Since the emergence of artificial intelligence (AI), the world has been experiencing a noticeable shift in technological advancement. The Australian Securities Exchange (ASX) has not been left behind, as major AI-oriented companies continue to make a name for themselves and increase their market value. Herein, we delve into the five biggest ASX AI stocks of 2024.
1. Appen Limited (APX)
Appen Limited has over the years built its name as one of the leading AI stocks listed on the ASX. Specializing in data and machine learning products, Appen uses its sophisticated AI to keep users informed. Their machine learning models have been essential towards helping companies make practical and informed decisions. In 2024, Appen has further increased its market value, registering positive growth in revenue. Their global reach, impressive customer base, and service quality make them one of the most prominent AI stocks on ASX in 2024.
2. BrainChip Holdings Ltd (BRN)
As a global technology company, BrainChip has been making significant strides in neural networking and AI. Their primary product, Akida, is an advanced neural networking processor that has revolutionized the computing landscape. BrainChip has been consistent in creating shareholder value, evidenced by the steady appreciation of its stock price in 2024. The company’s strong intellectual property portfolio and partnerships have also played a significant role in its rise on the ASX AI market.
3. Nuheara Limited (NUH)
Specializing in smart personal hearing technology, Nuheara has historicized itself within the AI industry. The company uses AI to improve sound and voice in real-time, helping people with hearing issues lead a more comfortable life. Despite the intense competition, Nuheara has managed to remain relevant with its innovative products and strong market presence. In 2024, Nuheara continues to augment its market share on the ASX, making it one of the largest AI stocks.
4. Altium Limited (ALU)
Altium Limited is renowned for its AI-powered software used in electronic designs. Their flagship product, Altium Designer, is widely adopted for designing electronic systems, including printed circuit board (PCB). Altium’s strategic partnerships and focus on research and development have enabled it to maintain a competitive edge. In 2024, the company’s stock saw substantial growth, solidifying its position among the top ASX-listed AI stocks.
5. Bigtincan Holdings Limited (BTH)
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