Which Big Tech Stocks Are Best Positioned for 10x Growth in the AI and Cloud Era?

The AI and cloud computing revolution is reshaping the global economy, creating unprecedented opportunities for companies that can scale infrastructure, optimize algorithms, and deliver enterprise solutions. As of November 2025, four stocks-Applied Digital (APLD), Nvidia (NVDA), Amazon (AMZN), and Palantir (PLTR)-stand out for their strategic positioning in this high-growth landscape. By analyzing their financial performance, market capitalizations, and partnership pipelines, we can identify which of these companies are best poised to deliver 10x returns in the coming years.

Nvidia (NVDA): The Unstoppable Engine of AI Hardware

Nvidia remains the linchpin of the AI infrastructure boom. In Q3 2025, the company reported $57.0 billion in revenue, a 62% year-over-year increase, with its Data Center segment alone generating $51.2 billion, up 66% YoY. This dominance is driven by insatiable demand for its GPUs, which power everything from generative AI models to autonomous systems.

Nvidia's strategic partnerships further cement its leadership. The company has deepened ties with OpenAI, Google Cloud, and Microsoft, while its collaboration with Amazon on Project Ceiba-a 16,384-GH200-superchip AI supercomputer-positions it to lead in large-scale model training. Additionally, a $100 billion partnership with Brookfield Asset Management to build AI infrastructure ecosystems underscores its long-term vision.

Financially, Nvidia's valuation reflects its market dominance. As of December 2025, its market capitalization exceeded $4.5 trillion, despite a compressed price-to-sales multiple of 18x. With a 73.6% non-GAAP gross margin and $38.5 billion in cash, the company is well-positioned to sustain growth while returning capital to shareholders.

Amazon (AMZN): Cloud Infrastructure's New Frontier

Amazon's AWS division continues to outpace competitors, securing a 29% global cloud market share and generating $33.0 billion in Q3 2025 revenue, a 20% YoY increase. The company's AI ambitions are equally bold: it announced NVIDIA GH200 Grace Hopper Superchips on AWS, along with custom silicon like Trainium2, which reduces AI training costs by 40%.

A pivotal partnership with OpenAI-a $38 billion multiyear deal-ensures AWS remains the go-to platform for AI model deployment. Meanwhile, its collaboration with NVIDIA on Project Ceiba and DGX Cloud AI-training-as-a-service highlights its dual focus on hardware and cloud scalability.

Amazon's market capitalization, at $2.4–2.5 trillion in November 2025, reflects its dual dominance in e-commerce and cloud computing. While its valuation is high, its ability to monetize AI infrastructure through both hardware and software gives it a unique edge.

Palantir (PLTR): Enterprise AI's Hidden Powerhouse

Palantir's Q3 2025 revenue surged to $1.2 billion, a 63% YoY increase, driven by demand for its Ontology platform in government and commercial sectors. The company's market capitalization, at $446.98 billion as of December 2025, reflects investor confidence in its AI-driven data intelligence solutions.

Palantir's partnership with NVIDIA is a game-changer. By integrating NVIDIA's CUDA-X libraries and Nemotron models into its AI Platform (AIP), Palantir is enabling context-aware AI agents for enterprises, including supply chain logistics (e.g., Lowe's). Its Chain Reaction initiative, with founding partners like NVIDIA and CenterPoint Energy, aims to build a U.S.-centric AI infrastructure ecosystem.

With full-year revenue guidance raised and a projected 61% Q4 growth, Palantir is capitalizing on the shift toward enterprise AI. Its valuation, while high (33x forward revenue), is justified by its sticky enterprise contracts and expanding use cases.

Applied Digital (APLD): The Undervalued AI Infrastructure Play

Applied Digital's transformation from a Bitcoin mining operator to an AI/HPC infrastructure provider is gaining traction. In Q3 2025, the company reported $52.9 million in revenue, a 22% YoY increase, and secured a $375 million financing with Sumitomo Mitsui Banking Corporation to develop its Ellendale HPC Campus.

APLD's strategic partnerships are equally compelling. It has signed a $5 billion, 15-year lease with a U.S. hyperscaler for its North Dakota campus and expanded its 400 MW contract with CoreWeave to $11 billion in revenue. A $2.35 billion note offering further supports its AI infrastructure expansion.

Despite these strides, APLD's market capitalization remains relatively modest at $9 billion as of late November 2025. This valuation disconnect creates a compelling opportunity, as the company's hyperscaler contracts and long-term power agreements position it to benefit from the AI infrastructure boom.

Conclusion: The 10x Candidates

While all four companies are well-positioned in the AI/cloud era, Nvidia and Palantir stand out as the most compelling 10x candidates. Nvidia's hardware dominance, margin resilience, and strategic partnerships ensure it will remain the backbone of AI innovation. Palantir's enterprise AI solutions and U.S. infrastructure initiatives align with regulatory and geopolitical trends favoring domestic AI ecosystems.

Amazon and Applied Digital also offer strong growth potential, but their valuations are more stretched (Amazon) or underappreciated (APLD). Investors seeking long-term exposure to AI infrastructure should prioritize companies with both technical moats and scalable business models-Nvidia and Palantir fit this profile most cleanly.