Apple’s US$1bn Google AI Bet Just Got Real: 3 ASX Stocks Set to Cash In

Apple (NASDAQ: AAPL) is paying Google (NASDAQ: GOOGL) around US$1 billion a year to power the next version of Siri with a custom Gemini AI model. The deal was signed in January 2026, and it gets real for investors this year, with the rebuilt Siri due to be unveiled at Apple’s developer conference in June 2026 and rolling out with iOS 27 from September 2026.

Apple is licensing Google’s huge 1.2 trillion-parameter model to power Siri, with the heavy lifting handled in the cloud rather than on the phone. That may sound like just another Big Tech story, but it has direct knock-on effects for several ASX-listed companies. We believe the deal points to three clear winners on the local infrastructure side, with one quality software name also worth keeping an eye on.

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NextDC (ASX: NXT) Looks Like the Biggest Local Winner

NextDC is Australia’s largest data centre operator, and the deal points to a wave of local server build-out. Running a model this big for billions of devices needs huge cloud capacity, and that means more demand for exactly the kind of space NextDC provides. The company is expanding fast, recently lifting its building budget again on the back of strong new customer wins. The catch is the price. The stock trades on a rich valuation, so a lot of the AI tailwind is arguably already baked in. In our view, NextDC is the cleanest play here, but new investors should be patient with entry points.

Macquarie Technology (ASX: MAQ) Offers a Cheaper Way In

Macquarie Technology is the smaller, more enterprise-focused alternative. It serves the government and big Australian corporates, and is building hard at its Macquarie Park campus in Sydney. It has just delivered its 22nd straight half of profit growth, with almost all revenue locked in under recurring contracts. MAQ trades at a clear discount to NextDC, which we think makes it a more attractive risk-reward for investors who want data centre exposure without paying top dollar. The trade-off is scale. MAQ is more reliant on single contract wins, so results can be lumpier.

Megaport (ASX: MP1) Is the Higher-Risk, Higher-Reward Option

Megaport connects different cloud platforms together, letting companies move data between Amazon, Microsoft Azure, Google Cloud and their own systems. The Apple-Google deal is exactly this kind of setup, just at consumer scale. Megaport’s latest half-year results back the turnaround story, with network revenue up 16% and a record number of new customers signed. Management is openly calling AI a “strong tailwind” and describes the business as the “picks and shovels” for AI. We see MP1 as the higher-risk, higher-reward play. Smaller and more volatile, but the AI thesis is starting to show up in the numbers.

TechnologyOne (ASX: TNE) Is the Quality Name to Watch

TechnologyOne is one of Australia’s highest-quality software companies, serving councils, universities and government agencies. With iOS 27 set to let Siri hand off tasks to AI agents like Gemini, everyday users will expect that same smart, automated help inside their work software too. Far from being left behind, TNE is leaning in hard, building AI into its products and lifting profit guidance on strong early demand, with recurring revenue up 17%. The one thing holding us back is the valuation. The stock is priced for success and has drifted lower over the past year, leaving little room for any stumble. We like the company, but we’d want a better entry point.

The Investor’s Takeaway

The simplest way to see this theme is infrastructure versus software. NXT, MAQ and MP1 all sit on the right side of the AI shift, with NXT offering the most exposure but the steepest price, MAQ the best value, and MP1 the most upside if things go well. TechnologyOne is a quality business we’d happily own at the right price. We’d watch the next round of results for signs that the AI demand is turning into real revenue.