ASX 200 Tech stocks to watch
These stocks are showing strong growth across AI driven software expansion customer base scaling revenue increase and large infrastructure capacity build supported by rising global demand and long term digital transformation trends.
ASX 200 Tech stocks to watch
WiseTech Global Limited (ASX: WTC)
Xero Ltd (ASX: XRO)
NEXTDC Limited (ASX: NXT)
WiseTech Global Limited (ASX: WTC)
WiseTech Global Limited (ASX: WTC) FY26 first half shows 76 percent revenue growth and 31 percent EBITDA rise driven by e2open acquisition forming TradeWise. It sets path for margin improvement after integration.
Serving 22000 logistics firms across 193 countries including 23 of top 25 global freight forwarders and over 500000 connected enterprises CargoWise NCM rolled out to 95% of customers Agentic AI tools already in production and more coming.
Over 1 billion dollars invested in innovation over five years More than 50 acquisitions expanded customs logistics and supply chain reach Thirty years of domain knowledge supports mission critical systems with trusted data across regulated industries globally ecosystem.
AI is used for internal work with about half of coding done by AI agents Network and marketplace connect participants in real time Focus remains on efficiency and operating leverage for long term value creation growth.
Xero Ltd (ASX: XRO)
Xero Ltd (ASX: XRO) announced on 03 February 2026 an investor briefing on AI and US payments. It covered JAX AI agents and Melio platform progress with focus on breakeven path and stronger US expansion through combined offering.
AI system uses data platform and system of record strengths. Over 2 million subscribers use AI features and more than 300,000 use GenAI tools. Aim is to shift from record keeping to action based decision support for small businesses.
FY26 outlook shows operating expense ratio around 70.5%. FY27 focuses on AI adoption and monetisation. US payments TAM is US$29b and accounts payable TAM is US$19b supporting long term growth and Rule of 40 above 40 percent target.
H1 FY26 results for period ended 30 September 2025 were announced May 2026. Revenue reached $1.194b up 20%. EBITDA was $350.9m with free cash flow $321.1m. Rule of 40 outcome was 44.5% supported by AI and Melio integration.
NEXTDC Limited (ASX: NXT)
NEXTDC Limited (ASX: NXT) announced on 5 May 2026 that it secured A$1.8b new senior debt commitments. Total senior debt facilities rise from A$6.4b to A$8.2b with liquidity around A$8.4b by the 30 June 2026. Funds will support data centre expansion customer contracts and general needs. Financial close expected July 2026.
Bank syndicate includes ANZ CBA ING Mizuho MUFG NAB HSBC and Westpac. The financing supports rising utilisation demand and ongoing infrastructure build across large scale AI driven workloads and capacity growth.
Contracted utilisation rose 60 percent to 667MW as at 31 March 2026. Forward order book increased 83 percent to 544MW. Demand is driven by AI compute needs higher density and faster delivery requirements in data infrastructure markets.
Company plans A$2.7b to A$3.0b capex in FY26 and about A$5.0b in FY27. Around A$1.5b will go to S4 expansion. FY26 revenue and EBITDA guidance remains unchanged while capacity build is accelerated for long term growth.
(Source: Company Report)
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