Artificial intelligence is moving from buzzword to real-world spending priority, even as global inflation, interest rates, and growth trends keep shifting. While central banks weigh inflation risks and bond yields move on policy headlines, companies behind AI chips, software, cloud, and large language models such as ChatGPT sit at the heart of that structural shift. This AI Stocks screener focuses on businesses that are directly tied to that trend, from semiconductors to infrastructure and tools. In this article, you will see 3 of the stocks from the screener that many investors are watching right now.

MARA Holdings (MARA)

Overview: MARA Holdings is an energy and digital infrastructure company that uses Bitcoin mining and AI computing to monetize excess or underused power, manage energy usage across its sites, and support AI inference workloads across North America, the Middle East, Europe, and Latin America.

Operations: MARA Holdings currently generates its revenue primarily from its Digital Currency Blockchain segment, which reported about US$867.8 million.

Market Cap: US$5.4b

Investors watching the AI buildout should keep an eye on MARA Holdings as it pivots from being mainly a Bitcoin miner toward supplying power and compute capacity for AI data centers. This strategy is backed by its Long Ridge Energy & Power acquisition and a multi gigawatt project pipeline. The company is still unprofitable, carries a high P/S multiple, and depends heavily on a volatile crypto business, so funding and earnings risk are present. Its focus on energy efficient, vertically integrated infrastructure and active management of a large Bitcoin treasury provide tools to support that shift. The key consideration is how this balance between AI growth potential and crypto risk compares once you look at the full picture.

MARA Holdings is trying to turn volatile Bitcoin power into steady AI infrastructure, but the real story sits in how its crypto exposure, cash needs, and AI plans fit together in one picture. Get the MARA Holdings financial health report

ServiceNow (NOW)

Overview: ServiceNow is an enterprise software company that runs digital workflows for large organizations, helping IT, finance, HR, legal, security and operations teams manage tickets, approvals, data and AI driven automation on a single cloud platform.

Operations: ServiceNow generates about US$14b in revenue from its Internet Software & Services business, with the United States contributing roughly US$8.3b and Europe, the Middle East and Africa around US$3.6b.

Market Cap: US$98.0b

ServiceNow attracts attention in the AI conversation because it sits where most of the actual work happens, connecting systems, data and AI agents into workflows that large enterprises already depend on every day. The company combines double digit revenue and earnings growth, high free cash flow and a net cash position, while building out AI focused offerings like AI Control Tower and Now Assist with partners including IBM, Nvidia and major cloud providers. At the same time, a rich P/E multiple, heavy reliance on external funding facilities, insider selling and questions around executive pay mean investors cannot ignore risk. For anyone tracking AI infrastructure stocks, the key question is whether ServiceNow’s workflow and governance role in enterprise AI is being fully reflected in the current valuation.

ServiceNow’s AI workflow engine sits at the junction of growth, cash generation and a rich P/E, and many investors may be missing how those pieces fit together. Read the analysis report for ServiceNow for the twist that could change the story.

Alphabet (GOOGL)

Overview: Alphabet is the parent company behind Google Search, YouTube, Android and a wide range of consumer and enterprise products, earning most of its money from digital advertising while also selling cloud services, devices, subscriptions and AI tools.

Operations: Alphabet generates the bulk of its roughly US$422.5b in revenue from Google Services at about US$355.1b, with Google Cloud contributing about US$66.5b and Other Bets about US$1.5b.

Market Cap: US$4,487.9b

Alphabet sits at the center of AI infrastructure and monetization, with a global ad business that generates high cash flow, a now profitable Google Cloud unit and Gemini AI being integrated into everything from Search to Workspace. Earnings growth of 44.3% over the past year, a 5 year earnings growth average of 18.3% and a 33.5% ROE indicate how efficiently it turns that scale into profits. The catch is that heavy AI capital expenditure, equity raises of roughly US$80b or more, and talent departures at DeepMind raise questions about dilution, execution risk and long term AI leadership. For investors in AI infrastructure, the key question is whether current pricing fairly reflects both that strength and those fault lines.

Alphabet’s profit engine and Gemini rollout look tightly linked, yet the real story may be how future expectations stack against current pricing. Get the analyst forecasts for Alphabet before the next chapter in this AI race is fully priced in

The three stocks here are only a starting point, as the full Artificial Intelligence/ AI Stocks screener surfaces 199 more companies directly tied to the AI and ChatGPT buildout, each with its own potential catalyst and risk story. Use Simply Wall St to identify, analyze, and filter those AI stocks by the exact triggers that matter to you, from chip demand and cloud spending to LLM deployment and workflow automation, so you can focus on the highest conviction ideas in this theme.

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Seeking Fresh Alternatives Before Others Do

Markets move fast and the best breakout stories rarely stay under the radar for long. To spot fresh momentum and quiet quality before the crowd moves in, consider taking action early.

• Identify strong balance sheets before momentum catches up by running your own filter through the list of solid balance sheet and fundamentals (48 results) curated from detailed fundamentals.
• Explore early strength in companies participating in the next energy buildout by checking the curated 89 nuclear energy infrastructure stocks while it is still less widely followed.
• Search for resilient performers as conditions shift by scanning the hand picked 66 resilient stocks with low risk scores that focuses on lower risk scores and financial staying power.

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.