Supply chains of the AI and semiconductor trade, tie by tie

The map as text

Materials

networking · 2

• Corning · GLW · United States
• Yangtze Optical Fibre and Cable (长飞光纤) · 601869.SH · China
  • Competitor → Corning: Optical fiber and data-center cable · not graded

power · 6

• Daiichi Kigenso Kagaku Kogyo · 4082 · Japan
  • Supplies material → Bloom Energy: Supplies materials (zirconia powder) · reported
• DKK's Chinese partner · private · China
  • Supplies material → Daiichi Kigenso Kagaku Kogyo: Scandium oxide · documented
• Hunan Oriental Scandium · private · China
  • Supplies material → Bloom Energy: Supplies materials (scandium oxide) · reported
• KV Materials · private · South Korea
  • Supplies material → Amosense: Electrolyte raw materials · reported
• Rio Tinto · RIO · Canada
  • Supplies material → Bloom Energy: Possible supplier of materials (scandium oxide) · hypothesis, not on record
• Sumitomo Metal Mining · 5713 · Japan
  • Supplies material → Bloom Energy: Possible supplier of materials (scandium oxide) · hypothesis, not on record

Fabrication

compute · 3

• TSMC · TSM · Taiwan
  • Manufactures for → NVIDIA: Manufactures for (advanced-node wafers and packaging) · documented
  • Manufactures for → AMD: Manufactures for (advanced-node wafers) · documented
  • Manufactures for → Broadcom: Manufactures for (advanced-node wafers) · documented
  • Manufactures for → Marvell Technology: Possible foundry supplier (wafers) · hypothesis, not on record
  • Manufactures for → Apple: advanced-node wafers for Apple silicon · hypothesis, not on record
  • Manufactures for → Tesla: FSD and AI chips · hypothesis, not on record
  • Manufactures for → Microsoft: Manufactures for (Maia 200 chips on 3nm) · documented
• Victory Giant Technology · 300476.SZ · China
  • Supplies components → NVIDIA: Supplies components (high-layer AI server boards) · inferred
• WUS Printed Circuit · 002463.SZ · China
  • Supplies components → NVIDIA: Supplies components (AI server and switch boards) · inferred

custom silicon · 1

• Tongfu Microelectronics · 002156.SZ · China
  • Manufactures for → AMD: Manufactures for (advanced packaging and test) · documented

Chips and components

compute · 2

• AMD · AMD · United States
  • Supplies components → OpenAI: Supplies components (Instinct GPUs, a 6 GW agreement) · documented
  • Supplies components → Meta Platforms: Supplies components (Instinct GPUs, up to 6 GW) · documented
  • Supplies components → Microsoft: Supplies components (GPUs for Azure) · documented
  • Supplies components → Tesla: AMD processors in vehicle infotainment · hypothesis, not on record
• NVIDIA · NVDA · United States
  • Supplies components → Hon Hai Precision: Supplies components (GPUs and rack designs for assembly) · inferred
  • Supplies components → Quanta Computer: Supplies components (GPUs and rack designs for assembly) · inferred
  • Supplies components → OpenAI: Supplies components (systems, a 10 GW letter of intent) · documented
  • Supplies components → Meta Platforms: Supplies components (H100 GPUs) · documented
  • Supplies components → Microsoft: Supplies components (GPUs for Azure) · documented
  • Supplies components → Amazon: Supplies components (GPUs, 2 million more in 2027-2028) · documented
  • Supplies components → Alphabet: Supplies components (GPUs for Google Cloud) · documented
  • Supplies components → Tesla: NVIDIA GPUs for training clusters · hypothesis, not on record

custom silicon · 1

• Broadcom · AVGO · United States
  • Supplies components → OpenAI: Supplies components (custom accelerators) · documented
  • Supplies components → Apple: Supplies components (radio-frequency parts) · documented
  • Supplies components → Alphabet: TPU custom silicon · hypothesis, not on record
  • Supplies components → Meta Platforms: MTIA custom silicon · hypothesis, not on record

memory · 1

• Micron Technology · MU · United States
  • Supplies components → Biwin Storage: Supplies components (memory wafers) · inferred
  • Supplies components → Longsys: Supplies components (memory wafers) · inferred

networking · 5

• Coherent · COHR · United States
  • Supplies components → Zhongji Innolight: Possible supplier to Innolight (laser and optical parts) · hypothesis, not on record
• Credo · CRDO · United States
  • Supplies components → CIG Shanghai: Possible second DSP source for CIG Shanghai · hypothesis, not on record
  • Supplies components → Amazon: active electrical cables for AI clusters · hypothesis, not on record
  • Supplies components → Meta Platforms: active electrical cables for AI clusters · hypothesis, not on record
• Lumentum · LITE · United States
  • Supplies components → Zhongji Innolight: Possible supplier to Innolight (lasers) · hypothesis, not on record
  • Supplies components → Eoptolink Technology: Possible supplier to Eoptolink (lasers) · hypothesis, not on record
• MACOM · MTSI · United States
  • Supplies components → Zhongji Innolight: Possible supplier to Innolight (amplifier and driver chips) · hypothesis, not on record
• Marvell Technology · MRVL · United States
  • Customer → Zhongji Innolight: Customer (buys DSP chips; vendor unnamed) · inferred
  • Customer → Eoptolink Technology: Customer (buys DSP chips; vendor unnamed) · inferred
  • Customer → Accelink Technologies: Customer (buys DSP chips; vendor unnamed) · inferred
  • Customer → HG Technology (华工正源): Customer (buys DSP chips; vendor unnamed) · inferred
  • Customer → CIG Shanghai: Customer (buys DSP chips; vendor unnamed) · inferred
  • Customer → Amazon: Customer (five-year multi-generational agreement) · documented
  • Customer → Microsoft: Possible customer (custom silicon) · hypothesis, not on record

power · 4

• Amosense · private · South Korea
  • Supplies components → Bloom Energy: Electrolyte substrates · reported
• Chaozhou Three-Circle · 300408.SZ · China
  • Supplies components → Bloom Energy: Manufactures components (ceramic separator sheets) · inferred
• Envicool · 002837.SZ · China
  • Competitor → Vertiv: Liquid-cooling distribution units and thermal management for AI data centers · not graded
• Megmeet · 002851.SZ · China
  • Supplies components → NVIDIA: Supplies components (AI server power) · documented

Modules and assembly

memory · 2

• Biwin Storage · 688525.SH · China
• Longsys · 301308.SZ · China

networking · 7

• Accelink Technologies · 002281.SZ · China
  • Competitor → Coherent: Competitor of Accelink (optical components) · inferred
• Applied Optoelectronics · AAOI · United States
• CIG Shanghai · 603083.SH · China
• Eoptolink Technology · 300502.SZ · China
  • Competitor → Applied Optoelectronics: 400G/800G transceivers for hyperscalers · not graded
• Fabrinet · FN · United States
• HG Technology (华工正源) · 000988.SZ · China
• Zhongji Innolight · 300308.SZ · China
  • Competitor → Coherent: Competitor of Innolight (datacom transceivers) · inferred
  • Competitor → Fabrinet: 800G/1.6T transceiver manufacturing for the same demand (contract manufacturing against in-house Thai plants) · not graded

systems · 3

• Hon Hai Precision · 2317.TW · Taiwan
• Quanta Computer · 2382.TW · Taiwan
  • Competitor → Dell Technologies: AI servers for enterprises and hyperscalers (branded versus ODM) · not graded
• Wiwynn · 6669.TW · Taiwan
  • Competitor → Super Micro Computer: AI servers and racks for the same hyperscalers · not graded

Systems and equipment

networking · 2

• Ciena · CIEN · United States
• ZTE · 000063.SZ · China
  • Competitor → Ciena: Coherent optical transport (800G ZR/ZR+, DCI) sold to the same carriers and hyperscalers · not graded

systems · 2

• Dell Technologies · DELL · United States
  • Supplies components → Microsoft: AI servers · hypothesis, not on record
• Super Micro Computer · SMCI · United States
  • Supplies components → Microsoft: AI servers · hypothesis, not on record

power · 3

• Bloom Energy · BE · United States
  • Customer → American Electric Power: Customer (fuel-cell procurement agreement) · documented
  • Partner → Oracle: Deployment partner (fuel cells at Oracle data centres) · documented
  • Customer → Equinix: Customer (fuel cells at Equinix data centres) · documented
  • Customer → Korea Southern Power: Downstream user (electrolyser project through SK ecoplant) · documented
  • Partner → SK ecoplant: Distribution partner (South Korea) · documented
  • Partner → SK eternix: Distribution partner (South Korea) · documented
  • Partner → Brookfield Asset Management: Financing partner (deployment framework) · documented
  • Partner → Baker Hughes: Collaboration partner (power and hydrogen) · documented
  • Competitor → FuelCell Energy: Competitor (stationary fuel cells) · inferred
• FuelCell Energy · FCEL · United States
• Vertiv · VRT · United States

Customers and operators

compute · 4

• Alphabet · GOOGL · United States
• Meta Platforms · META · United States
• OpenAI · private · United States
• Tesla · TSLA · United States

custom silicon · 1

• Amazon · AMZN · United States

systems · 1

• Microsoft · MSFT · United States
  • Partner → OpenAI: Partner (Azure capacity and investment) · documented

power · 8

• American Electric Power · AEP · United States
• Baker Hughes · BKR · United States
• Brookfield Asset Management · BAM · United States
• Equinix · EQIX · United States
• Korea Southern Power · private · South Korea
• Oracle · ORCL · United States
  • Customer → OpenAI: Downstream user (cloud capacity from Oracle) · documented
• SK ecoplant · private · South Korea
• SK eternix · private · South Korea

other · 1

• Apple · AAPL · United States

Gaps

• Gap upstream of Daiichi Kigenso Kagaku Kogyo: Where DKK's scandium for Bloom-bound powder comes from, beyond the 2023 purchase
• Gap upstream of Chaozhou Three-Circle: Who supplies the powder and scandium in the separator sheets
• Gap upstream of KV Materials: Where the scandium KV Materials buys comes from
• Gap upstream of Zhongji Innolight: Who makes the DSP chips in Innolight's optical modules
• Gap upstream of Eoptolink Technology: Who makes the DSP chips in Eoptolink's optical modules
• Gap upstream of Accelink Technologies: Who makes the DSP chips Accelink buys in
• Gap upstream of HG Technology (华工正源): Who makes the overseas high-end DSP chips in HG Technology's modules
• Gap upstream of CIG Shanghai: Who makes CIG Shanghai's DSP chips
• Gap upstream of Zhongji Innolight: Who supplies the lasers and optical chips in Innolight's modules
• Gap upstream of Eoptolink Technology: Who supplies the lasers in Eoptolink's modules