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 a wide variety of key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity.
While AI has been around for a long time, this explosion in popularity is due to advancements in generative AI, starting with the release of OpenAI’s ChatGPT. Since then, many major tech firms entered the space with their own generative AI offerings, or now include AI technology in their own innovative products.
A McKinsey report states: "AI is a widely applicable, general-purpose technology with use cases in every industry and business function — and thus lots of innovation and interest — and it is scaling rapidly across the business landscape."
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 August 19, 2026, using TradingView’s stock screener.
American AI stocks
There are around 90,000 AI companies worldwide, of which 32 percent are headquartered in the US, according to Ascendix. 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$5.31 trillion
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 firms to help roll out AI products and AI infrastructure around the world.
In early 2024, Taiwan Semiconductor Manufacturing Company (NYSE:TSM) and NVIDIA unveiled 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.
In September 2025, NVIDIA announced a US$100 billion partnership with OpenAI that will see NVIDIA fund a massive data center buildout that will become the backbone of OpenAI's superintelligence ambitions.
In August 2026, the company partnered with several major investment firms, including BlackRock (NYSE:BLK), Brookfield Asset Management (TSX:BAM,NYSE:BAM) and Goldman Sachs (NYSE:GS), to create capital pools worth more than US$500 billion to fund the buildout of AI infrastructure powered by NVIDIA technology.
2. Alphabet (NASDAQ:GOOGL)
Market cap: US$4.2 trillion
Alphabet holds court with both Microsoft (NASDAQ:MSFT) 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 firm created the AI chatbot Gemini, formerly known as Bard, which is integrated into products such as its Google Workspace, the Chrome browser and the Google Pixel phone line.
In April 2024, Google introduced a custom AI chip designed for its cloud services customers. The technology uses British semiconductor company Arm Holdings' (NASDAQ:ARM) AI architecture. At the same time, Google revealed its new A3 Mega AI processor based on NVIDIA’s H100 Technology.
At the NVIDIA GPU Technology Conference in 2025, Alphabet and NVIDIA announced a series of AI-focused partnerships in the sectors of robotics, drug discovery and manufacturing.
In March 2026, Alphabet completed its acquisition of Wiz, a cloud and AI security platform. Wiz services will be used to improve security and enable rapid buildout across any cloud or AI platform.
3. Microsoft (NASDAQ:MSFT)
Market cap: US$3.59 trillion
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 licensed its technologies to Microsoft in 2020.
In 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.”
An update to Windows 11 in October 2024 included upgrades to the Copilot AI platform capabilities, such as the introduction of the ability to speak directly to the AI helper.
In early 2025, Microsoft announced the integration of its Copilot AI tools into Microsoft 365, and later that year it launched an open-source framework that will allow developers to build out agentic AI applications.
Early last year, Microsoft shared plans to invest US$80 billion in AI infrastructure in 2025
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.
According to a July report from Statistics Canada, 41.6 percent of workers polled said that AI or automation technology was used as part of their main job, with 35.9 percent using generative AI.
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. Celestica (TSX:CLS)
Market cap: C$49.67 billion
Celestica has recently shifted from providing traditional enterprise-level storage and network solutions to a greater focus on designing, building out and manufacturing data center infrastructure for large-scale AI applications.
In July 2025, the company released its SC6110 dual-node controller, intended for enterprise AI applications and based on Advanced Micro Devices' (NASDAQ:AMD) EPYC CPU, its leading data center and AI processor.
In March 2026, Celestica announced that it was collaborating with AMD to develop Helios, a rack-scale AI platform. Celestica said it would carry out research, development, design and manufacturing of scale-up networking switches that will be used by AMD in the Helios architecture. The following month, Celestica announced that its DS6000 1.6 terabit Ethernet switches were available to order. The switches are capable of providing up to 102.4 terabits per second of data throughput, and were engineered for AI back-end networks.
2. CGI (TSX:GIB.A)
Market cap: C$20.79 billion
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 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 working to expand its generative AI capabilities and client offerings. In March 2024, the company launched Elements360 ARC-IBA, an AI-powered platform for brokers and insurers to settle accounts in the UK broking industry. In September 2024, it signed the EU's AI Act Pledge to work for trustworthy and safe AI development.
In July 2026, the company announced it had been selected by the City of Munich, Germany, to help streamline administrative processes and expand digital services for city residents.
The company noted that it has worked with Munich for 20 years on data services, including e-file systems, license management and smart city applications for the city’s 40,000 employees.
3. OpenText (TSX:OTEX)
Market cap: C$8.13 billion
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 and large enterprises, as well as governments. Its AI & Analytics platform has an open architecture that enables integration with other AI services, including Google Cloud and Azure. It can leverage all data types, including structured or unstructured data, big data and the internet of things to create interactive visuals.
OpenText has also been expanding its AI-powered cybersecurity offerings.
Last year, the company launched OpenText Core Threat Detection and Response, which leverages AI-driven behavioral analytics to detect insider threats and cyberattacks.
In June 2026, it announced plans to invest 105 million euros across its Irish assets over the next three years to expand its agentic AI, cybersecurity, sovereign cloud and digital operations across Europe, Africa and the Middle East.
Australian AI stocks
Australia's AI innovation and the number of AI companies in the country are growing consistently, according to a June 2025 government report on the country's AI ecosystem.
According to the report, of the 412 public AI firms it identified, "Most public AI companies are well-established organisations that have operated in Australia for years or decades. Their expanding AI capabilities primarily stem from strategic shifts, increased investment in internal AI capabilities and acquisitions of AI-developing firms."
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$11.19 billion
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.
NEXTDC’s clients include some of the world's largest cloud providers, such as Amazon Web Services, Microsoft Azure and Alphabet's Google Cloud. The company also obtained NVIDIA's DGX-Ready Data Center Program certification, enabling it to optimize NVIDIA's AI platforms and power advanced AI data centers in Australia.
In its H1 2026 fiscal year report, released on February 25, the company reported total revenue of AU$231.8 million, up 13 percent from the same period in the year prior. Net revenue was also up 13 percent to AU$189.2 million.
On July 21, NEXTDC said contracted utilization had risen to 740 megawatts, an 11 percent increase since April 20. It also said its pro-forma order book for fiscal years 2026 to 2030 has increased to 565 megawatts.
2. Megaport (ASX:MP1)
Market cap: AU$4.9 billion
Megaport is a network-as-a-service provider that offers a software-defined network platform to businesses, data centers and cloud providers. Although it calls Australia home, the company has operations in over 30 countries.
Megaport has strategic partnerships with cloud service providers like Amazon Web Services and Microsoft Azure. Users of its Megaport Virtual Edge can use devices such as routers and firewalls without the need for physical hardware in a data center. The scalability and on-demand nature of Megaport’s technology supports businesses employing AI tools. The company’s AI Exchange platform connects customers with an ecosystem of AI service providers.
On August 20, the company announced it had expanded its global AI infrastructure portfolio by adding three new contracts covering GPU and CPU compute, network and storage capacity. In total, the contracts represent a value of AU$506.2 million, with annual recurring revenue of AU$129.2 million.
3. Nuix (ASX:NXL)
Market cap: AU$482.72 million
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 April 2026, Nuix completed the acquisition of Linkurious, a company specializing in data visualization to detect patterns and investigate alerts. The company had previously been a technology partner of Nuix.
On August 24, Nuix released its financial results for the year ended on June 30, 2026. The company recorded an 18.8 percent year-on-year revenue increase to AU$263.2 million, along with a 13.9 percent increase to annualized contract value of AU$260 million. The company noted that its financial data includes the Linkurious acquisition.
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.
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Securities Disclosure: I, Dean Belder, own shares of Alphabet.
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