In this article, we will take a look at the 16 biggest publicly traded AI companies in the world. If you want to skip our detailed analysis, you can go directly to 5 Biggest Publicly Traded AI Companies in the World.
"NVIDIA Has to Keep Working"
On May 8, Stuart Kaiser, Citi's Head of Equity Trading Strategy, appeared in an interview on Yahoo Finance where he discussed the role of NVIDIA Corporation (NASDAQ:NVDA) in shaping the market for artificial intelligence. Kaiser suggests that the company's earnings report may be the biggest event to look forward to right now, especially for equity holders, according to the S&P 500 index. He also highlighted that if the 10-year rate was pinned at 4.75%, equities would not be largely impacted if NVIDIA Corporation (NASDAQ:NVDA) misses earnings on May 22nd. The interviewer then directs the conversation to discuss the volatility of the stock. The stock went down to $735 and $740 a couple of weeks ago, to which Kaiser emphasized how NVIDIA Corporation (NASDAQ:NVDA) poses a macro risk to the market, keeping in mind that it is priced for a significant swing of 10%. Companies like Netflix, Inc. (NASDAQ:NFLX) and ASML Holding N.V. (NASDAQ:ASML) went down double digitals, and big tech stocks, now stabilized, also have been down in correlation. To put NVIDIA Corporation's (NASDAQ:NVDA) position into perspective, the company's earnings report and the way big and small tech companies react to it are extremely crucial to the AI space at the moment.
The interviewer then questions how megacap tech stocks upheld their leadership position in the market. The interviewer highlights that the NASDAQ 100 hit a high in July last year and mid-January this year, and has been sideways since, relative to the S&P 500 index. Kaiser highlights the magnificent seven including, Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), NVIDIA Corporation (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOG), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), and Tesla, Inc. (NASDAQ:TSLA), held 70% of the market cap last year, however, now they position in the 40% to 50% range, with names like Meta and Tesla not performing as well. He also suggested that the best-case scenario would be NVIDIA missing due to high demand and low supply, indicating that the market is still in high demand. He closed the interview by highlighting that if the industry is to keep progressing, NVIDIA is to keep working harder. You can also take a look at the best AI stocks that will skyrocket.
Big Tech Companies Making Strides in AI
NVIDIA Corporation (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOG), and
NVIDIA Corporation (NASDAQ:NVDA) is one of the largest software companies based in California, United States. The company's advanced AI platform for enterprises includes generative AI solutions, data analytics solutions, Inference solutions, Speech AI, Vision AI, and Cybersecurity solutions. On May 7, NVIDIA Corporation (NASDAQ:NVDA) announced that its NVIDIA DGX SuperPOD system will enable the government to advance research on climate science, healthcare, and cybersecurity using generative AI. The system will support MITRE's Federal AI Sandbox to improve experimentation with next-gen AI applications across all government agencies. The system holds the ability of an exaflop of 8-bit AI compute, allowing it to perform quintillion math operations every second, facilitating the training and deployment of LLMs and AI tools on a large scale.
Microsoft Corporation (NASDAQ:MSFT), one of the magnificent 7 stocks, is leading the AI revolution. On November 15, 2023, Microsoft Corporation (NASDAQ:MSFT) announced that the company will begin to provide solutions from silicon to service to meet the rising AI demand. The company's Redmond Campus is a research lab focused on processing and testing silicon. The company launched two custom chips, Microsoft Azure Maia AI Accelerator and Microsoft Azure Cobalt CPU. The former is optimized for AI tasks and generative AI and the latter is an Arm-based processor that is able to run general purpose compute on Microsoft Cloud.
Alphabet Inc.'s (NASDAQ:GOOG) Google DeepMind is the company's research lab aimed at building next-gen AI systems. The lab brings together Google Brain and DeepMind and is responsible for some of the most prominent AI breakthroughs in the world. On May 8, Alphabet Inc. (NASDAQ:GOOG) announced the launch of AlphaFold 3, a new AI model developed by the company's research lab, Google DeepMind, and Isomorphic Labs. The new model is capable of predicting the structure of proteins, DNA, RNA, and Ligands and their relationships with each other. As per the company's test results, the model saw a 50% improvement in test results compared to existing prediction tools and methods.
Now that we have studied the happenings and major players in the AI industry, let's discuss the 16 biggest publicly traded AI companies in the world. You can also take a look at the best US states for AI jobs.
16 Biggest Publicly Traded AI Companies in the World
A computer screen showcasing Artificial Intelligence and Machine Learning algorithms at work.
Our Methodology
To make our list of the 16 biggest publicly traded AI companies in the world, we went over several sources, including industry reports, our own rankings, and multiple similar rankings. We also went through four ETFs including iShares U.S. Technology ETF, Fidelity MSCI Information Technology Index ETF, iShares Global Tech ETF, and iShares Expanded Tech Sector ETF. For public companies, we checked each company's market capitalization, as of May 8, 2024, on Yahoo Finance. Our list is in ascending order of market caps as of May 8, 2024.
Note: We have only included companies that are directly involved in the development of AI software, hardware, services, and products, and are hence pure-play AI companies.
16 Biggest Publicly Traded AI Companies in the World
Market Capitalization as of May 8, 2024: $191.45 Billion
Cisco Systems, Inc. (NASDAQ:CSCO) ranks 16th on our list of the biggest AI companies in the world. The company is a leader in software, network and cybersecurity solutions. The Cisco AI assistant is a leading generative AI tool that helps individuals make responsible and informed decisions. It also uses artificial intelligence to assist, augment, and automate cybersecurity solutions. On February 6, Cisco Systems, Inc. (NASDAQ:CSCO) announced a collaboration with NVIDIA Corporation (NASDAQ:NVDA). The collaboration is focused on providing enterprises with AI infrastructure solutions in data centers.
Market Capitalization as of May 8, 2024: $195.32 Billion
Accenture Plc (NYSE:ACN) is a leading IT company and professional services provider based in Ireland, United States. Last year in June, the company invested $3 billion in AI and has more than 1,450 AI patents. It also plans to expand its AI workforce to 80,000 personnel via acquisitions, hiring, and training. Here are some comments from Accenture Plc's (NYSE:ACN) Q2 2024 earnings call:
"We also had over $600 million in new GenAI bookings taking us to $1.1 billion in GenAI sales in the first-half of the fiscal year, expanding our early lead in GenAI, which is core to our clients reinvention. We now have over 53,000 skilled data and AI practitioners against our goal of doubling our data and AI workforce from 40,000 to 80,000 by the end of fiscal year 2026. We are laser-focused on the needs of our clients and this focus is reflected in our bookings of $21.6 billion, representing our second highest quarter on record. This included $10 billion of bookings in North America, our highest ever. We continue to take market-share with revenues of $15.8 billion for the quarter, flat compared to last year and slightly above the midpoint of our range."
Market Capitalization as of May 8, 2024: $201.05 Billion
QUALCOMM Incorporated (NASDAQ:QCOM) ranks 14th on our list of the biggest publicly traded AI companies in the world. The semiconductor company is at the forefront of producing on-device AI products. The company is focused on making hybrid artificial intelligence a reality in industry-focused hardware and software solutions across millions of devices including mobile phones, personal computers, automotive, Internet of Things (IoT), and Extended Reality (XR). QUALCOMM Incorporated (NASDAQ:QCOM) has a market capitalization of $201.05 billion.
Market Capitalization as of May 8, 2024: $219.13 Billion
SAP SE (NYSE:SAP) is a leading software company based in Germany. The company has AI capabilities to support the supply chain, ERP and finance, procurement, human resources, and sales and marketing functions of a business. Individuals can enhance error resolution, improve performance, and automate communication using the company's AI tools. On May 8, SAP SE (NYSE:SAP) announced a new collaboration with International Business Machines Corporation (NYSE:IBM) to penetrate the new era of generative AI capabilities and industry-specific cloud solutions. The companies will come together to develop new generative AI capabilities for RISE with SAP and will integrate AI into SAP's business solutions. They will also develop industry use cases backed by data. International Business Machines Corporation (NYSE:IBM) has already begun the development of more than 100 AI solutions.
Market Capitalization as of May 8, 2024: $220.54 Billion
Adobe Inc (NASDAQ:ADBE) ranks 12th on our list of the biggest publicly traded AI companies in the world. The computer software company leverages AI to enhance creativity and work. Individuals can use the company's AI tools to generate high-quality images, use Adobe Firefly to add or remove objects, use AI tools in the Adobe Experience Cloud to create personalized content, automate workflows, and use AI Assistant in Adobe Acrobat to ask questions about your PDF. Here are some comments from the Adobe Inc's (NASDAQ:ADBE) Q1 2024 earnings call:
"We are a leader in delivering generative AI across all our clouds. We’re taking a highly differentiated approach across data, models and interfaces. Our proprietary data is built on decades of deep domain expertise across creative, documents and customer experience management. We leverage large language models, as well as have invested in building and delivering our proprietary models in the creative document and marketing domains. Our IP-friendly approach is a differentiator for creators and enterprises. In addition, we’ve innovated by delivering generative AI directly in products with releases in Adobe Photoshop, Illustrator and Express across both desktop and mobile. AI Assistant in Acrobat and Reader unlocks the tremendous value of the trillions of PDFs around the world."
Market Capitalization as of May 8, 2024: $249.61 Billion
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading IT and semiconductor company based in California, United States. The company's AMD Instinct MI300 Series accelerators are capable of handling complex AI and HPC workloads with high-bandwidth memory and large memory density. On April 16, Advanced Micro Devices, Inc. (NASDAQ:AMD) launched new products for its commercial mobile and desktop AI PC portfolio. The new processors in the AMD Ryzen PRO 8040 Series are made for business laptops and mobile workstations. The models are built-in with AMD Ryzen AI and have greater AI power than older generations. These processors support AI-enabled collaboration, content creation, and data and analytics management.
Market Capitalization as of May 8, 2024: $268.87 Billion
Salesforce Inc (NYSE:CRM) ranks 10th on our list of the biggest publicly traded AI companies, with a market capitalization of $268.87 billion. The leading cloud provider is making strides in artificial intelligence. Its AI cloud platform is built on Einstein GPT Trust Layer that protects customer and company data. The open platform is also capable of supporting any large language model and is focused on improving company performance and efficacy. Key tools by Salesforce Inc (NYSE:CRM) include Sales GPT, Service GPT, Marketing GPT, Commerce GPT, Slack GPT, and Tableau GPT.
Market Capitalization as of May 8, 2024: $324.13 Billion
With a market capitalization of $324.13 billion, Oracle Corporation (NYSE:ORCL) is one of the biggest AI companies. The company owns a range of comprehensive AI solutions. The Oracle Cloud Infrastructure (OCI) Generative AI for enterprise is a managed service facilitating writing assistance, summarization, and chat. The OCI Generative AI Agents service brings together the power of large language models and retrieval augmented generation (RAG) to enable easy access to enterprise data. Oracle Corporation (NYSE:ORCL) has a market capitalization of $324.13 billion.
Market Capitalization as of May 8, 2024: $603.89 Billion
Broadcom Inc. (NASDAQ:AVGO) ranks eighth on our list of the biggest publicly traded AI companies in the world. The company's optics technologies enable high-speed interconnects for front-end and back-end systems of generative AI clusters. Broadcom 200G VCSEL and EML solutions, on the other hand, enable the deployment of generative AI networks. On November 30, 2023, Broadcom Inc. (NASDAQ:AVGO) launched a new NetGNT engine, in its Trident 5-X12 vhip. The new engine is able to identify patterns in AI and/or ML workloads.
7. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Market Capitalization as of May 8, 2024: $731.94 Billion
With a market capitalization of $731.94 billion, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) ranks as one of the biggest AI companies in the world. The company is a semiconductor manufacturing company in Taiwan. On March 18, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) announced a collaboration with NVIDIA Corporation (NASDAQ:NVDA) and Synopsys. The collaboration will allow TSMC and Synopsys to use NVIDIA's computational lithography platform to fuel generative AI algorithms. Here are some comments from the company's q1 2024 earnings call:
"We forecast the revenue contribution from several AI processors to more than double this year and account for low-teens percent of our total revenue in 2024. For the next 5 years, we forecast it to grow at 50% CAGR and increase to higher than 20% of our revenue by 2028. Several AI processors are narrowly defined as GPUs, AI accelerators and CPU’s performing, training and inference functions and do not include the networking edge or on-device AI. We expect several AI processors to be the strongest driver of our HPC platform growth and the largest contributor in terms of our overall incremental revenue growth in the next several years. Now let me talk about our global manufacturing footprint update. TSMC’s mission is to be the trusted technology and capacity provider of the global IC — logic IC industry for years to come."
Market Capitalization as of May 8, 2024: $1.88 Trillion
Meta Platforms Inc (NASDAQ:META) ranks sixth on our list of the biggest publicly traded AI companies in the world. Meta AI is built on Meta Llama 3, the company's most advanced model. It is capable of reasoning, following instructions, visualizing ideas, and solving problems. On April 10, Meta Platforms Inc (NASDAQ:META) introduced the next generation of Meta's custom-made chips capable of managing AI workloads. The move is an extension to the company's Meta Training and Inference Accelerator (MTIA) v1, launched last year. As of now, the MTIA chip is capable of managing both low-complexity and high-complexity ranking and recommendation models.