AI Investing Glossary
What is a foundation model?
A foundation model is a large AI system trained on broad data that other software builds on, the way applications build on an operating system. Training one takes vast compute, data, and specialized talent, so only a small group of companies train frontier foundation models; everyone else licenses or fine-tunes them.
Why it matters for AI investors
The distinction between training your own model and renting someone else's separates owning the technology from using it, which is why Supercycle's Foundation Models category only includes companies that train their own. Public-market exposure to frontier labs is partial at best, since several leaders remain private.
Tracked stocks in this layer
The largest names in the Foundation Models category, ranked by market cap:
Market data as of the close on . Prices are end of day, not live.
Frequently asked questions
Can I invest in the top AI labs directly?
Mostly not through public markets: several leading labs are private. Public exposure comes via listed companies that train their own models, hold stakes in labs, or supply them with compute and infrastructure. Each route carries different economics, and stock pages here note where the exposure actually comes from.
Related terms
See how this fits the whole picture in the Start Here guide, or browse the full glossary.