Money Raw materials Wafers & chemicals Tools, EDA & IP Fabs, memory & packaging Chip designers Systems, network & power Clouds & neoclouds AI labs China aivres flag megaspeed · reported aivres flag speedmatrix · $4B · reported alphabet supplies anthropic · announced alphabet supplies openai · reported alphabet supplies ssi · announced amd licenses hygon · $293M · reported amd supplies openai · announced amkor supplies qualcomm · reported amkor supplies tsmc · announced anthropic flag deepseek · reported anthropic flag minimax · reported anthropic flag moonshot · reported applied-materials flag amec · reported applied-materials supplies tsmc · reported arm flag qualcomm · reported arm licenses nvidia · reported asml supplies intel · reported asml supplies samsung · reported asml supplies smic · reported asml supplies tsmc · reported bhp supplies blackrock · $2B · announced cambricon supplies huawei · reported cisco flag arista · $400M · announced coreweave supplies anthropic · announced foxconn supplies nvidia · reported globalfoundries supplies hygon · reported globalwafers supplies micron · announced groq licenses nvidia · $20B · announced ibiden supplies intel · reported lam-research flag amec · reported lam-research supplies samsung · filed lam-research supplies tsmc · filed microsoft supplies anthropic · $30B · announced mistral supplies microsoft · announced naura supplies ymtc · reported nvidia flag megaspeed · $4.8B · reported nvidia supplies microsoft · announced nvidia supplies nebius · announced openai flag bytedance · reported oracle flag tencent · $7B · reported oracle supplies openai · $40B · reported quanta supplies dell · reported samsung supplies groq · announced sb-energy supplies openai · announced shanghai-century-litong supplies alibaba · reported shanghai-century-litong supplies tencent · reported sk-hynix supplies nvidia · reported smic supplies huawei · reported speedmatrix flag shanghai-century-litong · reported tsmc supplies amd · reported tsmc supplies biren · reported tsmc supplies broadcom · reported tsmc supplies nvidia · reported ymtc flag micron · reported zeiss supplies asml · reported alibaba invests cambricon · reported alibaba invests minimax · $600M · reported alibaba invests moonshot · $800M · reported alibaba invests zhipu · reported alphabet invests anthropic · $3B · announced amazon invests anthropic · announced amazon invests openai · $50B · announced apollo invests nvidia-compute-financing-platforms · mou arista buys broadcom · reported asml invests mistral · reported asml invests zeiss · reported blackrock invests groq · $640M · announced blackrock invests nvidia-compute-financing-platforms · mou blackstone invests magnetar · reported blackstone invests nvidia-compute-financing-platforms · mou brookfield invests nvidia-compute-financing-platforms · mou coreweave buys nvidia · reported corning owns hemlock · announced deepseek buys nvidia · reported dell invests nscale · $1.1B · reported goldman-sachs invests nvidia-compute-financing-platforms · mou goldman-sachs invests siltronic · reported intel invests asml · $4.1B · reported kkr invests nvidia-compute-financing-platforms · mou lambda buys nvidia · $917M · reported magnetar invests coreweave · $50M · reported megaspeed buys aivres · reported megaspeed buys nvidia · $4.8B · reported megaspeed owns speedmatrix · reported meta buys coreweave · $21B · reported microsoft buys nscale · announced microsoft invests anthropic · reported microsoft invests inspur · $20M · announced microsoft invests mistral · $16M · announced microsoft invests openai · $13B · reported mubadala invests amd · $314M · announced nokia invests nscale · $1.1B · reported nvidia finances-via-spv nvidia-compute-financing-platforms · mou nvidia guarantees coreweave · $6.3B · filed nvidia guarantees openai · $105B · filed nvidia invests anthropic · $10B · announced nvidia invests coreweave · $2B · announced nvidia invests crusoe · reported nvidia invests intel · $5B · announced nvidia invests lambda · reported nvidia invests lumentum · $2B · announced nvidia invests nebius · $2B · announced nvidia invests nscale · reported nvidia invests openai · $30B · announced nvidia invests ssi · $5B · reported nvidia invests xai-colossus-spv · $2B · reported nvidia leases-back lambda · $1.5B · reported openai buys cerebras · $10B · announced openai buys coreweave · $22.4B · announced openai buys microsoft · $250B · announced openai buys oracle · $300B · announced openai invests stargate · $19B · reported oracle buys nvidia · $40B · reported qia invests anthropic · announced qia invests glencore · reported samsung invests asml · reported samsung invests mistral · reported schneider-electric buys vertiv · $1.25B · announced sk-hynix buys intel · $9B · reported softbank invests intel · reported softbank invests openai · $30B · announced softbank invests stargate · $19B · reported softbank owns arm · announced spacex invests xai · $2B · reported spacex owns xai · announced tencent invests minimax · reported tencent invests moonshot · reported tencent invests zhipu · reported tsmc invests asml · reported wacker invests siltronic · reported xai-colossus-spv buys nvidia · reported xai-colossus-spv finances-via-spv xai · $20B · reported $600M $800M $3B $50B $640M $1.1B $4.1B $917M $50M $4.8B $21B $20M $16M $13B $314M $1.1B $6.3B $105B $10B $2B $5B $2B $2B $30B $5B $2B $1.5B $10B $22.4B $250B $300B $19B $40B $1.25B $9B $30B $19B $2B $20B ≈$260B exposure: stakes, commitments, guarantees (as of Jul 2026; Jon Peddie Research) ≈$260B exposure: stakes, commitments, guarantees 2031 bonds yield ~15–16%, CDS ~1,000bp (as of Oct 2026; InsiderFinance) 2031 bonds yield ~15–16%, CDS ~1,000bp $4.8B of NVIDIA gear; DOJ and Singapore probes (as of Nov 2026; CBS News) $4.8B of NVIDIA gear; DOJ and Singapore probes $300B Oracle deal over five years (as of Sep 2025; Clouds Press) $300B Oracle deal over five years → (ties to come) → (ties to come) → (ties to come) → ASML → Intel, Samsung Electronics SMIC, TSMC → NVIDIA → AMD, Biren Technology Broadcom, NVIDIA → (ties to come) Stargate Stargate private Planned spending by 2029 $500… SpaceX SpaceX SPCX Also: AI labs T7 Brookfield Brookfield BN Goldman Sachs Goldman Sac… GS Apollo Global Management Apollo Glob… APO BlackRock BlackRock BLK KKR KKR KKR Compute-financing platf… Compute-fin… private Blackstone Blackstone BX GIC GIC private MGX MGX private Target assets under managemen… Needs review review Mubadala Mubadala private Magnetar Capital Magnetar Ca… private Assets under management $18.6… Qatar Investment Author… Qatar Inves… private SoftBank Group SoftBank Gr… 9984.T xAI Colossus SPV xAI Colossu… private BHP BHP private Glencore Glencore private Share of internationally trad… Hemlock Semiconductor Hemlock Sem… private Wacker Chemie Wacker Chem… private Air Liquide Air Liquide private Air Products Air Products APD Freeport-McMoRan Freeport-Mc… private Linde Linde private Needs review review Lynas Rare Earths Lynas Rare… private Needs review review MP Materials MP Materials MP Pentagon preferred stock purc… Rio Tinto Rio Tinto private Sibelco Sibelco private The Quartz Corp The Quartz… private Tokuyama Tokuyama private Umicore Umicore private Siltronic Siltronic private Ibiden Ibiden 4062.T Ajinomoto Ajinomoto 2802.T Entegris Entegris ENTG GlobalWafers GlobalWafers private Resonac Resonac private Shin-Etsu Chemical Shin-Etsu C… 4063.T SK Siltron SK Siltron private Needs review review SUMCO SUMCO private Silicon wafer market share 30… Sumitomo Chemical Sumitomo Ch… private Tokyo Ohka Kogyo Tokyo Ohka… private Needs review review Unimicron Unimicron private Needs review review Advantest Advantest private ASM International ASM Interna… private BESI BESI BESI Die attach market share 42% ·… Cadence Design Systems Cadence Des… private Arm Arm ARM Under investigation, in a lawsuit, or tied to an alleged diversion flag Carl Zeiss SMT Carl Zeiss… private Cymer Cymer private Needs review review Disco Disco private ASML ASML ASML KLA KLA private Screen Holdings Screen Hold… private Siemens EDA Siemens EDA private Synopsys Synopsys SNPS Revenue from the United State… Teradyne Teradyne private Lam Research Lam Research LRCX Under investigation, in a lawsuit, or tied to an alleged diversion flag Tokyo Electron Tokyo Elect… 8035.T Trumpf Trumpf private Applied Materials Applied Mat… AMAT Under investigation, in a lawsuit, or tied to an alleged diversion flag ASE Technology ASE Technol… private Needs review review Amkor Technology Amkor Techn… private Sales $7.1B · 2022 SK hynix SK hynix 000660.KS Samsung Electronics Samsung Ele… 005930.KS TSMC TSMC TSM Micron Tech… Micron Tech… MU Planned US investment through… Needs review review Under investigation, in a lawsuit, or tied to an alleged diversion flag GlobalFoundries GlobalFound… private Groq Groq private Valuation after series D $2.8… Also: Clouds & neoclouds T6 Intel Intel INTC Also: Fabs, memory & packaging T3 Broadcom Broadcom AVGO Qualcomm Qualcomm private Under investigation, in a lawsuit, or tied to an alleged diversion flag Cerebras Cerebras CBRS Market value at Nasdaq openin… Also: Clouds & neoclouds T6 NVIDIA NVIDIA NVDA Revenue $96.2B · Jul 2026 Under investigation, in a lawsuit, or tied to an alleged diversion flag Also: Money $ AMD AMD AMD Marvell Technology Marvell Tec… MRVL Revenue $8.2B · 2026 Cisco Cisco CSCO Revenue $63.3B · 2026 Under investigation, in a lawsuit, or tied to an alleged diversion flag Corning Corning GLW Sales $14.1B · 2021 Coherent Coherent COHR Employees 26,622 employees ·… Arista Networks Arista Netw… ANET Under investigation, in a lawsuit, or tied to an alleged diversion flag Constellation Energy Constellati… private SB Energy SB Energy private Credo Technology Credo Techn… private Needs review review Eaton Eaton private Aivres Aivres private Under investigation, in a lawsuit, or tied to an alleged diversion flag Foxconn Foxconn 2317.TW Lumentum Lumentum LITE Nvidia strategic investment i… GE Vernova GE Vernova private Dell Technologies Dell Techno… DELL Sales $94B · 2020 Nokia Nokia NOK Hewlett Packard Enterpr… Hewlett Pac… HPE Quanta Computer Quanta Comp… private Schneider Electr… Schneider E… private Needs review review Supermicro Supermicro SMCI Under investigation, in a lawsuit, or tied to an alleged diversion flag Vertiv Vertiv VRT Share of revenue from the Ame… Vistra Vistra private Wiwynn Wiwynn 6669 Baseten Baseten private Fireworks AI Fireworks AI private Needs review review Firmus Firmus private CoreWeave CoreWeave CRWV Total debt $35.1B · Jun 2026 Alphabet (Google) Alphabet (G… GOOGL Market value passed $3 trilli… Amazon (AWS) Amazon (AWS) private Anthropic investment commitme… Microsoft Microsoft MSFT Also: Money $ Crusoe Crusoe private Also: Systems, network & power T5 Lambda Lambda private Megaspeed Megaspeed private NVIDIA equipment bought with… Under investigation, in a lawsuit, or tied to an alleged diversion flag Nebius Nebius NBIS Meta Platforms Meta Platfo… META Needs review review Nscale Nscale private Oracle Oracle ORCL Under investigation, in a lawsuit, or tied to an alleged diversion flag Together AI Together AI private Speedmatrix Speedmatrix private Under investigation, in a lawsuit, or tied to an alleged diversion flag xAI xAI private Mistral AI Mistral AI private Valuation after funding round… Safe Superintell… Safe Superi… private Valuation $30B · Mar 2025 Needs review review OpenAI OpenAI private Under investigation, in a lawsuit, or tied to an alleged diversion flag Anthropic Anthropic private Revenue $17B · Sep 2026 Under investigation, in a lawsuit, or tied to an alleged diversion flag Chalco Chalco 2600.HK China Northern Rare Ear… China North… private Market share 90% · 2009 GCL Technology GCL Technol… private Tongwei Tongwei private National Silicon Indust… National Si… private IPO proceeds $341M · Apr 2022 TCL Zhonghuan TCL Zhonghu… private Needs review review AMEC AMEC private Under investigation, in a lawsuit, or tied to an alleged diversion flag Empyrean Empyrean private Share of China's EDA market 6… Naura Naura private Needs review review SMEE SMEE private SMIC SMIC 0981.HK YMTC YMTC private Under investigation, in a lawsuit, or tied to an alleged diversion flag CXMT CXMT private Hua Hong Semiconductor Hua Hong Se… private Global foundry market share 2… JCET JCET private Tongfu Microelectronics Tongfu Micr… private Biren Technology Biren Techn… private Hygon Hygon private IPO proceeds $1.6B · Aug 2022 Huawei Huawei private Also: Clouds & neoclouds T6 Also: Systems, network & power T5 Cambricon Cambricon private Valuation at IPO $12B · Jul 2… MetaX MetaX private Moore Threads Moore Threa… private Inspur Inspur private Sugon Sugon private ByteDance ByteDance private Under investigation, in a lawsuit, or tied to an alleged diversion flag Global operations outside China global Also: AI labs T7 Shanghai Century L… Shanghai Ce… private Under investigation, in a lawsuit, or tied to an alleged diversion flag Tencent Tencent 0700.HK Under investigation, in a lawsuit, or tied to an alleged diversion flag Global operations outside China global Also: AI labs T7 Baidu Baidu private Market value $99B · May 2018 Needs review review Global operations outside China global Alibaba Alibaba BABA Global operations outside China global Also: Chip designers T4 Also: AI labs T7 DeepSeek DeepSeek private Under investigation, in a lawsuit, or tied to an alleged diversion flag MiniMax MiniMax private Valuation $2.5B · Mar 2024 Under investigation, in a lawsuit, or tied to an alleged diversion flag Moonshot AI Moonshot AI private Valuation $35B · Jul 2026 Under investigation, in a lawsuit, or tied to an alleged diversion flag Zhipu AI Zhipu AI private Market capitalization $62B ·… Needs review review + − Fit
Key $ T3 also in that tierglobal global operationsflag probe, lawsuit or allegationreview needs review