Artificial intelligence (AI) may be an emerging technology, but there are plenty of billion-dollar companies in this space.
As the market has grown over the past few years, AI technology has made strong inroads into several key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity.
Below are three of the top US AI stocks.
Market cap: US$3.134 trillion; share price: US$421.74
Market cap: US$2.215 trillion; share price: US$866.11
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 a number of key AI products to market.
Market cap: US$1.967 trillion; share price: US$158.92
Below are three of the top Canadian AI stocks.
Market cap: US$33.238 billion; share price: US$143.45
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.
Market cap: C$13.366 billion; share price: C$48.58
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.
OpenText’s 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 (IoT) to quickly create interactive visuals.
Market cap: C$8.9 billion; share price: C$104
Descartes Systems Group provides on-demand software-as-a-service (SaaS) solutions. The multinational technology company specializes in logistics software, supply chain management software and cloud-based services for logistics businesses.
Below are three of the top Australian AI stocks.
Market cap: AU$18.451 billion; share price: AU$121.96
New Zealand-based technology company Xero provides cloud-based accounting software for small and medium-sized businesses. The company’s product portfolio also includes the Xero Accounting app, Xero HQ, Xero Ledger, Xero Workpapers and Xero tax tools.
Market cap: AU$5.213 billion; share price: AU$16.23
TechnologyOne is another large enterprise technology software firm in Australia. In fact, it is the country’s largest enterprise resource planning SaaS company. TechnologyOne has a client base of over 1,200, including customers in the government, education, health and financial services sectors across Australia, New Zealand and the UK. The company’s research and development center is targeting cloud-based technology, AI and ML.
Market cap: AU$647.603 million; share price: AU$0.345
Global technology company BrainChip Holdings has developed and commercialized a type of edge AI that simulates the functionality of the human neuron. The company’s neuromorphic processor, Akida, enables the deployment of edge computing across several applications, including connected cars, consumer electronics and industrial IoT.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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