AI-Involved Software & Semi Company List — 2026-06-29
Snapshot date 2026-06-29. Trigger: extract AI major players and beneficiaries only from the SW/Semi universe.
Numbers below are as of 2026-06-29 close. Re-verify PE/FPE/PEG/6M before acting — this is a research snapshot, not live data.
SEMI — AI Core
Tier 1 — AI Absolute Beneficiaries (Must own)
| Tkr | MktCap | PE/FPE | PEG | 6M | AI Role |
|---|
| NVDA | $4.66T | 29/15 | 0.34 | +2% | Full-stack AI GPU monopoly (train + inference) |
| AVGO | $1.74T | 61/19 | 0.33 | +4% | Custom AI ASIC (Google TPU / Meta MTIA foundry) + AI DC switching |
| TSM | $2.24T | 36/22 | 0.66 | +46% | Sole AI-chip foundry (NVDA / AVGO / AMD all fab here) |
| AMD | $851B | 171/39 | 0.62 | +143% | AI accelerator #2 (MI300/MI350, Anthropic training) |
| MU | $1.28T | 26/8 | 0.05 | +310% | HBM AI-memory core (NVDA H100/B100 pairing) |
Tier 2 — AI Equipment (Picks & Shovels — AI capex direct)
| Tkr | MktCap | PE/FPE | PEG | 6M | AI Role |
|---|
| ASML | $692B | 60/36 | 1.36 | +69% | Sole EUV supplier — required for advanced nodes |
| AMAT | $498B | 59/38 | 1.31 | +141% | Deposition + CVD — required for HBM / 3D NAND |
| LRCX | $474B | 72/47 | 1.40 | +116% | Etch + ALD — HBM process-critical |
| KLAC | $325B | 70/49 | 2.17 | +96% | Defect inspection — required for AI advanced-node yield |
Tier 3 — AI Niche / Specialty
| Tkr | MktCap | PE/FPE | 6M | AI Role |
|---|
| MRVL | $233B | 91/43 | +204% | Custom AI ASIC (Amazon / MSFT clients) |
| ARM | $356B | 395/110 | +198% | Edge + server AI inference (Apple / NVDA GB200) |
| ALAB | $67B | 264/89 | +132% | AI interconnect (PCIe Gen6 / CXL — next-gen critical) |
Semi EXCLUDED (not AI, long-term avoid):
INTC · QCOM · TXN · ADI · NXPI · STM · MCHP · ON — all cyclical / mobile / auto exposure, minimal AI benefit.
SOFTWARE — AI Core
Tier 1 — AI Hyperscaler / Infrastructure
| Tkr | MktCap | PE/FPE | PEG | 6M | %52WH | AI Role |
|---|
| MSFT | $2.77T | 22/19 | 1.03 | −23% | 66% | Azure AI + Copilot + OpenAI strategic partner — SW #1 |
| ORCL | $428B | 26/14 | 0.52 | −24% | 43% | OCI AI cloud (OpenAI client) + AI DB (deep discount, wait for stabilization) |
Tier 2 — AI Application Leaders (Agentic AI)
| Tkr | MktCap | PE/FPE | PEG | 6M | AI Role |
|---|
| PLTR | $271B | 127/55 | 0.91 | −42% | AIP (AI Platform) — enterprise AI-agent leader (already pulled back) |
| NOW | $101B | 58/19 | 0.93 | −36% | Now Assist enterprise AI agents — down to 47% of 52WH |
| CRM | $130B | 18/10 | 0.80 | −40% | Agentforce — cheapest AI-agent SaaS by valuation |
Tier 3 — AI Cybersecurity (secular winners)
| Tkr | MktCap | PE/FPE | PEG | 6M | AI Role |
|---|
| PANW | $248B | 250/74 | 5.89 | +62% | XSIAM AI-driven SOC — industry leading (expensive but breaking out) |
| CRWD | $178B | N/A/112 | 3.84 | +46% | Charlotte AI endpoint EDR — deep moat |
| ZS | $21B | N/A/29 | 1.57 | −42% | AI zero-trust — bounce candidate |
Tier 4 — AI Data & Observability
| Tkr | MktCap | PE/FPE | 6M | %52WH | AI Role |
|---|
| SNOW | $86B | N/A/92 | +11% | 88% | Cortex AI + data cloud — foundation of AI training data |
| DDOG | $85B | 640/84 | +70% | 89% | AI observability — LLM monitoring leader |
| NBIS | $61B | 80/N/A | +167% | 87% | AI cloud compute (GPU rental, similar to CRWV) — high vol |
Tier 5 — AI Chip Design Tools (EDA)
| Tkr | MktCap | PE/FPE | PEG | 6M | AI Role |
|---|
| CDNS | $104B | 88/40 | 2.64 | +19% | EDA duopoly — AI chip design required |
| SNPS | $87B | 105/26 | 1.58 | −4% | EDA #2 — somewhat cheaper valuation |
Software EXCLUDED (AI is only edge / not core):
ADBE · ADP · PAYX · SAP · UBER · SHOP · ZM · WDAY · INTU · ROP · CPAY · VRSN · FFIV · CDAY · TEAM · HUBS · MDB — AI is a peripheral add-on, not the earnings driver.
AI Bonus — Cross-Industry Direct AI Beneficiaries
Not in SW/Semi buckets but pure-play AI infrastructure exposure.
| Tkr | MktCap | Industry | 6M | AI Role |
|---|
| ANET | $199B | Network HW | +20% | AI DC switching (NVDA Spectrum-X standard, beating Cisco) |
| VRT | $117B | Electrical eq. | +83% | AI DC cooling + power (liquid cooling leader) |
| GEV | $281B | Industrial mach. | +58% | AI DC electricity supply (GE Vernova — grid + generation) |
| APH | $201B | Electronic parts | +19% | AI high-speed connectors (GB200 NVLink key supplier) |
| SMCI | $20B | Computer HW | −0% | AI server assembly (was down but bottomed, FPE 10) |
| ETN | $156B | Industrial mach. | +25% | AI DC power management |
| PWR | $103B | Engineering constr. | +58% | AI DC construction leader |
Suggested Portfolio Reallocation (based on 25% Semi / 10% SW)
Semi $50K (portfolio $200K × 25%)
- NVDA $15K (30%)
- AVGO $12K (24%)
- TSM $8K (16%)
- AMD $6K (12%)
- MU $5K (10%)
- ASML / AMAT $2K each (8%)
Software $20K
- MSFT $7K (35%)
- CRM $3K (15%)
- PANW $3K (15%)
- CRWD $3K (15%)
- PLTR $2K (10%)
- SNOW $2K (10%)
Optional AI-Bonus bucket $15K (separate — not counted in Semi/SW)
- VRT $5K — AI DC critical
- ANET $4K — AI network
- GEV $3K — AI power
- APH $3K — AI interconnect
Fully EXCLUDE from portfolio (non-AI SW/Semi names to clear)
- INTC ($13K) — not an AI-cycle beneficiary; actually a victim
- CF · FSLR — completely AI-unrelated
- TSLA · HOOD — not AI-story primary
- BEX · SLV · XLE — commodities, no AI exposure
Follow-up Q&A on Same Day
Q: NET (Cloudflare) — long-term hold?
Verdict: 5/10 long-term. AI-adjacent, not AI-core.
Reason: FPE 149.87, PEG 4.62, still GAAP-negative. AI revenue < 5% of total (CDN + DDoS remain 60%+ of business).
AI segments (Workers AI, AI Gateway, Vectorize, R2) are real edge-AI infra but not driving the earnings inflection.
- Short-mid (1-3M): hold with stop. Already up 7-10% from entry. If price tags CW $250 STRONG this week, take half; hold PW $220 as stop.
- Long (1yr+): not core — for edge-AI infra long, MSFT (Azure) beats NET on moat, profitability, and valuation. Keep NET as satellite (< 5% portfolio), not core.
Long-hold triggers to watch for NET:
- Workers AI revenue reported separately AND growing > 30% YoY
- GAAP profitability turns positive
- FPE drops below 80
- AI Gateway customer count accelerates materially
For AI long-term software core priority: MSFT > CRM > PANW > CRWD > NET.
Caveats
- All PE/FPE/PEG/6M/%52WH numbers are 2026-06-29 close snapshots. Refresh before making sizing decisions.
- Bucket assignments (Tier 1/2/3/4/5) reflect AI-revenue-mix and moat judgment as of that date. A ticker can drift tiers as new product launches (or AI-hype fades) reshape the mix.
- "EXCLUDED" lists are AI-narrative only — a name can still trade well for other reasons (cyclical bottom, buyback, etc.). Exclusion means "don't buy the AI story," not "avoid entirely."
- Portfolio dollar allocations assume $200K total. Scale linearly.