Artificial intelligence (AI) stocks are still worth buying right now, but only under the right conditions. Investors should want real revenue, real customers, and a clear path from AI excitement to actual profits. That matters more now more than ever as some AI names still trade on hope, while others already sell the hardware, software, and workflow tools businesses need today. So today, let’s look at AI stocks with real demand instead of vague promises.
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CLS
Celestica (TSX:CLS) looks like the most obvious no-brainer of the group because it sits right in the middle of the AI infrastructure buildout. It makes advanced electronics and hardware systems, and demand has surged as hyper-scalers and data-centre customers spend heavily on AI networking and compute gear. Over the last year, that story only got stronger. Celestica recently announced a collaboration with AMD on its Helios rack-scale AI platform, and management has kept pointing to strong momentum in AI-related data-centre technologies.
The numbers back it up. In the fourth quarter of 2025, revenue jumped 44% year over year to US$3.7 billion, while adjusted earnings per share (EPS) climbed to US$1.89 from US$1.11. For full-year 2025, revenue rose 28% to US$12.4 billion, and management raised its 2026 outlook to US$17 billion in revenue and adjusted EPS of US$8.75 as AI demand strengthened. The AI stock has already had a huge run, so risk remains if AI spending cools or customers pause orders. Even so, Celestica still looks like one of the clearest TSX ways to invest in the hardware side of AI.
DSG
Descartes Systems (TSX:DSG) is a different kind of AI play, and that is part of the appeal. The AI stock provides logistics and supply-chain software that helps businesses move goods, manage trade compliance, and improve freight visibility. Over the last year, the AI stock has leaned harder into AI tools across its global logistics network, including AI-driven trade intelligence and AI agents for freight visibility. That makes it a practical AI stock, not a speculative one.
Its latest results were exactly what investors want to see from a steady compounder. For fiscal 2026, revenue rose 16% to US$731.3 million, net income increased 14% to US$163.8 million, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached US$329.5 million with a 45% margin. Fourth-quarter revenue rose 15% to US$192.8 million. The risk is valuation. Descartes trades at about 38 times earnings, so this is not a cheap stock. Still, when a company keeps growing, keeps throwing off cash, and keeps adding AI features customers can actually use, paying a premium can make sense.
KXS
Kinaxis (TSX:KXS) rounds out the list as a more software-driven AI pick. The AI stock helps large businesses plan and run complex supply chains, and its Maestro platform has become the centrepiece of its AI push. Over the last year, Kinaxis launched Maestro Agents, introduced Maestro Agent Studio, and announced NVIDIA-backed advances that it says can deliver up to 12 times faster planning performance in large-scale models. That gives the AI stock a fresh catalyst beyond the usual “AI is coming” pitch.
The latest earnings also helped the case. Kinaxis reported record fourth-quarter 2025 revenue of US$144.2 million, with Software as a Service (SaaS) revenue up 19%, while full-year revenue reached US$510.1 million, up 13%. It also guided for 2026 revenue of US$620 million to US$635 million and SaaS growth of 17% to 19%. The AI stock is not exactly cheap, with a forward price-to-earnings (P/E) around 23 at writing, and execution still matters as competition in enterprise AI grows. But if investors want an AI stock on the TSX with actual software depth and room to expand, Kinaxis still looks compelling after its pullback.
Bottom line
If I had to buy three TSX AI stocks right now, these would be the ones. Celestica offers the strongest pure infrastructure angle, Descartes brings reliable software growth, and Kinaxis gives investors a more targeted enterprise AI bet. None are risk-free, and none should be bought just because “AI” is in the story. But when AI demand meets real earnings, that is usually where the smartest buying starts.
