Artificial intelligence is no longer just a futuristic concept — it’s here, and it’s reshaping the way businesses operate.
According to investment bank Wedbush, Palantir Technologies Inc (NYSE:PLTR) and Salesforce Inc (NYSE:CRM, ETR:FOO) are the standout software companies leading the AI revolution in 2025, with a host of other tech players poised to benefit.
AI spending on the rise
Wedbush has been tracking AI adoption across industries and found that AI spending now accounts for around 10% of IT budgets, with some companies allocating up to 15% as they move from planning to execution.
Over the next three years, an estimated $2 trillion will be spent on AI infrastructure, driving what the firm calls a “generational tech spending wave.”
Most AI investments have initially focused on Nvidia’s powerful chips and cloud computing platforms like Microsoft, Amazon, and Google.
However, the real opportunity lies in software. Wedbush estimates that for every $1 spent on Nvidia hardware, an additional $8 to $10 is spent across the broader tech ecosystem. This multiplier effect is now fuelling rapid growth in AI-driven software solutions.
AI’s biggest software winners
Wedbush highlights Palantir and Salesforce as the top two software companies best positioned to capitalise on the AI boom in 2025.
Palantir: The future of enterprise AI?
Palantir has built a strong reputation in data analytics and AI-driven decision-making, and its Artificial Intelligence Platform (AIP) is gaining significant traction.
Wedbush notes that demand for Palantir’s enterprise-scale AI solutions is soaring, particularly in the US commercial sector, which is expected to drive growth over the next 12 to 18 months.
Palantir’s strength lies in its ability to handle massive amounts of data and apply AI to solve complex business problems.
Wedbush even suggests that the company could evolve into “the next Oracle” over the next decade, a bold comparison given Oracle’s dominance in enterprise software.
Salesforce: AI-powered customer relationships
Salesforce, best known for its customer relationship management (CRM) software, is also a major AI player. The company has been aggressively integrating generative AI into its products, helping businesses automate tasks, predict customer behaviour, and improve engagement. Wedbush sees Salesforce’s AI-driven capabilities as a game-changer in enterprise software.
Players gaining momentum
While Palantir and Salesforce are the headline winners, Wedbush points to several other software companies making strong moves in AI. These include:
- Oracle and IBM, both investing heavily in AI-driven cloud and enterprise software solutions.
- Innodata, Snowflake, and MongoDB, focusing on AI-enhanced data management and analytics.
- Elastic and Pegasystems, leveraging AI to improve search, automation, and workflow optimisation.
AI Adoption Across Industries
- Wedbush’s research reveals that AI is being adopted across a wide range of industries, including:
- Financial services – Automating fraud detection and risk management.
- Healthcare – AI-powered diagnostics and personalised treatment plans.
- Transportation and logistics – Optimising supply chains and autonomous vehicle technology.
- Manufacturing – AI-driven automation and predictive maintenance.
Last year, many companies were still in the planning phase, but now, AI initiatives are moving full speed ahead. Around 70% of businesses surveyed by Wedbush have increased their AI budgets over the past six months, reflecting the urgency to adopt this technology.
With AI becoming an essential part of business operations, the competition among software providers is heating up. Palantir and Salesforce may be the frontrunners, but as Wedbush notes, the AI revolution is just getting started.