In a digital-first world, technological advancements in businesses are no longer just good-to-have, but a must.

From Artificial Intelligence (AI) infrastructure to e-commerce, innovation is driving the next wave of successful business models.

Against this backdrop, a select group of US companies has emerged as frontrunners of this wave, demonstrating rising profits and highly-scalable business models.

If you aim to catch this wave, here are five US growth stocks worth keeping a close eye on.

Uber (NYSE: UBER)

Uber has proven itself as a resilient incumbent in the industry despite the extremely competitive rideshare landscape. 

One of the main reasons for this can be attributed to its strategic partnerships.

Uber recently announced its collaboration with Nvidia (NASDAQ: NVDA) to develop more sophisticated AI models for its autonomous-driving technology while expanding its operational efficiency.

In the first quarter of 2025 (1Q 2025), Uber’s revenue rose 14% year-on-year (YoY) to US$11.5 billion. 

This is underpinned by a year-on-year rise in revenue of 15% and 18% for its mobility and delivery segments, respectively. 

Uber also showed a 35% year-on-year surge in its adjusted Earnings Before Interest Tax Depreciation and Amortisation (EBITDA). 

Uber’s adjusted EBITDA performance exhibits strong and healthy earnings performance by Uber. 

It also shows its relevance as a platform in the travel and at-home consumption space.

In 2Q 2025, Uber’s gross bookings are set to grow about 16% to 20% YoY and its adjusted EBITDA by 29% to 35% YoY.

Micron (NASDAQ: MU)

With AI continuing to be the talk of the town, Micron is making strides in solidifying its position in the AI-driven semiconductor chip industry.

For 2Q FY2025, Micron’s revenue from its High Bandwidth Memory chips grew more than 50% quarter-on-quarter and its data centre Dynamic Random Access Memory (DRAM) chip revenue reached a record high.

Micron also has a monopoly, being the sole supplier of low-powered DRAM chips into data centres in large quantities.

Micron’s newly developed 1-gamma DRAM has also achieved 20% lower power, 15% better performance and over 30% in bit-density as compared to its 1-beta DRAM.

This development places Micron in a strategic position to capture the growing demand for memory chips and data centres.

In 2Q FY2025, Micron reported a revenue of US$8.05 billion, a 38% YoY increase and a more than two-fold increase in audited net income of US$1.58 billion from US$0.79 billion in 2Q FY2024.

For 3Q FY2025, its revenue is projected to be between US$8.6 billion to US$9 billion.

Advanced Micro Devices (NASDAQ: AMD)

Another big player in the AI semiconductor industry is AMD.

Unlike Micron, AMD produces processing units and graphic cards for AI and gaming applications.

For 1Q 2025, AMD announced solid earnings as revenue increased by 36% YoY, along with an increase in net profit of 476% YoY to US$709 million.

For 2Q 2025, AMD projected revenue of between US$7.1 billion to US$7.7 billion.

The company’s management also announced a US$6 billion share repurchase programme, demonstrating strong confidence in AMD’s growth and ability to generate consistent strong free cash flow. 

Amazon (NASDAQ: AMZN)

With the recent frenzy regarding the US tariffs, it may be surprising to see Amazon, an e-commerce giant, on this list.

However, in 1Q 2025 the company announced a strong performance with net sales increasing by almost 9% YoY to US$155.7 billion.

Its net profit also increased from US$10.4 billion in the first quarter in 2024 to US$17.1 billion in 1Q 2025.

One of the largest contributors was Amazon Web Services (AWS).

The cloud service division’s revenue saw an increase of 17% YoY to US$29.3 billion as it is less susceptible to tariff threats.

Amazon is also leveraging AI by partnering with HUMAIN with a US$5 billion investment to develop an innovation hub for AWS AI infrastructure in Saudi Arabia. 

Adobe (NASDAQ: ADBE)

Adobe’s Creative Cloud and its applications is one of the most recognised tools in the creative industry, from Photoshop to InDesign.

Adobe is also improving its AI products such as Adobe Experience Platform Agent Orchestrator which is used to manage AI agents and create more personalised creative content.

For 1Q FY2025 ending 28 February 2025, Adobe had a record revenue of US$5.7 billion, a 10% YoY increase.

Its net income also increased from US$620 million in 1Q FY2024 to US$1.8 billion in 1Q FY2025.

The best performing segment was that of Digital Media, with a revenue of US$4.2 billion, representing an 11% YoY growth.

Adobe projected that its 2Q FY2025 revenue will be between US$23.3 billion to US$23.55 billion.

As AI and digital innovation continue to redefine the rules of competition, these five companies stand out not just for embracing change — but for turning trends into sustainable growth.

These five US growth stocks are not only adapting to the new digitalised economy; they are helping to shape it. 

For investors seeking scalable, future-ready businesses, now is the time to take notice. 

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Disclosure: Gabriel Lim does not own shares of Uber, Micron, Advanced Micro Devices, Amazon and Adobe.