Best three AI stocks on ASX

The AI revolution has taken over the world by storm and the following three ASX AI stocks are well positioned to capture value and create wealth for shareholders.

Best three AI stocks on ASX

NEXTDC Limited (ASX: NXT) 

Megaport Limited (ASX: MP1) 

Nuix Limited (ASX: NXL) 

NEXTDC Limited (ASX: NXT) 

NEXTDC Limited  on 7 May 2026 announced the successful completion of its $1.7 billion Hybrid Securities offer which improved the company’s balance sheet and lifted its pro-forma liquidity position to about $8.4 billion for future data centre expansion and long-term growth initiatives.

Contracted utilisation surged 60% to 667MW which reflects strong customer demand from AI and hyperscale computing requirements while the forward order book rose 83% to 544MW.

High demand together with a record order book and disciplined capital allocation has placed NEXTDC as a high growth infrastructure business within the AI focused digital economy.

The company is one of the best AI ASX stocks and has reaffirmed its FY26 guidance with expected EBITDA between $230 million and $240 million which has given confidence to investors in its future.

NEXTDC also plans capital expenditure between $2.7 billion and $3 billion in FY26 because the company aims to capture future demand opportunities while these high capex requirements may also create barriers for future competitors that could be difficult to replicate.

Megaport Limited (ASX: MP1) 

Megaport Limited (ASX: MP1) is one of the Top ASX AI stocks and currently has a market capitalisation of about $1.74 billion while being a leading global Network-as-a-Service and cloud connectivity platform.

The company reaffirmed its FY26 guidance with expected revenue between $302 million and $317 million alongside EBITDA margins of 21% to 24% which reflects management confidence in the company’s operational momentum.

Megaport also reported strong growth metrics as Compute ARR rose 31% to US$58.7 million from US$45.0 million at 31 December 2025 while Network ARR including India increased 23% on a constant currency basis compared with the prior corresponding period.

A key recent development was a new three-year compute and storage contract worth US$25.1 million with a high-growth US technology company focused on agentic AI which further supports Megaport’s role in next-generation AI infrastructure and high-performance computing workloads.

The AI revolution could increase Megaport’s long-term growth potential because rising demand for AI training, inference workloads, GPU infrastructure, low-latency networking and cloud interconnection services will increase the need for scalable global connectivity platforms.

Nuix Limited (ASX: NXL) 

Nuix Limited (ASX: NXL) is one of the Top ASX AI stocks with a market capitalisation of approximately $506.4 million. It has a strong position as an investigative analytics and intelligence software company.

The company in 1H26 reported strong financial results as Annualised Contract Value (ACV) rose 8.4% year-over-year to $234.4 million while revenue increased 15.2% to $121.2 million.
Adjusted Management EBITDA rose 42.6% to $19.1 million which highlighted stronger operating leverage and improved profitability across the business.

Nuix Neo emerged as a major growth driver as Nuix Neo ACV increased 148% compared with the prior corresponding period to $46.8 million while customer numbers rose to 101 from 75 in June 2025.
The company also improved its long-term outlook after completing the acquisition of Linkurious which is a France-based graph visualisation and investigation technology company that expands Nuix Neo’s AI and data visualisation capabilities.

Its core FY26 strategic objectives are unchanged with plans for continued ACV growth driven by Nuix Neo alongside positive underlying cash flow and a cash balance of $57.8 million.

(Source: Company Reports )