Not every big winner in the AI boom will come from flashy chatbots or headline-grabbing startups. Some of the most reliable opportunities are hiding in plain sight—in companies supplying the infrastructure that every AI application depends on.
These are the “picks-and-shovels” of the AI gold rush. Whether it’s powering cloud workloads, manufacturing next-gen chips, or enabling quantum breakthroughs, these businesses are positioned to benefit no matter which specific applications take the lead.
Here are three stocks we’re watching right now:
Amazon (NASDAQ: AMZN) – AWS Is Quietly Becoming the Profit Engine of the AI Era
While most investors still associate Amazon with e-commerce, the real growth story is Amazon Web Services (AWS). At $206 per share, Amazon’s cloud division is responsible for 63% of total operating income—despite only accounting for 19% of revenue.
AWS is growing 17% year-over-year with operating margins near 39%, far outpacing the retail segment. Two major trends are pushing this growth: the long-term shift from on-premises to cloud, and the explosion in demand for AI training infrastructure. Companies don’t want to build expensive in-house setups—and AWS is where they go instead.
With the global cloud market expected to triple by 2030, Amazon’s dominance in this space is becoming harder to ignore. For investors, it may be time to reevaluate Amazon through the lens of operating income—not top-line growth diluted by legacy segments.
IonQ (NYSE: IONQ) – The Only Quantum Player Integrated Across All Major Cloud Platforms
IonQ is the standout name in quantum computing, thanks to its proprietary trapped-ion technology and a growing list of high-profile partnerships. Currently trading around $35 with a $9B market cap, it’s the only quantum hardware provider available on AWS, Azure, and Google Cloud.
That cloud accessibility—and strong strategic backing from firms like Nvidia, Toyota Tsusho, and General Dynamics—positions IonQ at the heart of the next major computing shift. The company is already generating revenue with its Forte Enterprise system and is targeting an $87B total addressable market by 2035.
Quantum may feel futuristic, but IonQ is turning theory into traction. For investors looking to gain exposure early, this is one of the few publicly traded names with both real revenue and unmatched access to cloud infrastructure.
Taiwan Semiconductor (NYSE: TSM) – The Backbone of AI Chip Production
No AI model runs without advanced chips—and Taiwan Semiconductor (TSM) is where most of them get made. At ~$194, TSM controls roughly 67% of the global contract chip manufacturing market and posted a 42% year-over-year revenue gain in Q1 2025.
TSM produces chips for Apple, Nvidia, and Qualcomm, and even Intel now relies on them for leading-edge designs. With $40 billion in planned 2025 capex—including expanded capacity in the U.S.—the company is investing heavily to keep up with demand and reduce geopolitical risk.
Despite its dominance and 47% year-over-year income growth last quarter, the stock trades at just 25x earnings. For a company powering nearly every major AI breakthrough, that’s an attractive valuation.
Bottom Line:
These three companies aren’t betting on which AI app wins—they’re building the roads and bridges everyone needs to get there. That’s why we’re watching them closely.
