AI Stocks

The AI Stack: Infrastructure, Innovation, and Applications

We have curated a universe of more than 170 AI stocks drawn from leading AI-focused ETFs and indices, giving a comprehensive view of the AI ecosystem. We frame this universe using a car analogy, where each layer of the AI stack works together to drive performance. From hardware, the engine, and data, the fuel, to applications, how the car is used, and security, the seatbelts, every layer plays a critical role in turning AI innovation into real-world impact.

AI Stack Framework: The “Car” Analogy

1. Hardware & Infrastructure – The Engine and Chassis
This is the physical foundation of AI. Like a car’s engine and frame, it provides the compute power and structure that everything else relies on.
Example: GPUs, TPUs, servers, and data-centre hardware.

2. Data & Integration – The Fuel Quality
AI runs on data, but quality matters. Clean, well-integrated data determines how efficiently the system performs, much like fuel quality affects engine output.
Example: Data pipelines, integration platforms, and data management tools.

3. Networks & Connectivity – The Roads and Highways
Connectivity allows AI systems to move information quickly and reliably, just as roads enable cars to travel.
Example: Cloud networking, fibre, 5G, and edge connectivity.

4. AI Development & Model Training – The Control System
This is where AI is built, trained, and optimised, similar to a car’s control software and tuning.
Example: Model training platforms, AI frameworks, and optimisation tools.

5. Application & Edge – How the Car Is Used
This is where AI delivers real-world value, depending on the use case.
Example: Chatbots, enterprise software, robotics, and autonomous systems.

6. Security, Compliance & Sustainability – Safety Systems and Rules
These layers ensure AI is safe, compliant, and sustainable, much like seatbelts, brakes, and traffic laws.
Example: Cybersecurity, governance tools, privacy, and sustainability solutions.

7. Power & Cooling – The Battery and Radiator
AI systems are energy-intensive and generate significant heat. Without reliable power and effective cooling, the system cannot scale.
Example: Grid infrastructure, on-site power, and advanced data-centre cooling.

8. Quantum Computing – The Future Supercar
Still early, but potentially transformative. Quantum represents the next leap in performance, not yet mainstream but strategically important.
Example: Quantum processors and experimental AI acceleration.

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