TSX and ASX.
AI technology has made strong inroads into several key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity.
The technology has been around for a long time, but this current wave of buzz comes after the release of OpenAI’s ChatGPT, a generative AI platform. This intelligent chatbot shows how quickly generative AI is advancing, and it has led to many other major tech firms entering the space with their own generative AI offerings or including AI technology into their innovative products.
On a global scale, Fortune Business Insights predicts that the AI industry will experience a compound annual growth rate of 29.2 percent between 2025 and 2032 to reach a market value of more than US$1.77 trillion.
Here the Investing News Network profiles some of the biggest AI stocks by market cap on US, Canadian and Australian stock exchanges. Data for this AI stocks list was gathered on March 20, 2025, using TradingView’s stock screener.
American AI stocks
According to Tracxn Technologies, the number of US AI companies has more than doubled since 2017, with over 84,950 companies working in the sector today.
One of the major factors fueling growth in the American AI market, states Statista, is “the growing investments and partnerships among technology companies, research institutions, and governments."
Below are three of the top US AI stocks by market cap. For more US AI stocks, check out our list of 12 generative AI stocks and 5 AI ETFs.
1. NVIDIA (NASDAQ:NVDA)
Market cap: US$2.89 trillion
Share price: US$118.53
The global leader in graphics processing unit (GPU) technology, NVIDIA is designing specialized chips used to train AI and machine-learning models for laptops, workstations, mobile devices, notebooks and PCs.
The company is partnering with a number of big-name tech firms to bring various key AI products to market.
Through its partnership with Dell Technologies (NYSE:DELL), NVIDIA is developing AI applications for enterprises, such as language-based services, speech recognition and cybersecurity.
The chipmaker has also been instrumental in the buildout of Meta Platforms’ (NASDAQ:META) AI supercomputer. Called the Research SuperCluster, it reportedly uses a total of 16,000 NVIDIA GPUs.
In early 2024, Taiwan Semiconductor Manufacturing Company (NYSE:TSM) and NVIDIA released the world's first multi-die chip specifically designed for AI applications: the Blackwell GPU. Blackwell’s architecture allows for the increased processing power needed to train larger and more complex AI models.
At its March GTC 2025 conference, dubbed the AI Woodstock, NVIDIA CEO Jensen Huang made a series of important announcements including the Blackwell Ultra AI chip and its next-generation Vera Rubin platform.
2. Microsoft (NASDAQ:MSFT)
Market cap: US$2.88 trillion
Share price: US$386.84
Microsoft has committed billions to OpenAI, but the tech behemoth has also built its own AI solutions based on the chatbot creator’s technology: Bing AI and Copilot. OpenAI officially licensed its technologies to Microsoft in 2020.
In late May 2024, Microsoft unveiled its Copilot+ Windows PCs, its first range of AI-equipped PCs. According to the company, they are the “fastest, most intelligent Windows PCs ever built.”
After receiving criticism over security flaws, Microsoft announced in late September that it had made changes to the Copilot+ exclusive Recall software, which used AI to create screenshots of everything users do on their computers.
An update to Windows 11 in October 2024 included upgrades to the Copilot artificial intelligence platform capabilities, including the introduction of the ability to speak directly to the AI helper.
Microsoft’s moves into generative AI have translated into higher revenues for its Azure cloud computing business and a higher market capitalization — the tech giant pushed past the US$3 trillion mark in January 2024 and its managed to maintain that level up until the recent stock sell-off as a result of tariffs and trade wars by US President Donald Trump.
In January 2025, Microsoft announced an US$80 billion investment in US-based AI infrastructure, followed by the integration of AI tools into Microsoft 365.
3. Alphabet (NASDAQ:GOOGL)
Market cap: US$2.0 trillion
Share price: US$162.80
Alphabet holds court with both Microsoft and NVIDIA as part of the tech sector’s Magnificent 7, and its foray into AI has similarly brought the tech giant much success. The company has created the AI chatbot Gemini, formerly known as Bard, which is integrated into products such as its Google Suite, the Chromecast browser and the Google Pixel phone line.
Alphabet's market cap surpassed the US$2 trillion mark in April 2024. That same month, Google introduced a custom AI chip designed for its cloud services customers. The technology uses British semiconductor company Arm Holding's (NASDAQ:ARM) AI architecture. In the same week, Google revealed its new A3 Mega AI processor based on NVIDIA’s H100 Technology.
In September 2024, Google partnered with automaker Volkswagen (OTC Pink:VLKAF,ETR:VOW) to launch a smartphone-app-integrated AI assistant for Volkswagen drivers.
At the NVIDIA GTC 2025 conference, Alphabet and NVIDIA announced a series of AI-focused partnerships in the sectors of robotics, drug discovery and manufacturing.
Canadian AI stocks
Recognized as a world-leading AI research hub, Canada ranks eighth out of 83 countries in the Global AI Index. Since 2017, the Canadian government has invested hundreds of millions of dollars into accelerating the research and commercialization of AI technology in the country through the Pan-Canadian AI Strategy.
Research by IBM (NYSE:IBM) shows Canadian businesses are increasingly adopting AI, with 56 percent of IT professionals in large enterprises reporting that they plan to increase deployment the technology in their operations for 2025.
Below are three of the top Canadian AI stocks by market cap. For more Canadian AI stocks, take a look at our list of 5 small-cap Canadian AI stocks.
1. CGI (TSX:GIB.A)
Market cap: C$33.31 billion
Share price: C$141.32
Montreal-based CGI is among the world’s largest IT systems integration companies, and offers a wide range of services, from cloud migration and digital transformation to data analysis, fraud detection and even supply chain optimization. Its more than 700 clients span the retail, wholesale, consumer packaged goods and consumer services sectors worldwide.
Through a partnership with Google, CGI is leveraging the Google Cloud Platform to strengthen the capabilities of its CGI PulseAI solution, which can be integrated with existing applications and workflows.
CGI is aggressively working to expand its generative AI capabilities and client offerings. In early March 2024, the company launched Elements360 ARC-IBA, an AI powered platform for brokers and insurers to settle accounts in the UK broking industry. Later in September, CGI signed the EU's Artificial Intelligence Act pledge to work for trustworthy and safe AI development.
The company's AI-powered CGI DigiOps toolkit won the Association of Chartered Certified Accountants (ACCA) India Award 2024 for Excellence in Digital Transformation in February 2025. CGI DigiOps is used in several industries, including the energy and utilities, and retail sectors. “This award for digital transformation excellence is a testament to our commitment to delivering end-to-end AI-powered solutions to achieve meaningful outcomes for our clients," Rakesh Aerath, President, CGI Asia Pacific Global Delivery Centers of Excellence.
2. OpenText (TSX:OTEX)
Market cap: C$9.94 billion
Share price: C$37.79
Ontario-based OpenText is one of Canada’s largest software companies. The tech firm develops and sells enterprise information management software. Its portfolio includes hundreds of products in the areas of enterprise content management, digital process automation and security, plus AI and analytics tools.
OpenText serves small businesses, large enterprises and governments alike. Its AI & Analytics platform has an open architecture that enables integration with other AI services, including Google Cloud and Azure. It can leverage all types of data, including structured or unstructured data, big data and the internet of things to quickly create interactive visuals.
In January 2024, OpenText launched Cloud Editions 24.1, which includes enhancements to its OpenText Aviator portfolio.
OpenText has also been expanding its AI-powered cybersecurity offerings in recent years. In early 2025, the company launched OpenText Core Threat Detection and Response, which leverages AI-driven behavioral analytics to detect insider threats and cyberattacks.
3. Coveo Solutions (TSX:CVO)
Market cap: C$553.97 million
Share price: C$5.57
Headquartered in Québec City, Québec, Coveo Solutions is a software-as-a- service company that provides AI-powered relevance e-commerce and enterprise search software in Canada, the United States and internationally. Relevance in AI involves learning models that determine the relevance between search input data and the expected output.
The company’s Coveo AI-Relevance Platform is used in a broad range of industries, including high tech, healthcare, manufacturing, financial services, retail, and telecommunication. Coveo’s many strategic partners include Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE) and Shopify (TSX:SHOP,NYSE:SHOP).
In its fifth annual Commerce Relevance Report, Coveo found that 62 percent of 4,000 US and UK consumers surveyed responded that they are more likely to make purchases based on generative-AI-driven guidance. Drilling down on millennials, that figure rises to 68 percent.
In February, Coveo reported its financials for its fiscal Q3 2025 ended December 31, 2024, including total revenues of US$34 million compared to US$31.8 million in its fiscal Q3 2024.
In March, Coveo announced the launch of three new offerings for its customers: Coveo for Agentforce, an expanded suite of Coveo APIs and the Coveo Agentic AI Design Partner Program.
Australian AI stocks
AI investment by Australian companies is projected to increase, according to BSI's International AI Maturity Model, making the country the second best market in the world in terms of boosting AI capabilities. BSI reports that three-quarters of Australian business leaders responding to the firm's survey expressed the belief that failing to invest in AI would place their organizations at a competitive disadvantage.
The biggest spenders when it comes to AI in Australia are the banking industry, the federal government, professional services and retail.
Below are three of the top Australian AI stocks by market cap. For more ASX AI shares, check out our list of the 5 biggest ASX AI stocks.
1. NextDC (ASX:NXT)
Market cap: AU$8.23 billion
Share price: AU$22.93
NEXTDC is Australia’s leading data center operator, with facilities currently operational or under development throughout Australia. The company also has data centers under development in New Zealand, Malaysia and Japan. The company is the 2024 recipient of the Australian Data Centre Service Company of the Year award.
NEXTDC’s clients include some of the world's largest cloud providers, such as Amazon (NASDAQ:AMZN) Web Services, Microsoft Azure, and Alphabet's Google Cloud. The company has also obtained NVIDIA's DGX-Ready Data Centre Program certification, enabling it to optimize NVIDIA's AI platforms and power advanced AI data centers in Australia.
In its financial report for its fiscal H1 2025 ended December 31, 2024, the company reported total revenue of AU$205.5 million, a slight decrease of 2 percent from the same period in the year prior. However, its net revenue was up 13 percent to AU$167.8 million.
2. Nuix (ASX:NXL)
Market cap: AU$1.06 billion
Share price: AU$3.39
Sydney-based Nuix is a leading provider of data processing, investigative analytics and intelligence software. Its client base includes legal, compliance, forensic investigations, cybersecurity and data governance sectors.
The company’s patented Nuix Neo technology uses advanced deep learning techniques to better train AI models for more efficient, scalable and cost-effective document classification. Launched in July 2023, Nuix Neo is accessed through a browser-based, collaborative interface, and includes end-to-end automation, investigative analytics and AI-enabled workflows.
In its H1 fiscal year 2025 financials, Nuix reported that annualized contract value for Nuix Neo grew to AU$18.9 million, an increase of 361 percent compared to the prior corresponding period, as its customers grew from 8 to 46 over the same period.
3. BrainChip (ASX:BRN)
Market cap: AU$450.91 million
Share price: AU$0.22
BrainChip is an advanced Edge AI on-chip processing and machine learning hardware company. Its main product is the Akida digital neuromorphic chip, which is built with a spiking neural network that mimics the way messages are passed between neurons in the human brain.
A significant feature of Akida’s technology is that it doesn’t need to be connected to the cloud or other networks to learn, enhancing security.
In December 2024, Brainchip announced it had licensed the Akida IP to Frontgrade Gaisler, a leading provider of radiation-hardened microprocessors for space applications. The following month, the company introduced an ecosystem of partnerships developing around its Akida Edge AI Box, which the company describes as “a compact, cost-effective appliance with AI/ML processing power for a wide variety of markets such as manufacturing, warehouse, retail, hospitals, energy, automotive, and aviation.”
At the end of February 2025, Brainchip shared it was formally investigating redomiciling in the US following a strategic review by its Board. If it decides to go forward with the move, the company would pursue listing on a US stock exchange, and de-list from the ASX and OTCQX.
FAQs for AI stocks
Which company is leading the AI race?
Google and Microsoft are battling it out for king of the AI hill. While Goldman Sachs sees Alphabet’s Google as leading the AI race, other analysts are pointing to Microsoft as the clear frontrunner. Microsoft stands to benefit in a big way from its billions of dollars investment in OpenAI's ChatGPT as advancements in generative AI may have the potential to increase the company's revenues for its Azure cloud computing business.
Which country is doing best in AI?
North America is the global hotspot for advancements in AI technology and is home to the majority of the world’s largest AI providers. Techopedia positions the US as the primary hub for AI development, and many of the world’s leading tech giants are headquartered there. According to the report, China comes in a close second.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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26 March
RocketBoots Partners with Global POS Software Vendor to Drive Customer Markets Penetration
Artificial Intelligence software company, RocketBoots Limited (ASX:ROC) (RocketBoots or the Company), is pleased to announce the signing of a partnership agreement with global point-of-sale (POS) vendor, GEBIT Solutions GmbH (Gebit).
Highlights
- RocketBoots signs a partnership deal with Gebit Solutions, a global point-of-sale software vendor, as a preferred supplier of loss prevention solutions
- Gebit operates in over 32 countries and have the same retail customer target market as RocketBoots
- The partnership aims to drive international market penetration by leveraging RocketBoots’ unique AI-powered retail computer vision software into mutual customer markets.
Partnership with Gebit Solutions
RocketBoots has partnered with German-based Gebit Solutions as a preferred supplier of loss prevention solutions for its global retail customers. Gebit provides best-in-class retail POS software to customers across more than 32 countries, including some of the largest retail providers globally (https://www.gebit.de/en/homepage). Under the partnership, Gebit will support an out of the box integration with RocketBoots' loss prevention software which will allow all existing and new Gebit customers to easily test and adopt the loss prevention software.
The partnership aims to deliver a number of strategic outcomes for RocketBoots:
- Accelerating the timelines from first contact to customers achieving value from RocketBoots software
- Providing enhanced visibility of RocketBoots’ value propositions across target customer markets; and
- Collaborative lead generation.
RocketBoots has commenced discussions with Gebit across a number of customer groups, some of which are new prospects, while others where advanced discussions are in train. The Company believes the partnership collaboration can assist with progression to contract.
Click here for the full ASX Release
This article includes content from Rocketboots Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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