Artificial intelligence sits at the center of many of the stories moving markets today, from resilient consumer demand in several countries to shifting interest rate expectations and energy market tensions. For investors, the challenge is less about spotting the AI trend and more about filtering a crowded universe of potential stocks tied to semiconductors, software, large language models, ChatGPT and cloud infrastructure. This is where an AI Stocks screener focused on companies directly tied to the ChatGPT and AI build out can help. Below, the article highlights 3 stocks from this screener that many investors are watching closely.

Astera Labs (ALAB)

Overview: Astera Labs designs semiconductor-based connectivity solutions that help move data quickly and reliably inside cloud and AI data centers, combining high speed chips with its COSMOS management software to orchestrate large fleets of hardware. Its portfolio spans PCIe/CXL retimers, Ethernet and AI fabric switches, and memory connectivity controllers used by hyperscalers and system manufacturers.

Operations: Astera Labs generates all of its US$1.0b in revenue from semiconductor products, with sales spread across Singapore (US$336.7m), China (US$301.2m), Taiwan (US$263.8m), other regions (US$60.7m), and the United States (US$39.1m).

Market Cap: US$71.5b

Investors interested in AI infrastructure are watching Astera Labs closely because it sits at the intersection of PCIe 6, CXL and emerging standards like UALink that underpin large AI clusters, and it already has partnerships with companies such as NVIDIA, AMD, Microsoft and Intel. Earnings growth has been very strong recently and forecasts point to continued high growth. Q1 2026 revenue was supported by PCIe 6 demand and the ramp of its Scorpio X-Series fabric switches. At the same time, the stock trades on rich valuation metrics, is highly exposed to hyperscaler AI spending, and has seen significant insider selling and share price volatility. This means the upside case comes with meaningful risk if AI data center spending or standards adoption do not play out as expected.

Astera Labs sits at the heart of the AI build out, but its rich valuation and dependence on hyperscalers mean the real story is in the balance of opportunity and risk, revealed in the 2 key rewards and 2 important warning signs

Salesforce (CRM)

Overview: Salesforce provides cloud based customer relationship management tools that help companies manage sales, service, marketing and data. AI agents like Agentforce and its Data 360 engine are designed to let humans and AI work together across one platform. Its products also include Slack, e commerce and analytics tools that connect customer data and workflows across many industries and company sizes.

Operations: Salesforce generates US$42.8b in revenue from its enterprise cloud computing platform, with sales concentrated in the United States at about US$25.9b and the rest from Europe, Asia Pacific and other Americas markets.

Market Cap: US$124.3b

Salesforce is drawing attention because its core CRM platform is now tightly linked with AI agents, a growing Data Cloud business and Slack. Together these are reshaping how customers run sales and service while raising switching costs. Agentforce recurring revenue is already above US$1b a year. Recent acquisitions like Fin aim to deepen AI driven customer support, and management is pairing this with sizeable buybacks and a focus on margins. At the same time, higher debt, potential disruption from AI to traditional subscriptions and tougher competition from hyperscalers mean the upside story comes with execution risk and valuation debate that careful investors may want to examine in more detail.

Salesforce’s AI flywheel of Agentforce, Data Cloud and Slack is accelerating. However, the real story is how the core CRM, margins and buybacks fit together, as outlined in the analysis report for Salesforce

SAP (XTRA:SAP)

Overview: SAP provides enterprise software and cloud services that help large organizations run core functions such as finance, supply chain, HR, procurement and customer experience, increasingly embedding SAP Business AI across products like S/4HANA, SuccessFactors and its Business Technology Platform.

Operations: SAP generates about €37.3b in revenue, with €33.4b from Applications, Technology & Support and €3.9b from Core Services across its global customer base.

Market Cap: €157.5b

Investors watching AI infrastructure and enterprise software are paying close attention to SAP because it sits at the center of mission critical ERP and supply chain systems that customers are now augmenting with generative AI, autonomous workflows and robotics pilots. Earnings grew 27.6% over the past year, while the stock trades on a P/E of 21.4x that some see as supported by high quality earnings and an estimated discount to future cash flows. At the same time, mixed governance signals, elevated CEO pay and funding risk from external borrowing give you issues to weigh up before deciding how SAP fits into an AI focused portfolio.

SAP’s 27.6% earnings growth and 21.4x P/E suggest a stronger core than many give it credit for, but the real twist sits inside the analyst forecasts for SAP and what that implies for those governance concerns.

The three AI stocks in this article are only a starting point, as the full screener has surfaced 643 more companies tied to semiconductors, software, LLMs, ChatGPT and cloud infrastructure that could have equally compelling narratives inside the Artificial Intelligence/ AI Stocks screener. Use Simply Wall St to analyze and filter those companies by the specific catalysts and narratives that matter to you, so you can identify the opportunities in the AI build out that best match your own conviction.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.