10 Emerging AI Stocks Investors Are Watching in October 2026, From Micron's Memory Boom to SpaceX and Firmus

NEW YORK — The artificial intelligence boom keeps reshaping financial markets. Investors are now looking past the biggest technology names for companies that could benefit from the next phase of AI spending, including memory chips, power systems, data centers, cloud networking and AI services.

The following 10 stocks are drawing attention in October based on recent earnings, deals and market moves. They are listed in no particular order. This article is for informational purposes only and is not investment advice. Investors should do their own research and consider consulting a licensed financial adviser before making decisions.

1. Micron Technology (MU)

Micron has become one of the clearest winners of the AI build-out. The memory chipmaker reported fiscal fourth-quarter revenue of $54.23 billion, nearly four times its level a year earlier, and forecast first-quarter revenue of about $61.5 billion, far above analysts' expectations.

The company said demand for high-bandwidth memory, a key component in AI servers, remains extremely strong, with most of its 2027 supply already committed. Its results lifted chip stocks around the world this week.

2. SK Hynix (000660.KS)

The South Korean chipmaker is one of the world's leading suppliers of high-bandwidth memory used in AI accelerators. Its shares rebounded this week alongside Samsung Electronics after Micron's strong report revived optimism about memory demand, helping push South Korea's KOSPI index up nearly 2%.

3. CXMT (688825.SH)

China's largest maker of memory chips debuted on Shanghai's STAR Market in July in Asia's biggest initial public offering of the year, and its shares soared nearly 466% on the first day. The company recently said its fifth-generation manufacturing platform had entered mass production, and it reportedly plans a $5.2 billion expansion.

Access is limited for many international investors, however, and the U.S. Defense Department added the company to a list of Chinese military-linked firms in June.

4. SpaceX (SPCX)

Elon Musk's aerospace company went public in June at $135 a share and briefly hit a record of $225.64. SpaceX has promoted data centers in space as the next frontier for AI infrastructure. This week it was set to launch a satellite carrying Google's AI chips into orbit as part of an effort to test computing in space.

The shares were trading around $151 earlier this week, well below their peak, which highlights the volatility of high-profile new listings.

5. Firmus (upcoming ASX listing)

Nvidia-backed data center operator Firmus is preparing one of the largest IPOs in Australian history. The company is seeking a valuation of about A$43.7 billion, with shares priced at A$11 and a debut on the Australian Securities Exchange targeted for Oct. 23.

Firmus has secured commitments from investors including Jane Street, Blackstone and Nvidia. Its listing will test investor appetite for AI infrastructure outside the United States.

6. Hewlett Packard Enterprise (HPE)

HPE shares hit a record high this week as demand for its AI servers and networking equipment outpaced supply. The company has positioned itself as a key supplier of the systems businesses need to run AI workloads in data centers.

7. Vicor (VICR)

Shares of the power component maker jumped about 12% on Thursday after it raised its third-quarter revenue forecast. Vicor makes power modules used in high-performance computing, a market that has grown as AI processors require more efficient power delivery.

8. Data#3 (ASX: DTL)

The Australian IT services company has rallied to record highs after forecasting first-half pre-tax profit growth of more than 40%, well above analysts' expectations. It pointed to large one-off transactions and strong infrastructure and software activity, which have been helped by corporate spending on cloud and AI.

The stock surged nearly 14% on Thursday and extended gains on Friday.

9. Megaport (ASX: MP1)

The Australian cloud networking company's shares have climbed about 90% this year. Megaport provides on-demand connections between data centers and cloud platforms, a service that has seen higher demand as companies move AI workloads across networks. It has landed new contract wins in recent weeks.

10. Accenture (ACN)

The world's largest consulting firm jumped more than 20% this week after its quarterly results and outlook beat expectations, easing fears that AI would undercut demand for IT services. Accenture reported $22.2 billion in new bookings, including record large client deals, as companies hire outside help to adopt AI.

Its results also lifted rivals such as Cognizant Technology Solutions.

One to watch: Anthropic

AI developer Anthropic is reportedly preparing to go public as soon as mid-November, with prospective investors valuing it at up to $2 trillion, according to Bloomberg. A listing could become one of the largest IPOs on record and a major test of investor demand for AI.

Risks to consider

AI stocks have delivered big gains, but they carry significant risks. Many trade at high valuations based on expectations of strong future growth, which can lead to sharp declines if results disappoint.

Rising interest rates add pressure. U.S. 10-year Treasury yields hit their highest level since 2002 this week, which can weigh on growth stocks. Geopolitical tensions, including the war with Iran and U.S.-China trade restrictions, could also disrupt supply chains and markets.

Newly listed companies can be especially volatile, and some international stocks may be difficult or costly for individual investors to buy.

The AI boom is spreading beyond the largest technology companies into memory chips, power systems, data centers and IT services. Diversification, careful research and a long-term view remain important for investors considering the sector.