Investor Insight

Blue Sky Uranium provides exposure to Argentina’s largest NI 43-101 uranium resource, positive project economics at the flagship Ivana Deposit, and an option/joint venture (JV) that funds advancement through feasibility and construction without near-term equity dilution.

Company Overview

Blue Sky Uranium (TSV:BSK,OTC:BKUCF) is emerging as a frontrunner in uranium exploration and development in Argentina. As a member of the Grosso Group, which has pioneered resource exploration in Argentina since 1993 and been involved in four major mineral discoveries, Blue Sky benefits from deep regional expertise and established relationships.

Blue Sky’s flagship Amarillo Grande project, located in Río Negro Province, is a district-scale uranium–vanadium system extending 145 km over approximately 300,000 hectares. Within this project lies the Ivana deposit, Argentina’s largest NI 43-101-compliant uranium resource. The Amarillo Grande project was an in-house discovery by Blue Sky and has the potential to make the company the country’s first domestic uranium supplier as well as an emerging international producer.

To advance the Ivana deposit, Blue Sky established Ivana Minerales (IMSA), a joint venture company with its partner Abatare Spain (COAM), part of Corporación América Group. Under the agreement, COAM can fund up to US$35 million to earn a 49.9 percent indirect interest in Ivana, and may earn up to 80 percent by completing a feasibility study and funding up to US$160 million in development and construction costs to bring the project to commercial production.

The Río Negro Provincial Mining Authority registered the transfer of mining rights to IMSA on June 10, 2025, formally recognizing IMSA as the operating company for the Ivana uranium-vanadium project. IMSA also holds a call option to acquire 100 percent of certain exploration targets surrounding Ivana, subject to additional payments and a 2 percent royalty.

Beyond Amarillo Grande, Blue Sky is expanding its portfolio with projects in the Neuquen Basin targeting uranium deposits amenable to in-situ recovery (ISR) methods, further diversifying its growth potential in line with these positive market trends.

Company Highlights

• Significant Uranium Resource: Controls the largest NI 43-101 compliant uranium resource in Argentina with 17 Mlbs U3O8 in indicated resources and 3.8 Mlbs in inferred resources, plus valuable vanadium credits.
• Low-cost Production Potential: Near-surface mineralization with no blasting required, hosted in loosely consolidated sediments, making for potentially low mining costs.
• Strategic JV Partnership: Secured an earn-in agreement with COAM to advance the Ivana deposit with no funding required by Blue Sky through development. COAM will spend up to US$35 million to earn up to a 49.9 percent interest, and can further earn up to 80 percent by funding development costs to production (up to US$160 million).
• Strong Uranium Market Fundamentals: Global uranium market faces supply deficits with increasing demand from nuclear power generation, with prices strengthening significantly since 2023.
• Domestic Market Opportunity: Argentina has three operational nuclear plants with others under construction or planned, yet imports all uranium for fuel. National legislation guarantees purchase of domestically produced uranium.
• ISR Project Pipeline: New projects in the Neuquen Basin provide future growth through potential in-situ recovery operations, a method that produces 57 percent of the world’s uranium with minimal environmental impact.

Key Projects

Amarillo Grande Project (Flagship)

The Amarillo Grande project, located in Rio Negro Province, is Blue Sky’s cornerstone asset and a district-scale opportunity in Argentina’s uranium sector. Spanning 145 km and covering approximately 300,000 hectares, this project encompasses three main property areas: Ivana, Anit and Santa Barbara. Each area contributes to the project’s significant potential as an emerging uranium-vanadium district.

Ivana Deposit Highlights

• Resource: 19.7 million tons (Mt) of indicated resources grading 333 parts per million (ppm) uranium and 105 ppm vanadium, containing approximately 17 million pounds (Mlbs) of U3O8 and 8.1 Mlbs of V2O5. Additionally, the deposit hosts 5.6 Mt of inferred resources grading 262 ppm uranium and 109 ppm vanadium, containing approximately 3.8 Mlbs of U3O8 and 2.4 Mlbs of V2O5. Importantly, about 80 percent of the current resource is classified in the higher-confidence indicated category, providing a solid foundation for economic studies and development planning.
• Gap Analysis toward PFS/DFS: Led by M3 Engineering, SRK, Hidroar and Lionsgate to define remaining work, sequence and initial capex/opex framework.

Ivana Gap and Ivana Central (near-deposit targets)

• New geophysical results: Single ET/IP line at Ivana Gap outlined a ~1,400-m-wide chargeability anomaly at ~30–60 m depth, interpreted as the northerly extension of the Ivana redox front trend; Q4/25 diamond drilling planned.

Anit

The Anit property located north of Ivana, features a remarkable 15-kilometer airborne radiometric anomaly with extensive surface uranium and vanadium mineralization. Historical drilling along a 5.5-kilometer stretch averaged 2.6 meters at 0.03 percent U3O8 and 0.075 percent V2O5, indicating significant mineralization potential throughout the property. Blue Sky retains 100 percent control of this area, providing substantial upside beyond the Ivana deposit that is currently the focus of the COAM joint venture.

Santa Barbara

The Santa Barbara property represents the company’s initial uranium discovery in the Rio Negro basin, made in 2006. This property exhibits widespread uranium and vanadium mineralization along an 11-kilometer surface trend. While exploration here is less advanced than at Ivana, the geological similarities and surface indicators suggest potential for both near-surface mineralization and deeper blind deposits that could be identified through future exploration campaigns.

ISR Projects

Blue Sky maintains two projects in the Neuquén Basin — Chihuidos (100-percent-owned, 60,000 ha) and Corcovo (20,000 ha under option) — targeting uranium deposits potentially amenable to in-situ recovery (ISR) methods. These projects leverage extensive historical oil and gas well and seismic data to identify subsurface uranium targets. Both projects remain part of Blue Sky’s medium-term growth pipeline. ISR methods currently produce over half of the world’s uranium and align with the Company’s focus on low-cost, low-impact development

San Jorge Basin Projects

Blue Sky also secured strategic positions in the San Jorge Basin: the Sierra Colonia and Tierras Coloradas projects. While less advanced than the Amarillo Grande project, these properties have been selected based on favorable geological characteristics and historical indicators of uranium mineralization. The company is applying the exploration model and expertise developed at Amarillo Grande to efficiently evaluate and advance these prospects.

Management Team

Joseph Grosso – Chairman and Director

Founder of Grosso Group Management, Joseph Grosso has been a pioneer in Argentina’s exploration and mining sector since 1993. He was involved in multiple major discoveries in Argentina, including the Gualcamayo gold mine, Navidad silver project, and Chinchillas silver-lead-zinc mine.

Nikolaos Cacos – President and CEO, Director

Nikolaos Cacos is one of the company’s founders with over 35 years of management experience in mineral exploration. He has extensive expertise in strategic planning and administration of public resource companies.

David Terry – Technical Advisor and Director

David Terry is a professional economic geologist with over 30 years in the resource sector. He has extensive experience in exploration, development and project management in the mining industry.

Martin Burian – Director

Martin Burian holds ICD.D (Institute of Corporate Directors) and chartered professional accountant designations. He has a 30-year career in investment banking to the mining sector, is currently managing director at RCI Capital Group and held similar senior positions at Haywood Securities, Bolder Investment Partners and Canaccord Capital. Burian is an independent member of several other public company boards where his roles include chairman, lead independent director and audit committee chair, as well as privately-held Heffel Gallery Limited, where he is also part-time CFO. Burian’s early career was with KPMG where he obtained his CPA and CBV designations.

Pompeyo Gallardo – VP Corporate Development

Pompeyo Gallardo brings 29 years of experience in corporate finance, with strengths in budgeting and control, project structuring, project financing, and financial modeling and analysis.

Darren Urquhart – CFO

A chartered professional accountant, Darren Urquhart has 20 years of experience in public practice and industry.

Connie Norman – Corporate Secretary

Connie Norman has extensive experience in corporate secretarial and regulatory compliance services for public companies.

Guillermo Pensado – Technical Consultant

Guillermo Pensado is a geologist with extensive experience in the mining sector. He is now focused on the Ivana JV operations.

Luis Leandro Rivera – General Manager (JVCO)

Recently appointed to lead the Ivana joint venture company, Luis Leandro Rivera brings 30 years of experience in all facets of mining from exploration to operations, including most recently serving as senior vice-president of the Latin American region for AngloGold Ashanti, where he oversaw management of four mines in two countries.

_{1 PEA is preliminary in nature and is intended to provide an initial assessment of the project’s economic potential and development options. The PEA mine schedule and economic assessment includes numerous assumptions and is based on both Indicated and Inferred mineral resources. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA results will be realized. Mineral resources are not mineral reserves and do not have demon-strated economic viability. Additional exploration will be required to potentially upgrade the classification of the inferred mineral resources to be considered in future advanced studies.}

Investor Insight

Blue Sky Uranium provides exposure to Argentina’s largest NI 43-101 uranium resource, positive project economics at the flagship Ivana Deposit, and an option/joint venture (JV) that funds advancement through feasibility and construction without near-term equity dilution.

Company Overview

Blue Sky Uranium (TSV:BSK,OTC:BKUCF) is emerging as a frontrunner in uranium exploration and development in Argentina. As a member of the Grosso Group, which has pioneered resource exploration in Argentina since 1993 and been involved in four major mineral discoveries, Blue Sky benefits from deep regional expertise and established relationships.

Blue Sky’s flagship Amarillo Grande project, located in Río Negro Province, is a district-scale uranium–vanadium system extending 145 km over approximately 300,000 hectares. Within this project lies the Ivana deposit, Argentina’s largest NI 43-101-compliant uranium resource. The Amarillo Grande project was an in-house discovery by Blue Sky and has the potential to make the company the country’s first domestic uranium supplier as well as an emerging international producer.

To advance the Ivana deposit, Blue Sky established Ivana Minerales (IMSA), a joint venture company with its partner Abatare Spain (COAM), part of Corporación América Group. Under the agreement, COAM can fund up to US$35 million to earn a 49.9 percent indirect interest in Ivana, and may earn up to 80 percent by completing a feasibility study and funding up to US$160 million in development and construction costs to bring the project to commercial production.

The Río Negro Provincial Mining Authority registered the transfer of mining rights to IMSA on June 10, 2025, formally recognizing IMSA as the operating company for the Ivana uranium-vanadium project. IMSA also holds a call option to acquire 100 percent of certain exploration targets surrounding Ivana, subject to additional payments and a 2 percent royalty.

Beyond Amarillo Grande, Blue Sky is expanding its portfolio with projects in the Neuquen Basin targeting uranium deposits amenable to in-situ recovery (ISR) methods, further diversifying its growth potential in line with these positive market trends.

Company Highlights

• Significant Uranium Resource: Controls the largest NI 43-101 compliant uranium resource in Argentina with 17 Mlbs U3O8 in indicated resources and 3.8 Mlbs in inferred resources, plus valuable vanadium credits.
• Low-cost Production Potential: Near-surface mineralization with no blasting required, hosted in loosely consolidated sediments, making for potentially low mining costs.
• Strategic JV Partnership: Secured an earn-in agreement with COAM to advance the Ivana deposit with no funding required by Blue Sky through development. COAM will spend up to US$35 million to earn up to a 49.9 percent interest, and can further earn up to 80 percent by funding development costs to production (up to US$160 million).
• Strong Uranium Market Fundamentals: Global uranium market faces supply deficits with increasing demand from nuclear power generation, with prices strengthening significantly since 2023.
• Domestic Market Opportunity: Argentina has three operational nuclear plants with others under construction or planned, yet imports all uranium for fuel. National legislation guarantees purchase of domestically produced uranium.
• ISR Project Pipeline: New projects in the Neuquen Basin provide future growth through potential in-situ recovery operations, a method that produces 57 percent of the world’s uranium with minimal environmental impact.

Key Projects

Amarillo Grande Project (Flagship)

The Amarillo Grande project, located in Rio Negro Province, is Blue Sky’s cornerstone asset and a district-scale opportunity in Argentina’s uranium sector. Spanning 145 km and covering approximately 300,000 hectares, this project encompasses three main property areas: Ivana, Anit and Santa Barbara. Each area contributes to the project’s significant potential as an emerging uranium-vanadium district.

Ivana Deposit Highlights

• Resource: 19.7 million tons (Mt) of indicated resources grading 333 parts per million (ppm) uranium and 105 ppm vanadium, containing approximately 17 million pounds (Mlbs) of U3O8 and 8.1 Mlbs of V2O5. Additionally, the deposit hosts 5.6 Mt of inferred resources grading 262 ppm uranium and 109 ppm vanadium, containing approximately 3.8 Mlbs of U3O8 and 2.4 Mlbs of V2O5. Importantly, about 80 percent of the current resource is classified in the higher-confidence indicated category, providing a solid foundation for economic studies and development planning.
• Gap Analysis toward PFS/DFS: Led by M3 Engineering, SRK, Hidroar and Lionsgate to define remaining work, sequence and initial capex/opex framework.

Ivana Gap and Ivana Central (near-deposit targets)

• New geophysical results: Single ET/IP line at Ivana Gap outlined a ~1,400-m-wide chargeability anomaly at ~30–60 m depth, interpreted as the northerly extension of the Ivana redox front trend; Q4/25 diamond drilling planned.

Anit

The Anit property located north of Ivana, features a remarkable 15-kilometer airborne radiometric anomaly with extensive surface uranium and vanadium mineralization. Historical drilling along a 5.5-kilometer stretch averaged 2.6 meters at 0.03 percent U3O8 and 0.075 percent V2O5, indicating significant mineralization potential throughout the property. Blue Sky retains 100 percent control of this area, providing substantial upside beyond the Ivana deposit that is currently the focus of the COAM joint venture.

Santa Barbara

The Santa Barbara property represents the company’s initial uranium discovery in the Rio Negro basin, made in 2006. This property exhibits widespread uranium and vanadium mineralization along an 11-kilometer surface trend. While exploration here is less advanced than at Ivana, the geological similarities and surface indicators suggest potential for both near-surface mineralization and deeper blind deposits that could be identified through future exploration campaigns.

ISR Projects

Blue Sky maintains two projects in the Neuquén Basin — Chihuidos (100-percent-owned, 60,000 ha) and Corcovo (20,000 ha under option) — targeting uranium deposits potentially amenable to in-situ recovery (ISR) methods. These projects leverage extensive historical oil and gas well and seismic data to identify subsurface uranium targets. Both projects remain part of Blue Sky’s medium-term growth pipeline. ISR methods currently produce over half of the world’s uranium and align with the Company’s focus on low-cost, low-impact development

San Jorge Basin Projects

Blue Sky also secured strategic positions in the San Jorge Basin: the Sierra Colonia and Tierras Coloradas projects. While less advanced than the Amarillo Grande project, these properties have been selected based on favorable geological characteristics and historical indicators of uranium mineralization. The company is applying the exploration model and expertise developed at Amarillo Grande to efficiently evaluate and advance these prospects.

Management Team

Joseph Grosso – Chairman and Director

Founder of Grosso Group Management, Joseph Grosso has been a pioneer in Argentina’s exploration and mining sector since 1993. He was involved in multiple major discoveries in Argentina, including the Gualcamayo gold mine, Navidad silver project, and Chinchillas silver-lead-zinc mine.

Nikolaos Cacos – President and CEO, Director

Nikolaos Cacos is one of the company’s founders with over 35 years of management experience in mineral exploration. He has extensive expertise in strategic planning and administration of public resource companies.

David Terry – Technical Advisor and Director

David Terry is a professional economic geologist with over 30 years in the resource sector. He has extensive experience in exploration, development and project management in the mining industry.

Martin Burian – Director

Martin Burian holds ICD.D (Institute of Corporate Directors) and chartered professional accountant designations. He has a 30-year career in investment banking to the mining sector, is currently managing director at RCI Capital Group and held similar senior positions at Haywood Securities, Bolder Investment Partners and Canaccord Capital. Burian is an independent member of several other public company boards where his roles include chairman, lead independent director and audit committee chair, as well as privately-held Heffel Gallery Limited, where he is also part-time CFO. Burian’s early career was with KPMG where he obtained his CPA and CBV designations.

Pompeyo Gallardo – VP Corporate Development

Pompeyo Gallardo brings 29 years of experience in corporate finance, with strengths in budgeting and control, project structuring, project financing, and financial modeling and analysis.

Darren Urquhart – CFO

A chartered professional accountant, Darren Urquhart has 20 years of experience in public practice and industry.

Connie Norman – Corporate Secretary

Connie Norman has extensive experience in corporate secretarial and regulatory compliance services for public companies.

Guillermo Pensado – Technical Consultant

Guillermo Pensado is a geologist with extensive experience in the mining sector. He is now focused on the Ivana JV operations.

Luis Leandro Rivera – General Manager (JVCO)

Recently appointed to lead the Ivana joint venture company, Luis Leandro Rivera brings 30 years of experience in all facets of mining from exploration to operations, including most recently serving as senior vice-president of the Latin American region for AngloGold Ashanti, where he oversaw management of four mines in two countries.

_{1 PEA is preliminary in nature and is intended to provide an initial assessment of the project’s economic potential and development options. The PEA mine schedule and economic assessment includes numerous assumptions and is based on both Indicated and Inferred mineral resources. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA results will be realized. Mineral resources are not mineral reserves and do not have demon-strated economic viability. Additional exploration will be required to potentially upgrade the classification of the inferred mineral resources to be considered in future advanced studies.}

American AI stocks

According to Ascendix, there are around 90,000 AI companies worldwide, of which 32 percent are headquartered in the United States.

One of the major factors fueling growth in the American AI market, states Statista, is “the growing investments and partnerships among technology companies, research institutions, and governments.’

Below are three of the top US AI stocks by market cap. For more US AI stocks, check out our list of 12 generative AI stocks and 5 AI ETFs.

1. NVIDIA (NASDAQ:NVDA)

Market cap: US$4.59 trillion

The global leader in graphics processing unit (GPU) technology, NVIDIA is designing specialized chips used to train AI and machine-learning models for laptops, workstations, mobile devices, notebooks and PCs.

The company is partnering with a number of big-name tech firms to bring various key AI products to market.

Through its partnership with Dell Technologies (NYSE:DELL), NVIDIA is developing AI applications for enterprises, such as language-based services, speech recognition and cybersecurity.

The chipmaker has also been instrumental in the buildout of Meta Platforms’ (NASDAQ:META) AI supercomputer. Called the Research SuperCluster, it reportedly uses a total of 16,000 NVIDIA GPUs.

In early 2024, Taiwan Semiconductor Manufacturing Company (NYSE:TSM) and NVIDIA released the world’s first multi-die chip specifically designed for AI applications: the Blackwell GPU. Blackwell’s architecture allows for the increased processing power needed to train larger and more complex AI models.

NVIDIA’s biggest AI news for 2025 concerns its US$100 billion partnership with OpenAI announced on September 22. NVIDIA will fund a massive data center buildout to become the backbone of OpenAI’s superintelligence ambitions.

2. Microsoft (NASDAQ:MSFT)

Market cap: US$3.9 trillion

Microsoft has committed billions to OpenAI, but the tech behemoth has also built its own AI solutions based on the chatbot creator’s technology: Bing AI and Copilot. OpenAI officially licensed its technologies to Microsoft in 2020.

In late May 2024, Microsoft unveiled its Copilot+ Windows PCs, its first range of AI-equipped PCs. According to the company, they are the “fastest, most intelligent Windows PCs ever built.”

An update to Windows 11 in October 2024 included upgrades to the Copilot artificial intelligence platform capabilities, including the introduction of the ability to speak directly to the AI helper.

Microsoft’s moves into generative AI have translated into higher revenues for its Azure cloud computing business and a higher market capitalization — the tech giant pushed past the US$3 trillion mark in January 2024 and its managed to maintain that level up even after the March 2025 stock sell-off as a result of tariffs and trade wars by US President Donald Trump.

Microsoft announced an US$80 billion investment in US-based AI infrastructure earlier this year, followed by the integration of its Copilot AI tools into Microsoft 365. In October 2025, the company launched an open source framework that will allow developers to build out agentic AI applications.

3. Alphabet (NASDAQ:GOOGL)

Market cap: US$2.96 trillion

Alphabet holds court with both Microsoft and NVIDIA as part of the tech sector’s Magnificent 7, and its foray into AI has similarly brought the tech giant much success. The company has created the AI chatbot Gemini, formerly known as Bard, which is integrated into products such as its Google Suite, the Chromecast browser and the Google Pixel phone line.

Alphabet’s market cap surpassed the US$2 trillion mark in April 2024. That same month, Google introduced a custom AI chip designed for its cloud services customers. The technology uses British semiconductor company Arm Holding’s (NASDAQ:ARM) AI architecture. In the same week, Google revealed its new A3 Mega AI processor based on NVIDIA’s H100 Technology.

At the NVIDIA GTC 2025 conference, Alphabet and NVIDIA announced a series of AI-focused partnerships in the sectors of robotics, drug discovery and manufacturing.

As of October 2025, Alphabet is testing a Gemini AI app redesign with the goal of improving user experience and increasing engagement through more visuals and scrolling feed rather than a chat interface.

Canadian AI stocks

Recognized as a world-leading AI research hub, Canada ranks eighth out of 83 countries in the Global AI Index. Since 2017, the Canadian government has invested hundreds of millions of dollars into accelerating the research and commercialization of AI technology in the country through the Pan-Canadian AI Strategy.

Research by IBM (NYSE:IBM) shows Canadian businesses are increasingly adopting AI, with 56 percent of IT professionals in large enterprises reporting that they plan to increase deployment the technology in their operations for 2025.

Below are three of the top Canadian AI stocks by market cap. For more Canadian AI stocks, take a look at our list of 5 small-cap Canadian AI stocks.

1. CGI (TSX:GIB.A,NYSE:GIB)

Market cap: C$27.89 billion

Montreal-based CGI is among the world’s largest IT systems integration companies, and offers a wide range of services, from cloud migration and digital transformation to data analysis, fraud detection and even supply chain optimization. Its more than 700 clients span the retail, wholesale, consumer packaged goods and consumer services sectors worldwide.

Through a partnership with Google, CGI is leveraging the Google Cloud Platform to strengthen the capabilities of its CGI PulseAI solution, which can be integrated with existing applications and workflows.

CGI is aggressively working to expand its generative AI capabilities and client offerings. In early March 2024, the company launched Elements360 ARC-IBA, an AI powered platform for brokers and insurers to settle accounts in the UK broking industry. Later in September, CGI signed the EU’s Artificial Intelligence Act pledge to work for trustworthy and safe AI development.

The company’s AI-powered CGI DigiOps toolkit won the Association of Chartered Certified Accountants (ACCA) India Award 2024 for Excellence in Digital Transformation in February 2025. CGI DigiOps is used in several industries, including the energy and utilities, and retail sectors. “This award for digital transformation excellence is a testament to our commitment to delivering end-to-end AI-powered solutions to achieve meaningful outcomes for our clients,’ Rakesh Aerath, President, CGI Asia Pacific Global Delivery Centers of Excellence.

2. OpenText (TSX:OTEX)

Market cap: C$13.52 billion

Ontario-based OpenText is one of Canada’s largest software companies. The tech firm develops and sells enterprise information management software. Its portfolio includes hundreds of products in the areas of enterprise content management, digital process automation and security, plus AI and analytics tools.

OpenText serves small businesses, large enterprises and governments alike. Its AI & Analytics platform has an open architecture that enables integration with other AI services, including Google Cloud and Azure. It can leverage all types of data, including structured or unstructured data, big data and the internet of things to quickly create interactive visuals.

Last year, OpenText launched Cloud Editions 24.1, which includes enhancements to its OpenText Aviator portfolio.

OpenText has also been expanding its AI-powered cybersecurity offerings. In early 2025, the company launched OpenText Core Threat Detection and Response, which leverages AI-driven behavioral analytics to detect insider threats and cyberattacks.

The company sold of its eDocs business unit in October 2025 in order to increase focus on building out its AI capabilities and offerings.

3. Propel Holdings (TSX:PRL)

Market cap: C$1.04 billion

Propel Holdings is a fintech company that has designed an AI-powered lending-as-a-service platform for consumers seeking alternative access to credit outside of the traditional banking system. Its operating brands include Fora Credit, CreditFresh, MoneyKey and QuidMarket.

With operations in Canada, the US and the UK, the company claims that is has ‘helped consumers access over one million loans and lines of credit and over two billion dollars in credit.’

In September, Propel ranked sixth on the TSX30 2025 annual ranking, which recognizes the 30 best-performing companies over a three-year period on the Toronto Stock Exchange. The company also ranked 147th in the 2025 Report on Business magazine’s ranking of Canada’s top growing companies by three year revenue growth, with Propel’s revenue climbing 247 percent.

Australian AI stocks

Australia’s AI innovation and number of AI companies are growing consistently, according to a June 2025 government report on the country’s AI ecosystem.

According to the report, of the 412 public AI firms it identified, ‘Most public AI companies are well-established organisations that have operated in Australia for years or decades. Their expanding AI capabilities primarily stem from strategic shifts, increased investment in internal AI capabilities and acquisitions of AI-developing firms.’

Below are three of the top Australian AI stocks by market cap. For more ASX AI shares, check out our list of the 5 biggest ASX AI stocks.

1. NextDC (ASX:NXT)

Market cap: AU$10.8 billion

NEXTDC is Australia’s leading data center operator, with facilities currently operational or under development throughout Australia. The company also has data centers under development in New Zealand, Malaysia and Japan.

NEXTDC’s clients include some of the world’s largest cloud providers, such as Amazon (NASDAQ:AMZN) Web Services, Microsoft Azure, and Alphabet’s Google Cloud. The company also obtained NVIDIA’s DGX-Ready Data Centre Program certification, enabling it to optimize NVIDIA’s AI platforms and power advanced AI data centers in Australia.

In its financial report for its fiscal 2025 ended June 30, 2025, the company reported total revenue of AU$427.2 million, a 6 percent increase from the same period in the year prior. Its net revenue was up 14 percent to AU$350.2 million.

NEXTDC is the 2025 recipient of the Australian Competitive Strategy Leadership Recognition in the data center services industry.

2. Megaport (ASX:MP1)

Market cap: AU$2.56 billion

Megaport network-as-a-service provider that offers a software-defined network (SDN) platform to businesses, data centers and cloud providers. Although it calls Queensland, Australia, home, the company has operations in over 25 countries.

Megaport has strategic partnerships with cloud service providers like Amazon’s (NASDAQ:AMZN) Amazon Web Services and Microsoft’s (NASDAQ:MSFT) Microsoft Azure. Users of its Megaport Virtual Edge can use devices such as routers and firewalls without the need for physical hardware in a data center.

The scalability and on-demand nature of Megaport’s technology makes it ideal for businesses employing AI tools. The company’s AI Exchange platform connects customers with an ecosystem of over 30 AI service providers.

3. Nuix (ASX:NXL)

Market cap: AU$1.01 billion

Sydney-based Nuix is a leading provider of data processing, investigative analytics and intelligence software. Its client base includes legal, compliance, forensic investigations, cybersecurity and data governance sectors.

The company’s patented Nuix Neo technology uses advanced deep learning techniques to better train AI models for more efficient, scalable and cost-effective document classification. Launched in July 2023, Nuix Neo is accessed through a browser-based, collaborative interface, and includes end-to-end automation, investigative analytics and AI-enabled workflows.

This year, Nuix inked a deal with Indian multinational technology firm Tech Mahindra to provide AI-driven cyber risk management and data analytics tools. Tech Mahindra services the banking, insurance, telecommunications and government sectors.

Additionally, in mid-September, the company won a multiyear contract to supply forensic analysis software to the tax authority of Rhineland-Palatinate state in Germany.

FAQs for AI stocks

US-Australia alliance

A report by Small Caps highlighted antimony as an “overlooked mineral” in the US-Australia alliance.

It particularly mentioned how Australia’s Ambassador to the US, Kevin Rudd, invited leading companies to provide a briefer on relevant antimony projects prior to the US-Australia meeting.

They were asked to include key minerals identified, planned expansion activities and corporate engagements with US government agencies for projects that may serve as key assets in the alliance.

Included are Nova Minerals (ASX:NVA,NASDAQ:NVA), who was asked to speak on its flagship Estelle gold-antimony project, and Resolution Minerals (ASX:RML,OTCQB:RLMLF) for its Idaho-based Horse Heaven gold-antimony-tungsten project.

Estelle currently holds a global JORC-compliant measured, indicated and inferred resource of 9.9 million ounces of gold.

On October 28, Nova announced that Estelle received funding of US43.4 million from the U.S. Department of War to fast-track onshore antimony production from 2026 to 2027. The project has also secured equipment that will be delivered to the site in January 2026.

Horse-Heaven, on the other hand, reported maiden drill hole results last October 28. Returns included 12.9 meters at 2.32 grams per tonne (g/t) gold from 94.4 meters and 70.8 meters at 2.24 g/t gold from 128.8 meters.

The project sits near Perpetua Resources’ (TSX:PPTA,NASDAQ:PPTA) Stibnite mine, which hosts a 4.8 million ounce gold reserve and a historic record of 90 percent US antimony output during World War II.

Australian assets

CSIRO Mineral Processing Specialist Paul Bruer said that antimony’s recognition as a critical mineral across countries ignites “interest in Australia’s stibnite reserves and the processing of these to antimony metal or antimony oxide onshore.”

New South Wales, Queensland, Victoria and Western Australia were cited as key areas for stibnite reserves.

Alkane Resources (ASX:ALK,OTCQB:ALKEF) Costerfield project in Victoria was highlighted in the report as the sole stibnite-gold concentrate-producing mine that is currently exporting overseas.

Costerfield had a production record of 1,282 tonnes of antimony in 2024.

Also included is the Hillgrove antimony-gold project in New South Wales, which is expected to become Australia’s largest antimony producer.

Hillgrove is currently owned Larvotto Resources (ASX:LRV), which received an acquisition proposal from United States Antimony (NYSEAMERICAN:UAMY)) in mid-October.

It is projected to produce about 7 percent of global antimony supply and is scheduled to recommence in 2026.

Recently, the Sunday Creek gold-antimony project by Southern Cross Gold (ASX:SXG) has also been gaining momentum following new “record-setting intercepts” recorded in May.

Sunday Creek is targeting a maiden resource in 2027.

“Antimony in stibnite is mainly found in association with gold, but is also found associated with some base metal ores,” Breuer added. “It can also be produced as a secondary product from smelters treating base metal ores.”

CSIRO recommendations

Beyond capitalising on ore expertise and knowledge in sustainable processing, CSIRO said that it is possible for Australia to develop an economic and environmentally friendly process of its own.

The organization underlined that there are currently no processing routes for antimony production and gold recovery in Australia, adding that there is considerable interest from Australian mining companies to process stibnite-gold concentrates onshore.

“As the world pivots toward clean energy and more digital infrastructure, antimony’s role will only grow,” the report ended.

“As global supply chains tighten, Australia, backed by stable government, advanced mining and processing expertise and rich stibnite reserves, is poised to become a global leader in antimony production.”

A commentary by FN Media group said that the antimony market size is projected to grow US$1.78 billion by 2032. The company also stated in a separate report that global demand for antimony is projected to grow from US$2.5 billion in 2024 to US$3.5 billion by 2030.