NVIDIA may be the first name investors associate with artificial intelligence, but AI needs more than processors. It also needs memory, cloud software, data centers and the electricity to run them. As earnings season unfolds, the question is becoming more specific: What can the latest earnings reveal about AI’s impact across the companies building and supporting it?
These six companies offer a view across that wider AI supply chain.
NVIDIA: The demand for computing power
NVIDIA supplies processors used to train and run AI models. Its latest reported quarterly data-center revenue reached $89 billion, more than double the year-earlier figure. The next results will test whether demand and margins can keep pace with the high expectations surrounding the company.
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Microsoft: Making AI useful to customers
Microsoft brings AI to its Azure cloud platform and software products. Azure and other cloud-services revenue grew 43% year on year in its latest reported quarter. Investors will be watching whether that growth continues to justify the substantial cost of building AI infrastructure.
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ASML: The machines behind advanced chips
Chipmakers depend on ASML’s equipment to produce advanced semiconductors. On 14 October 2026, the Dutch company reported €11.7 billion in Q3 sales and said customers were increasing their equipment-demand forecasts, largely because of expected AI investment. Orders and production capacity are key figures to follow, though customer plans can change.
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Micron: The memory AI needs
AI processors need fast access to large amounts of data, bringing memory maker Micron into the picture. The company reported record fiscal fourth-quarter results in September. Its opportunity is tied to demand for advanced memory, while changes in supply and memory prices remain important risks.
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Schneider Electric: Power inside the data center
Data centers need systems that distribute and manage electricity. France’s Schneider Electric supplies technology in this area and reported sustained high demand from data centers in the first half of 2026. Its upcoming results can offer another indication of how quickly that demand is becoming revenue.
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Siemens Energy: The grid beyond the data center
More computing capacity also places demand on the wider power system. Germany’s Siemens Energy supplies power-generation and grid equipment. Its orders and project margins can help investors assess this less direct part of the AI story; large infrastructure projects can also face delays and rising costs.
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