Are these the top ASX AI stocks to watch?
Read on for a description of AI stocks alongside five of the best artificial intelligence companies to watch in 2025. These are some of the most well-known AI-dedicated shares on the index.
AI boom explained
With AI stocks going mainstream, it’s worth considering just how fast progress is being made. ChatGPT was only launched in late 2022, with GPT-4 following in March 2023.
Now, AI is becoming embedded in entertainment, social media, art, retail, security, sports analytics, manufacturing, self-driving cars, healthcare, and warehousing, alongside dozens of other sectors.
The financial possibilities are arguably essentially endless, as shown by Nvidia’s recent quarterly results: record quarterly revenue of $30.0 billion, up 15% from Q1 and up 122% from a year ago, with CEO Jensen Huang stating that ‘the next industrial revolution has begun – companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centres to accelerated computing and build a new type of data centre – AI factories – to produce a new commodity: artificial intelligence.'
Of course, older investors who lived through the dotcom bust may be feeling a distinct sense of déjà vu. While AI is undoubtedly filtering into ever more aspects of daily life and work environments, new tech has a history of inspiring market bubbles that pop before the winners go on to generate sustainable growth. This was arguably the case with the dot-com crash – and while no two scenarios are exactly the same, history does tend to rhyme.
On the other hand, the advances in AI over the last 18 months have been extraordinary – with artificially generated text, imagery, and video available to the masses on a scale never before seen.
There are even rumours that OpenAI has developed a model approximating Artificial General Intelligence (AGI) – capable of surpassing human-like intelligence with the ability to self-teach. And then there’s the employee question: many companies are already laying off staff in favour of AI-based replacements, and this trend could be set to continue.
Most recently, Apple announced a potentially groundbreaking partnership with OpenAI to bring artificial intelligence to the iPhone, which launched late last year.
But with some disquiet not just at Nvidia, but other popular shares including Super Micro Computer, Palantir, ARM and AMD, it remains to be seen whether this is the end of the bubble or simply some profit-taking before a sustained move higher.
As ever, while there may be significant growth opportunities, there are also risks.
As always, past performance is not an indicator of future returns.
Top ASX AI stocks to watch
The following are five well-known AI-dedicated shares on the ASX. While market titans like Block or WiseTech Global do make use of AI in their operations, they are not specifically AI-focused and therefore are not included in this list – indeed, most larger companies are starting to incorporate artificial intelligence to some degree, and a cut-off between what is and what it not an AI company will always be subjective.
Importantly, these ASX AI companies are much smaller and perhaps higher risk than the US operators – but this does mean they may have stronger growth potential. These stocks are ordered by market capitalisation, largest to smallest.
As always, past performance is not an indicator of future returns.
NEXTDC (ASX: NXT)
NextDC is a leading data centre operator that underpins Australia’s digital infrastructure, and its relevance to AI growth is hard to overstate.
As artificial intelligence applications demand ever-greater processing power and low-latency environments, demand for high-performance data centres has surged. NextDC is well-positioned to benefit, with a growing national footprint and strategic partnerships with major cloud and enterprise providers.
In early 2025, the company announced the expansion of its S4 Sydney and M3 Melbourne campuses, citing strong forward demand from hyperscale clients – including those developing AI tools and models.
As organisations scale up their AI workloads, NextDC’s role as a digital enabler offers both stability and long-term growth potential. With recurring revenue and exposure to one of the fastest-growing tech megatrends, the stock has attracted attention from investors seeking future-facing infrastructure plays.
NextDC has a market capitalisation of $7.06 billion.
Megaport Ltd (ASX: MP1)
Megaport is a global network-as-a-service provider that facilitates flexible, on-demand connectivity between data centres and cloud services.
Its elastic, software-defined network allows businesses to scale bandwidth dynamically – an essential feature as AI workloads spike and evolve in real time. The company operates across 25 countries and serves enterprise clients with mission-critical connectivity needs.
Megaport’s recent earnings update showed continued revenue growth, driven by demand for cloud interconnection and AI-adjacent services. The firm has been expanding its partnerships with major cloud providers like Microsoft Azure, Google Cloud, and AWS, reinforcing its centrality in the digital transformation ecosystem.
As more enterprises adopt AI tools and machine learning platforms, Megaport’s infrastructure offers the agility and scalability needed to support that shift, making it a compelling mid-cap tech stock to watch.
Megaport Ltd has a market capitalisation of $1.61 billion.
NUIX (ASX: NXL)
NUIX develops advanced data analytics and investigation software, used by governments, regulators, and enterprises to extract insights from massive volumes of unstructured data.
While it’s not a pure AI play, its use of machine learning to automate forensic and compliance tasks places it firmly in the AI-adjacent category. Its products are increasingly valuable in a world of rising data complexity and regulatory scrutiny.
The company has undergone a transformation over the past year, stabilising its leadership and improving revenue consistency after a turbulent post-IPO period. In 2025, NUIX launched an AI-enhanced version of its flagship platform, incorporating more sophisticated automation and natural language processing capabilities.
With growing demand for data governance and cybersecurity tools powered by AI, NUIX could see renewed interest from investors seeking a tech turnaround story with real-world utility.
NUIX has a market capitalisation of $803.68 million.
Brainchip Holdings (ASX: BRN)
Brainchip is one of the few ASX-listed companies directly focused on AI chip development.
Its Akida processor is designed to mimic the human brain’s neurosynaptic processing, enabling ultra-low power, event-based computing ideal for edge AI applications – think autonomous vehicles, industrial IoT, and smart sensors. Unlike traditional chips, Akida processes information locally, which can significantly reduce latency and power use.
Although Brainchip remains in the pre-revenue phase and has yet to secure large-scale commercialisation, it has made important strides with industry partnerships and technology demonstrations.
In early 2025, the company announced updates to its next-gen chip architecture and continued to attract interest from US and Asian hardware manufacturers. For high-risk, high-reward investors bullish on edge AI, Brainchip offers a speculative but potentially transformative opportunity.
Brainchip Holdings has a market capitalisation of $415.28 million.
Weebit Nano (ASX: WBT)
Weebit Nano is an emerging semiconductor player developing next-generation memory technology known as ReRAM (Resistive RAM).
ReRAM has potential advantages over traditional flash memory, offering faster speeds, lower power usage, and better endurance – all crucial for AI and edge computing devices. As AI models grow larger and more energy-hungry, efficient memory solutions are becoming increasingly important.
In 2025, Weebit achieved a major milestone by signing a commercial production agreement with a global foundry, marking a step forward from R&D to potential mass adoption. It also continued collaborative work with leading research institutions to integrate ReRAM into neuromorphic and AI-centric chips.
While still early in its commercial journey, Weebit’s unique technology positions it at the intersection of AI, hardware innovation, and energy efficiency.
Weebit Nano has a market capitalisation of $357.51 million.
How to invest or trade in ASX AI stocks with us
Take your position on over 13,000 local and international shares via CFDs or share trading – all at your fingertips on our award-winning platform.*
Learn more about share CFDs or share trading with us, or open an account to get started today.
* Winner of 'Best Multi-Platform Provider' at ADVFN International Finance Awards 2022
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get commission from just 0.08% on major global shares
- Trade CFDs straight into order books with direct market access
