ASX AI Stocks: 5 Biggest Companies in 2026
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.
Although the AI market is relatively small in Australia, it’s growing.
According to a September 2023 report from IDC on worldwide AI spending, Australia is leading the Asia-Pacific region in spending on AI solutions along with Korea and India. 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.
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 retrieved on February 25, 2026. Companies whose businesses are focused mainly on AI were considered.
1. NEXTDC (ASX:NXT)
Market cap: AU$8.51 billion
Share price: AU$14.00
NEXTDC is Australia’s leading data centre operator, with 16 functioning centres and 10 more in various stages of development throughout Oceania. New centers in Adelaide and Darwin came online in early 2025.
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 December 2025, NEXTDC signed an memorandum of understanding MOU with OpenAI to develop a sovereign AI hyperscale campus and GPU supercluster at its S7 site in Sydney, valued at around AU$7 billion. The company has also secured approval from the Victorian government to build an AU$2 billion M4 tech campus in Port Melbourne.
NEXTDC’s international expansion efforts include planned data centres in Kuala Lumpur, Malaysia; and Auckland, New Zealand. The Malaysian data centre is expected to launch in H1 2026.
2. Dicker Data (ASX:DDR)
Market cap: AU$1.83 billion
Share price: AU$10.28
Dicker Data is an Australian IT distributor, specialising in hardware, software, cloud and related products. It has rapidly expanded its AI business through partnerships with a range of companies, including Cisco Systems (NASDAQ:CSCO) and Dell Technologies (NYSE:DELL), to deliver AI-ready infrastructure, GPU-as-a-service offerings and channel-focused practices like AI Accelerate for resellers to deploy enterprise-grade AI solutions.
Dicker Data’s recent visibility spike stems from its role as the lead technology supplier for Australia’s first sovereign AI factory, ResetData’s AI-F1, and the launch of AI Accelerate in September 2025.
3. Megaport (ASX:MP1)
Market cap: AU$1.31 billion
Share price: AU$8.10
Megaport is a software-defined network service provider that allows enterprise customers to connect between data centres. The…
