In this work, we design and simulate novel 32 nm carbon nanotube field effect transistor (CNTFET) as well as complementary metal oxide semiconductor (CMOS)‐based negative class AB second generation current conveyors (CC) (CNTFET‐CCII and CMOS‐CCII−). The comparative analyses of various performance measuring parameters of both these CCII's have been performed. A significant improvement in current and voltage bandwidths, terminal X and Y impedances at lesser total harmonic distortions and reduced power consumption have been observed in the proposed CNTFET‐based CCII− in comparison to its CMOS‐based counterpart. Further, a CNTFET‐based active grounded inductor (AGI) has been designed and simulated for the first time using the proposed CNTFET‐CCII− and our recently designed CNTFET‐CCII+ and has been compared with the CMOS‐based AGI. To validate the performance of the simulated AGI's, single input multi output current mode filter and third‐order high pass Butterworth filter have also been designed and simulated. The simulation results reveal that the performance of the CNTFET‐AGI‐based applications are close to ideal response with less power consumption and temperature insensitivity with reduced active chip die area of 0.16 μm2 and can be efficiently used for low voltage, low power, and high frequency applications.