1. NextDC (ASX:NXT)
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Company Profile
Market cap: AU$9.25 billion; current share price: AU$17.81NextDC is Australia’s leading data centre operator, with 13 functioning centres throughout Australia, New Zealand, Malaysia and Japan, and nine more in the works. NextDC has expressed its commitment to improving Australia’s digital infrastructure with multiple business and academic partnerships.This past August, NextDC announced it would be partnering with Microsoft (NASDAQ:MSFT), as well as well-known Australian mining and telecommunications groups, to bring a state-of-the-art data centre to Pilbara, Western Australia. Then, in November 2023, the company officially broke ground on an AU$80 million data centre in Darwin as part of an action plan to improve the digital infrastructure in the Northern Territory.NextDC also revealed in September that it would be partnering with La Trobe Business School’s Research Centre for Data Analytics and Cognition on research into future theoretical and practical applications of AI across a range of industries.
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2. BrainChip (ASX:BRN)
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Company Profile
Market cap: AU$588.8 million; current share price: AU$0.33BrainChip 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 is able to learn on its own and is not reliant on the cloud or other networks. This makes it much more secure and reduces latency as well.
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3. Appen (ASX:APX)
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Company Profile
Market cap: AU$138.57 million; current share price: AU$0.60Appen began in 1996 as an automated speech recognition startup by a couple based in Sydney, New South Wales. Today, it operates as a trusted partner to companies transitioning to AI usage, with a suite of industry-specific large language models and AI-training products.
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4. Bigtincan Holdings (ASX:BTH)
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Company Profile
Market cap: AU$92.44 million; current share price: AU$0.15Bigtincan Holdings is a sales platform that uses AI to help companies improve their customers’ buying experience by making the process more efficient and personalised. Bigtincan’s list of partners includes Apple (NASDAQ:AAPL), Adobe (NASDAQ:ADBE), SalesForce (NYSE:CRM) and Microsoft (NASDAQ:MSFT).
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5. Ai-Media Technologies (ASX:AIM)
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Company Profile
Market cap: AU$77.26 million; current share price: AU$0.37Ai-Media Technologies is one of the world’s leading caption and translation providers. It was founded in 2003 by Tony Abrahams and Alex Jones, who was born deaf. Ai-Media uses AI to transcribe speech, making media accessible to all.
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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 the growth potential of the AI market have a number of entry points, including AI stocks. It’s key for each person to practise due diligence and speak to their broker to determine the most suitable tech investments. Another option is investing in established, large-cap companies that are taking advantage of the benefits of AI to improve their businesses. Investing in a company that is profiting from implementing AI is one way to gain indirect exposure. Some of these companies on the ASX include Block (ASX:SQ2), WiseTech Global (ASX:WTC), Seek (ASX:SEK), and Xero (ASX:XRO). Finally, the Betashare Global Robotics and Artificial Intelligence exchange-traded fund (ETF) (ASX:RBTZ) invests in companies involved in the development of AI applications all across the globe. Investing in an ETF is a low-cost way to benefit from a sector, such as AI, without buying stocks directly.
This is an updated version of an article first published by the Investing News Network in 2020.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
