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US ADR (PRC issuer, Toyota-backed) — thinner/volatile.","mass_bucket":null,"cap_ceiling":null,"mass":0.18784244338539582,"mass_source":"market_cap"},{"id":"qualcomm","type":"public_company","category":"chips","primary_sector":"hardware/accelerators","sectors":["hardware/accelerators"],"name":"Qualcomm","ticker":"QCOM","is_public":true,"aliases":["Snapdragon"],"liquidity":{"avg_daily_volume":"high","exchange":"NASDAQ","is_adr":false},"sector":"semiconductors","notes":"Mobile SoC leader and Arm licensee expanding into rack-scale data-center AI inference (AI200/AI250); flagship chips fabbed at TSMC.","mass_bucket":null,"cap_ceiling":null,"mass":0.6680049284699838,"mass_source":"market_cap"},{"id":"rockwell","type":"public_company","category":null,"primary_sector":"robotics/automation","sectors":["robotics/automation"],"name":"Rockwell Automation","ticker":"ROK","is_public":true,"aliases":["Rockwell","Rockwell Automation"],"liquidity":{"avg_daily_volume":"high","exchange":"NYSE","is_adr":false},"sector":"robotics","notes":"Industrial automation leader; partnered with NVIDIA (Omniverse digital twins, autonomous mobile robots). A buyable proxy for factory automation + physical AI.","mass_bucket":null,"cap_ceiling":null,"mass":0.5212676464053227,"mass_source":"market_cap"},{"id":"safe-superintelligence","type":"private_company","category":"ai_lab","primary_sector":"ai_models/labs","sectors":["ai_models/labs"],"name":"Safe Superintelligence","ticker":null,"is_public":false,"aliases":["SSI","Ilya Sutskever"],"liquidity":null,"sector":"ai_labs","notes":"Ilya Sutskever's lab; runs primarily on Google Cloud TPUs; Alphabet and NVIDIA among backers of its ~$32B round.","mass_bucket":"mid","cap_ceiling":null,"mass":0.48,"mass_source":"bucket"},{"id":"samsung","type":"public_company","category":"foundry_memory","primary_sector":"hardware/memory","sectors":["hardware/memory","hardware/foundry"],"name":"Samsung Electronics","ticker":"SSNLF","is_public":true,"aliases":["Samsung"],"liquidity":{"avg_daily_volume":"very_low","exchange":"OTC","is_adr":true},"sector":"semiconductors","notes":"Memory (DRAM/NAND/HBM) + logic-foundry giant; HBM3E/HBM4 supplier to NVIDIA and TSMC's main leading-edge foundry rival. Thin US OTC ADR (Seoul 005930.KS) — illiquid.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"},{"id":"sandisk","type":"public_company","category":"foundry_memory","primary_sector":"hardware/memory","sectors":["hardware/memory"],"name":"Sandisk","ticker":"SNDK","is_public":true,"aliases":["SanDisk"],"liquidity":{"avg_daily_volume":"high","exchange":"NASDAQ","is_adr":false},"sector":"semiconductors","notes":"Pure-play NAND/SSD maker spun off from Western Digital (Feb 2025); enterprise-SSD demand from AI datacenters.","mass_bucket":"mid","cap_ceiling":80000000000,"mass":0.48,"mass_source":"bucket"},{"id":"schneider-electric","type":"public_company","category":"infrastructure","primary_sector":"hardware/power_cooling","sectors":["hardware/power_cooling"],"name":"Schneider Electric","ticker":"SBGSY","is_public":true,"aliases":["Schneider"],"liquidity":{"avg_daily_volume":"very_low","exchange":"OTC","is_adr":true},"sector":"power","notes":"Datacenter power & liquid-cooling; co-develops NVIDIA AI-factory reference designs. Thin US OTC ADR (Euronext Paris SU) — illiquid.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"},{"id":"seagate","type":"public_company","category":"foundry_memory","primary_sector":"hardware/memory","sectors":["hardware/memory"],"name":"Seagate Technology","ticker":"STX","is_public":true,"aliases":["Seagate"],"liquidity":{"avg_daily_volume":"high","exchange":"NASDAQ","is_adr":false},"sector":"storage","notes":"Mass-capacity nearline HDD (Mozaic/HAMR); prime beneficiary of AI-datacenter cold-storage demand — nearline booked through 2027.","mass_bucket":null,"cap_ceiling":null,"mass":0.6780351351913371,"mass_source":"market_cap"},{"id":"serve-robotics","type":"public_company","category":null,"primary_sector":"robotics/autonomy","sectors":["robotics/autonomy"],"name":"Serve Robotics","ticker":"SERV","is_public":true,"aliases":["Serve Robotics","Serve"],"liquidity":{"avg_daily_volume":"medium","exchange":"NASDAQ","is_adr":false},"sector":"robotics","notes":"Sidewalk delivery robots (Uber Eats) built on NVIDIA Jetson Orin. NVIDIA was an early backer (exited its equity stake in late 2024).","mass_bucket":null,"cap_ceiling":null,"mass":0.14,"mass_source":"market_cap"},{"id":"sharon-ai","type":"public_company","category":"cloud","primary_sector":"ai_models/platforms","sectors":["ai_models/platforms"],"name":"SharonAI Holdings","ticker":"SHAZ","is_public":true,"aliases":["Sharon AI","SharonAI","SHAZ"],"liquidity":{"avg_daily_volume":"low","exchange":"NASDAQ","is_adr":false},"sector":"ai_cloud","notes":"Australian neocloud (NASDAQ: SHAZ). US$950M 5-yr cloud-infrastructure deal (May 2026) deploying across NEXTDC data centers on the VAST Data AI OS. Public proxy for the Australian AI-compute buildout.","mass_bucket":"startup","cap_ceiling":null,"mass":0.17,"mass_source":"bucket"},{"id":"sk-hynix","type":"public_company","category":"foundry_memory","primary_sector":"hardware/memory","sectors":["hardware/memory"],"name":"SK Hynix","ticker":"HXSCL","is_public":true,"aliases":["SK Hynix","Hynix"],"liquidity":{"avg_daily_volume":"very_low","exchange":"OTC","is_adr":true},"sector":"semiconductors","notes":"World's #1 HBM maker and the critical HBM3E/HBM4 supplier to NVIDIA (~27% of 1H25 revenue). Thin US OTC ADR (primary listing Seoul 000660.KS) — illiquid.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"},{"id":"skild-ai","type":"private_company","category":null,"primary_sector":"robotics/robotics_ai","sectors":["robotics/robotics_ai"],"name":"Skild AI","ticker":null,"is_public":false,"aliases":["Skild","Skild Brain"],"liquidity":null,"sector":"robotics","notes":"Robotics foundation models (Skild Brain); ~$14B valuation; backers include NVIDIA (NVentures), Samsung and Schneider Electric. Exposure via those holders.","mass_bucket":"small","cap_ceiling":null,"mass":0.3,"mass_source":"bucket"},{"id":"symbotic","type":"public_company","category":null,"primary_sector":"robotics/automation","sectors":["robotics/automation"],"name":"Symbotic","ticker":"SYM","is_public":true,"aliases":["Symbotic"],"liquidity":{"avg_daily_volume":"medium","exchange":"NASDAQ","is_adr":false},"sector":"robotics","notes":"Warehouse-automation robotics; Walmart is the anchor customer + investor. A buyable proxy for AI-driven logistics automation.","mass_bucket":null,"cap_ceiling":null,"mass":0.43991629459137316,"mass_source":"market_cap"},{"id":"teradyne","type":"public_company","category":null,"primary_sector":"robotics/automation","sectors":["robotics/automation"],"name":"Teradyne","ticker":"TER","is_public":true,"aliases":["Teradyne","Universal Robots"],"liquidity":{"avg_daily_volume":"high","exchange":"NASDAQ","is_adr":false},"sector":"automation","notes":"Semiconductor test equipment + industrial robotics (owns Universal Robots cobots and MiR AMRs); AI drives both chip-test and physical-AI robotics.","mass_bucket":null,"cap_ceiling":null,"mass":0.5562340471574416,"mass_source":"market_cap"},{"id":"tesla","type":"public_company","category":null,"primary_sector":"robotics/humanoids","sectors":["robotics/humanoids","robotics/autonomy"],"name":"Tesla","ticker":"TSLA","is_public":true,"aliases":["Tesla","Optimus","Dojo","FSD"],"liquidity":{"avg_daily_volume":"high","exchange":"NASDAQ","is_adr":false},"sector":"robotics","notes":"Optimus humanoid + FSD autonomy; trains on in-house Dojo plus NVIDIA and fabs AI silicon at TSMC. A directly-buyable robotics/autonomy proxy.","mass_bucket":null,"cap_ceiling":null,"mass":0.9076715066014757,"mass_source":"market_cap"},{"id":"theme-ai-compute","type":"theme","category":"theme","primary_sector":"ai_models/themes","sectors":["ai_models/themes"],"name":"AI Compute Buildout","ticker":null,"is_public":false,"aliases":["AI infrastructure","AI capex","accelerated computing"],"liquidity":null,"sector":"theme","notes":"The capex wave to train and serve frontier models — accelerators, memory, foundry, power and cooling.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"},{"id":"theme-ai-power","type":"theme","category":"theme","primary_sector":"ai_models/themes","sectors":["ai_models/themes"],"name":"AI Power & Cooling","ticker":null,"is_public":false,"aliases":["datacenter energy","AI power demand","grid buildout","datacenter cooling"],"liquidity":null,"sector":"theme","notes":"The energy bottleneck behind AI: powering and cooling the datacenters. Exposure runs through electrical gear, gas turbines and grid, nuclear PPAs, fuel cells and liquid cooling — the picks-and-shovels of the compute buildout's power layer.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"},{"id":"theme-physical-ai","type":"theme","category":"theme","primary_sector":"ai_models/themes","sectors":["ai_models/themes"],"name":"Physical AI","ticker":null,"is_public":false,"aliases":["embodied AI","robotics foundation models","humanoid robotics","robot learning"],"liquidity":null,"sector":"theme","notes":"AI moving from screens into the physical world — humanoid robots, robotics foundation models and autonomy. Exposure runs through compute (NVIDIA Isaac/Jetson), the public backers of private robot labs, and listed automation/sensing names.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"},{"id":"tsmc","type":"public_company","category":"foundry_memory","primary_sector":"hardware/foundry","sectors":["hardware/foundry"],"name":"Taiwan Semiconductor Manufacturing","ticker":"TSM","is_public":true,"aliases":["TSMC","Taiwan Semiconductor"],"liquidity":{"avg_daily_volume":"high","exchange":"NYSE","is_adr":true},"sector":"semiconductors","notes":"Foundry + CoWoS advanced packaging for NVIDIA and AMD. Traded in the US as the TSM ADR.","mass_bucket":null,"cap_ceiling":null,"mass":0.9332236336658488,"mass_source":"market_cap"},{"id":"vast-data","type":"private_company","category":"infrastructure","primary_sector":"ai_models/platforms","sectors":["ai_models/platforms"],"name":"VAST Data","ticker":null,"is_public":false,"aliases":["Vast Data","VAST"],"liquidity":null,"sector":"data_infra","notes":"Private data-platform company. Its AI Operating System (storage/database/compute) underpins SharonAI's Australian deployment. Not directly investable.","mass_bucket":"small","cap_ceiling":null,"mass":0.3,"mass_source":"bucket"},{"id":"vertiv","type":"public_company","category":"infrastructure","primary_sector":"hardware/power_cooling","sectors":["hardware/power_cooling"],"name":"Vertiv Holdings","ticker":"VRT","is_public":true,"aliases":["Vertiv"],"liquidity":{"avg_daily_volume":"high","exchange":"NYSE","is_adr":false},"sector":"datacenter_infrastructure","notes":"Data-center power + liquid cooling ('picks and shovels') for the AI buildout.","mass_bucket":null,"cap_ceiling":null,"mass":0.6173653596388908,"mass_source":"market_cap"},{"id":"western-digital","type":"public_company","category":"foundry_memory","primary_sector":"hardware/memory","sectors":["hardware/memory"],"name":"Western Digital","ticker":"WDC","is_public":true,"aliases":["Western Digital","WD"],"liquidity":{"avg_daily_volume":"high","exchange":"NASDAQ","is_adr":false},"sector":"storage","notes":"HDD maker (post-2025 SanDisk spin); the other half of the nearline HDD duopoly with Seagate, sold out into 2026 on AI demand.","mass_bucket":null,"cap_ceiling":null,"mass":0.6815579745558328,"mass_source":"market_cap"},{"id":"xai","type":"private_company","category":"ai_lab","primary_sector":"ai_models/labs","sectors":["ai_models/labs"],"name":"xAI","ticker":null,"is_public":false,"aliases":["Grok","Colossus"],"liquidity":null,"sector":"ai_labs","notes":"Elon Musk's AI lab (Grok) running the Colossus Memphis GPU supercluster; NVIDIA took a ~$2B stake in its 2025 round. Not investable directly — exposure runs through its compute suppliers.","mass_bucket":"large","cap_ceiling":null,"mass":0.72,"mass_source":"bucket"}],"edges":[{"id":"1x-nvidia-compute","from":"1x","to":"nvidia","type":"customer_of","sign":1,"weight":0.35,"confidence":0.75,"source_url":"https://www.therobotreport.com/1x-technologies-raises-100m-series-b-advance-neo-humanoid-robot/","as_of":"2024-01-12","todo":false,"notes":"1X uses NVIDIA's robotics platform from simulation to onboard inference."},{"id":"1x-openai-stake","from":"1x","to":"openai","type":"equity_stake","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://www.1x.tech/discover/1x-secures-100m-in-series-b-funding","as_of":"2024-01-12","todo":false,"notes":"OpenAI led 1X's Series A; 1X's value flows through OpenAI (and on to its holders)."},{"id":"1x-samsung-stake","from":"1x","to":"samsung","type":"equity_stake","sign":1,"weight":0.25,"confidence":0.8,"source_url":"https://www.therobotreport.com/1x-technologies-raises-100m-series-b-advance-neo-humanoid-robot/","as_of":"2024-01-12","todo":false,"notes":"Samsung NEXT participated in 1X’s $100M Series B."},{"id":"agility-amazon-stake","from":"agility-robotics","to":"amazon","type":"equity_stake","sign":1,"weight":0.3,"confidence":0.85,"source_url":"https://www.agilityrobotics.com/content/agility-robotics-to-go-public-through-merger-with-churchill-capital-corp-xi","as_of":"2026-06-24","todo":false,"notes":"Amazon is a strategic investor in Agility Robotics; its value flows into Amazon."},{"id":"agility-nvidia-stake","from":"agility-robotics","to":"nvidia","type":"equity_stake","sign":1,"weight":0.3,"confidence":0.85,"source_url":"https://www.agilityrobotics.com/content/agility-robotics-to-go-public-through-merger-with-churchill-capital-corp-xi","as_of":"2026-06-24","todo":false,"notes":"NVIDIA (NVentures) is a strategic investor in Agility Robotics + deep Isaac compute partner."},{"id":"alphabet-broadcom-tpu","from":"alphabet","to":"broadcom","type":"partner","sign":1,"weight":0.35,"confidence":0.75,"source_url":"https://www.investing.com/news/stock-market-news/broadcom-shares-jump-on-longterm-ai-chip-and-networking-deals-with-google-4599461","as_of":"2026-04-06","todo":false,"notes":"Broadcom co-designs Google's TPUs (seven generations since 2014) under a long-term deal through 2031 — Google is its largest, longest-standing AI chip customer."},{"id":"amazon-arm-graviton","from":"amazon","to":"arm","type":"depends_on","sign":1,"weight":0.3,"confidence":0.85,"source_url":"https://www.arm.com/markets/cloud-ai/cloud-computing/aws","as_of":"2026-06-01","todo":false,"notes":"AWS Graviton server CPUs are built on the Arm architecture (Neoverse)."},{"id":"amazon-credo-aec","from":"amazon","to":"credo","type":"customer_of","sign":1,"weight":0.45,"confidence":0.7,"source_url":"https://getcoai.com/news/credos-purple-cables-power-the-4b-ai-data-center-boom/","as_of":"2025-10-17","todo":false,"notes":"Amazon (AWS Trainium racks) is Credo's largest customer (~67% of revenue)."},{"id":"anthropic-alphabet-stake","from":"anthropic","to":"alphabet","type":"equity_stake","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://www.cnbc.com/2026/04/24/google-to-invest-up-to-40-billion-in-anthropic-as-search-giant-spreads-its-ai-bets.html","as_of":"2026-04-24","todo":false,"notes":"Alphabet holds a ~14% stake in Anthropic and is a Google Cloud / TPU compute partner; committed up to $40B more in 2026."},{"id":"anthropic-amazon-stake","from":"anthropic","to":"amazon","type":"equity_stake","sign":1,"weight":0.45,"confidence":0.85,"source_url":"https://www.aboutamazon.com/news/company-news/amazon-invests-additional-5-billion-anthropic-ai","as_of":"2026-04-20","todo":false,"notes":"Amazon is Anthropic's largest external investor (original ~$8B stake now worth far more) and its primary compute partner via AWS + Trainium."},{"id":"anthropic-iren-au-buildout","from":"anthropic","to":"iren","type":"customer_of","sign":1,"weight":0.3,"confidence":0.25,"source_url":"https://www.datacenterdynamics.com/en/news/anthropic-seeks-data-center-leasing-deals-in-europe-and-australia/","as_of":"2026-04-20","todo":false,"notes":"INFERRED, not a signed contract: Anthropic is pursuing an Australian data-center buildout (reported ~1.4GW / ~$15B, leaked tender + AU-gov MoU). No public deal names Anthropic as IREN's customer; IREN is a Sydney neocloud positioned to benefit. Low confidence."},{"id":"anthropic-openai-competitor","from":"anthropic","to":"openai","type":"competitor","sign":-1,"weight":0.3,"confidence":0.4,"source_url":"https://www.pbs.org/newshour/nation/openai-focuses-on-business-users-amid-competition-with-rival-anthropic","as_of":"2026-04-16","todo":false,"notes":"Direct frontier-lab rivals competing for enterprise AI spend — a speculative inverse link (Anthropic share gains pressure OpenAI's ecosystem). Low confidence."},{"id":"anthropic-sharonai-au-buildout","from":"anthropic","to":"sharon-ai","type":"customer_of","sign":1,"weight":0.3,"confidence":0.25,"source_url":"https://www.datacenterdynamics.com/en/news/anthropic-seeks-data-center-leasing-deals-in-europe-and-australia/","as_of":"2026-04-20","todo":false,"notes":"INFERRED, not a signed contract: Anthropic's Australian buildout (reported ~1.4GW / ~$15B) could anchor local neoclouds. Sharon AI's own US$950M deal names an unspecified customer, NOT Anthropic. Speculative link — low confidence."},{"id":"anthropic-theme-aicompute","from":"anthropic","to":"theme-ai-compute","type":"theme_exposure","sign":1,"weight":0.7,"confidence":0.8,"source_url":"https://www.anthropic.com/news/anthropic-amazon-compute","as_of":"2026-04-20","todo":false,"notes":"Anthropic's scaling drives AI-compute capex — e.g. securing up to 5GW of Amazon Trainium capacity for training/inference."},{"id":"apptronik-alphabet-stake","from":"apptronik","to":"alphabet","type":"equity_stake","sign":1,"weight":0.2,"confidence":0.75,"source_url":"https://techcrunch.com/2025/02/13/apptronik-raises-350m-to-build-humanoid-robots-with-help-from-google/","as_of":"2025-02-13","todo":false,"notes":"Google participated in Apptronik's $350M+ Series A and DeepMind partners on Gemini Robotics — a buyable proxy for the Apollo humanoid."},{"id":"apptronik-nvidia-compute","from":"apptronik","to":"nvidia","type":"partner","sign":1,"weight":0.35,"confidence":0.88,"source_url":"https://www.prnewswire.com/news-releases/apptronik-collaborates-with-nvidia-to-advance-ai-for-general-purpose-humanoid-robots-302092085.html","as_of":"2025-03-18","todo":false,"notes":"Apptronik's Apollo runs on NVIDIA Jetson + GR00T/Isaac; ongoing GTC collaboration."},{"id":"aurora-nvidia-drive","from":"aurora-innovation","to":"nvidia","type":"customer_of","sign":1,"weight":0.35,"confidence":0.9,"source_url":"https://ir.aurora.tech/news-events/press-releases/detail/112/aurora-continental-and-nvidia-partner-to-deploy-driverless-trucks-at-scale","as_of":"2025-01-06","todo":false,"notes":"Aurora Driver's primary computer runs on dual NVIDIA DRIVE Thor."},{"id":"cerebras-tsmc-fab","from":"cerebras","to":"tsmc","type":"customer_of","sign":1,"weight":0.45,"confidence":0.85,"source_url":"https://www.mostlymetrics.com/p/cerebras-ipo-s1-breakdown","as_of":"2026-04-17","todo":false,"notes":"Cerebras buys an entire TSMC wafer per WSE-3 unit — a critical sole-foundry dependency."},{"id":"cognex-nvidia-vision","from":"cognex","to":"nvidia","type":"customer_of","sign":1,"weight":0.3,"confidence":0.9,"source_url":"https://www.prnewswire.com/news-releases/cognex-launches-in-sight-vision-controller-powered-by-nvidia-302753259.html","as_of":"2026-04-28","todo":false,"notes":"Cognex embeds NVIDIA Jetson in its In-Sight AI vision controller."},{"id":"crusoe-gevernova-turbines","from":"crusoe","to":"ge-vernova","type":"customer_of","sign":1,"weight":0.35,"confidence":0.9,"source_url":"https://www.gevernova.com/news/press-releases/ge-vernova-crusoe-announce-major-29-unit-aeroderivative-gas-turbine-deliver-ai-data-centers","as_of":"2025-07-22","todo":false,"notes":"Crusoe ordered 29 GE Vernova gas-turbine packages (~1GW) for AI datacenters."},{"id":"crusoe-nvidia-gpu","from":"crusoe","to":"nvidia","type":"customer_of","sign":1,"weight":0.3,"confidence":0.7,"source_url":"https://www.datacenterdynamics.com/en/news/openai-and-oracle-to-deploy-450000-gb200-gpus-at-stargate-abilene-data-center/","as_of":"2025-09-15","todo":false,"notes":"Crusoe's Stargate Abilene campus deploys 450,000+ NVIDIA GB200 GPUs."},{"id":"figure-amazon-stake","from":"figure","to":"amazon","type":"equity_stake","sign":1,"weight":0.12,"confidence":0.7,"source_url":"https://www.cnbc.com/2024/02/29/robot-startup-figure-valued-at-2point6-billion-by-bezos-amazon-nvidia.html","as_of":"2024-02-29","todo":false,"notes":"Amazon's Industrial Innovation Fund participated in Figure's Series B — a thin but real public-holder proxy."},{"id":"figure-microsoft-stake","from":"figure","to":"microsoft","type":"equity_stake","sign":1,"weight":0.25,"confidence":0.8,"source_url":"https://www.cnbc.com/2024/02/29/robot-startup-figure-valued-at-2point6-billion-by-bezos-amazon-nvidia.html","as_of":"2024-02-29","todo":false,"notes":"Microsoft co-led Figure's $675M Series B and provides Azure AI infrastructure — a buyable proxy for Figure's humanoid program."},{"id":"figure-nvidia-stake","from":"figure","to":"nvidia","type":"equity_stake","sign":1,"weight":0.2,"confidence":0.8,"source_url":"https://www.cnbc.com/2024/02/29/robot-startup-figure-valued-at-2point6-billion-by-bezos-amazon-nvidia.html","as_of":"2024-02-29","todo":false,"notes":"NVIDIA invested in Figure's Series B and supplies its robot compute — a buyable proxy plus a robotics→hardware cross-link."},{"id":"intel-amat-equip","from":"intel","to":"applied-materials","type":"customer_of","sign":1,"weight":0.25,"confidence":0.6,"source_url":"https://www.sec.gov/Archives/edgar/data/0000006951/000162828025056742/amat-20251026.htm","as_of":"2025-10-26","todo":false,"notes":"Intel Foundry is a leading-edge logic customer of Applied Materials."},{"id":"intel-kla-equip","from":"intel","to":"kla","type":"customer_of","sign":1,"weight":0.25,"confidence":0.6,"source_url":"https://www.sec.gov/Archives/edgar/data/0000319201/000031920125000024/klac-20250630.htm","as_of":"2025-06-30","todo":false,"notes":"Intel is a leading-edge logic customer of KLA."},{"id":"intel-tsmc-outsource","from":"intel","to":"tsmc","type":"customer_of","sign":1,"weight":0.3,"confidence":0.75,"source_url":"https://hardwaretimes.com/intel-3nm-lunar-lake-arrow-lake-core-ultra-200-cpu-tsmc-fabs/","as_of":"2024-06-18","todo":false,"notes":"Intel outsources compute tiles (Lunar Lake N3B, Arrow Lake N3) to TSMC."},{"id":"iren-dell-blackwell","from":"iren","to":"dell","type":"depends_on","sign":1,"weight":0.5,"confidence":0.85,"source_url":"https://www.coindesk.com/markets/2026/05/27/iren-shares-jumps-on-usd1-6-billion-dell-deal-to-expand-ai-cloud-business","as_of":"2026-05-26","todo":false,"notes":"IREN's US$1.6B purchase agreement with Dell for air-cooled NVIDIA Blackwell systems (servers/storage/networking) to service its US$3.4B NVIDIA cloud contract; deployed at Childress. Dell benefits from IREN's AI-systems spend."},{"id":"iren-electranet-grid","from":"iren","to":"electranet","type":"depends_on","sign":1,"weight":0.55,"confidence":0.8,"source_url":"https://www.globenewswire.com/news-release/2026/06/03/3305925/0/en/iren-announces-first-australian-data-center-campus-800mw-in-south-australia.html","as_of":"2026-06-03","todo":false,"notes":"IREN signed a transmission connection agreement for four 330kV feeder exits at ElectraNet's substation — up to 800MW for the Bundey (SA) campus without network upgrades; Bundey is central to ElectraNet's Northern Transmission Project. Physical grid chokepoint; energization from 2028."},{"id":"marvell-tsmc-fab","from":"marvell","to":"tsmc","type":"customer_of","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://www.marvell.com/company/newsroom/marvell-demonstrates-industry-leading-2nm-silicon-for-accelerated-infrastructure.html","as_of":"2025-03-03","todo":false,"notes":"Marvell's custom AI accelerators/ASICs are built on TSMC 5nm/3nm/2nm."},{"id":"meta-amd-instinct","from":"meta","to":"amd","type":"customer_of","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://www.amd.com/en/newsroom/press-releases/2026-2-24-amd-and-meta-announce-expanded-strategic-partnersh.html","as_of":"2026-02-24","todo":false,"notes":"Meta committed up to $60B / 6GW of AMD Instinct (MI450) GPUs."},{"id":"meta-arista-switches","from":"meta","to":"arista","type":"customer_of","sign":1,"weight":0.38,"confidence":0.85,"source_url":"https://www.sec.gov/Archives/edgar/data/0001596532/000159653226000013/anet-20251231.htm","as_of":"2025-12-31","todo":false,"notes":"Meta is one of Arista’s two largest customers (15–26% of revenue across recent years)."},{"id":"meta-broadcom-mtia","from":"meta","to":"broadcom","type":"partner","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://about.fb.com/news/2026/04/meta-partners-with-broadcom-to-co-develop-custom-ai-silicon/","as_of":"2026-04-14","todo":false,"notes":"Broadcom co-develops Meta MTIA custom AI silicon — a multi-gigawatt, multi-year rollout."},{"id":"meta-constellation-ppa","from":"meta","to":"constellation-energy","type":"customer_of","sign":1,"weight":0.45,"confidence":0.9,"source_url":"https://www.constellationenergy.com/news/2025/constellation-meta-sign-20-year-deal-for-clean-reliable-nuclear-energy-in-illinois.html","as_of":"2025-06-03","todo":false,"notes":"Meta signed a 20-yr PPA for the 1,121MW Clinton nuclear plant."},{"id":"meta-nvidia-gpu","from":"meta","to":"nvidia","type":"customer_of","sign":1,"weight":0.45,"confidence":0.7,"source_url":"https://valueaddvc.com/blog/big-tech-ai-capex-in-2025-microsoft-google-meta-amazon-and-the-spending-race","as_of":"2026-04-29","todo":false,"notes":"Meta is one of NVIDIA's largest GPU customers; 2026 capex guided to $125–145B."},{"id":"micron-lam-equip","from":"micron","to":"lam-research","type":"customer_of","sign":1,"weight":0.25,"confidence":0.6,"source_url":"https://www.sec.gov/Archives/edgar/data/0000707549/000070754925000075/lrcx-20250629.htm","as_of":"2025-06-29","todo":false,"notes":"Micron's DRAM/HBM capacity drives Lam's memory-equipment segment."},{"id":"microsoft-arista-switches","from":"microsoft","to":"arista","type":"customer_of","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://finance.yahoo.com/news/microsoft-drives-26-arista-revenue-185939497.html","as_of":"2026-02-17","todo":false,"notes":"Microsoft was ~26% of Arista 2025 revenue (AI back-end Ethernet)."},{"id":"microsoft-coherent-transceiver","from":"microsoft","to":"coherent","type":"customer_of","sign":1,"weight":0.25,"confidence":0.55,"source_url":"https://www.spglobal.com/market-intelligence/en/news-insights/research/coherent-poised-for-robust-2025-growth-on-high-demand-in-ai-data","as_of":"2025-04-01","todo":false,"notes":"Hyperscalers (incl. Microsoft) are Coherent optical-transceiver customers."},{"id":"microsoft-constellation-ppa","from":"microsoft","to":"constellation-energy","type":"customer_of","sign":1,"weight":0.45,"confidence":0.9,"source_url":"https://www.constellationenergy.com/news/2024/Constellation-to-Launch-Crane-Clean-Energy-Center-Restoring-Jobs-and-Carbon-Free-Power-to-The-Grid.html","as_of":"2024-09-20","todo":false,"notes":"Microsoft signed a 20-yr PPA to restart Three Mile Island/Crane for its datacenters."},{"id":"microsoft-coreweave-customer","from":"microsoft","to":"coreweave","type":"customer_of","sign":1,"weight":0.4,"confidence":0.7,"source_url":"https://www.sec.gov/Archives/edgar/data/0001769628/000119312525044231/d899798ds1.htm","as_of":"2025-03-03","todo":false,"notes":"Per CoreWeave's S-1, Microsoft was its largest customer at ~62% of 2024 revenue — Microsoft's AI capex drives CoreWeave (concentration is also a risk)."},{"id":"microsoft-credo-aec","from":"microsoft","to":"credo","type":"customer_of","sign":1,"weight":0.35,"confidence":0.65,"source_url":"https://getcoai.com/news/credos-purple-cables-power-the-4b-ai-data-center-boom/","as_of":"2025-10-17","todo":false,"notes":"Microsoft is a named Credo AEC customer."},{"id":"microsoft-iren-gb300","from":"microsoft","to":"iren","type":"customer_of","sign":1,"weight":0.6,"confidence":0.9,"source_url":"https://www.globenewswire.com/news-release/2025/11/03/3178993/0/en/IREN-Secures-9-7bn-AI-Cloud-Contract-with-Microsoft.html","as_of":"2025-11-03","todo":false,"notes":"Microsoft's US$9.7B 5-yr AI-cloud contract gives it NVIDIA GB300 capacity at IREN's 750MW Childress campus (20% prepay). Microsoft is an anchor customer; IREN is a public proxy for hyperscaler AI-compute demand."},{"id":"microsoft-nebius-capacity","from":"microsoft","to":"nebius","type":"customer_of","sign":1,"weight":0.45,"confidence":0.85,"source_url":"https://nebius.com/newsroom/nebius-announces-multi-billion-dollar-agreement-with-microsoft-for-ai-infrastructure","as_of":"2025-09-08","todo":false,"notes":"Microsoft's ~$17–19B multi-year capacity deal is Nebius's anchor customer."},{"id":"microsoft-seagate-nearline","from":"microsoft","to":"seagate","type":"customer_of","sign":1,"weight":0.35,"confidence":0.65,"source_url":"https://app.dealroom.co/news/feed/seagate-secures-nearline-capacity-allocation-through-2027-amid-500-stock-surge","as_of":"2025-10-01","todo":false,"notes":"Microsoft Azure is among the hyperscalers with nearline-HDD agreements through 2026–27."},{"id":"mistral-asml-stake","from":"mistral","to":"asml","type":"equity_stake","sign":1,"weight":0.45,"confidence":0.9,"source_url":"https://mistral.ai/news/mistral-ai-raises-1-7-b-to-accelerate-technological-progress-with-ai/","as_of":"2025-09-09","todo":false,"notes":"ASML led Mistral's €1.7B Series C (~11% / ~€1.3B) — anchor stake; Mistral's value flows to ASML's stock."},{"id":"mistral-microsoft-partner","from":"mistral","to":"microsoft","type":"partner","sign":1,"weight":0.25,"confidence":0.85,"source_url":"https://techcrunch.com/2024/02/27/microsoft-made-a-16-million-investment-in-mistral-ai/","as_of":"2024-02-27","todo":false,"notes":"Microsoft made a ~$16M investment and distributes Mistral models on Azure."},{"id":"mistral-nvidia-compute","from":"mistral","to":"nvidia","type":"customer_of","sign":1,"weight":0.3,"confidence":0.6,"source_url":"https://www.cnbc.com/2025/09/09/ai-firm-mistral-valued-at-14-billion-as-asml-takes-major-stake.html","as_of":"2025-09-09","todo":false,"notes":"Mistral builds NVIDIA-GPU data centers in France; NVIDIA is also a continuing minority investor."},{"id":"mobileye-intel-stake","from":"mobileye","to":"intel","type":"equity_stake","sign":1,"weight":0.35,"confidence":0.85,"source_url":"https://finance.yahoo.com/news/intel-offload-mobileye-stake-worth-145829912.html","as_of":"2025-07-01","todo":false,"notes":"Intel still holds a residual (~10%, down from ~88%) controlling stake in Mobileye — Mobileye moves a slice of Intel's value."},{"id":"mobileye-tsmc-fab","from":"mobileye","to":"tsmc","type":"customer_of","sign":1,"weight":0.3,"confidence":0.65,"source_url":"https://en.wikichip.org/wiki/mobileye/eyeq/eyeq5","as_of":"2026-01-01","todo":false,"notes":"Mobileye EyeQ SoCs (EyeQ5/6) are fabricated on TSMC nodes."},{"id":"nebius-nvidia-gpu","from":"nebius","to":"nvidia","type":"customer_of","sign":1,"weight":0.45,"confidence":0.85,"source_url":"https://www.datacenterdynamics.com/en/news/microsoft-to-get-100000-nvidia-gb300s-under-nebius-deal-has-signed-more-than-33bn-in-capacity-agreements-with-neoclouds/","as_of":"2025-10-02","todo":false,"notes":"Nebius buys 100,000+ NVIDIA GB300 GPUs to fulfil the Microsoft deal."},{"id":"nvidia-arm-license","from":"nvidia","to":"arm","type":"customer_of","sign":1,"weight":0.3,"confidence":0.75,"source_url":"https://www.nvidia.com/en-us/data-center/grace-cpu/","as_of":"2026-04-02","todo":false,"notes":"NVIDIA's Grace CPU is Arm-based under a long-term architecture license; NVIDIA AI-server volume drives Arm royalties."},{"id":"nvidia-asteralabs-nvlink","from":"nvidia","to":"astera-labs","type":"partner","sign":1,"weight":0.35,"confidence":0.85,"source_url":"https://www.asteralabs.com/news/astera-labs-expands-collaboration-with-nvidia-to-advance-nvlink-fusion-ecosystem/","as_of":"2025-05-19","todo":false,"notes":"Astera's Aries PCIe/CXL retimers ship in volume across NVIDIA Hopper/HGX platforms."},{"id":"nvidia-cerebras-competitor","from":"nvidia","to":"cerebras","type":"competitor","sign":-1,"weight":0.3,"confidence":0.6,"source_url":"https://futurumgroup.com/insights/cerebras-s-1-teardown-is-the-23b-wafer-scale-ipo-the-end-of-gpu-homogeneity/","as_of":"2026-04-17","todo":false,"notes":"Wafer-scale architecture is a direct substitute to NVIDIA GPUs for AI compute."},{"id":"nvidia-coherent-optics","from":"nvidia","to":"coherent","type":"customer_of","sign":1,"weight":0.45,"confidence":0.9,"source_url":"https://www.coherent.com/news/press-releases/nvidia-and-coherent-announce-strategic-partnership","as_of":"2026-03-02","todo":false,"notes":"NVIDIA made a multibillion-dollar optics purchase commitment to Coherent and invested $2B."},{"id":"nvidia-iren-aicloud","from":"nvidia","to":"iren","type":"customer_of","sign":1,"weight":0.6,"confidence":0.9,"source_url":"https://www.cnbc.com/2026/05/07/iren-stock-ai-infrastructure-nvidia.html","as_of":"2026-05-07","todo":false,"notes":"NVIDIA anchors IREN with a US$3.4B 5-yr AI-cloud contract (air-cooled Blackwell) + a US$2.1B warrant (30M shares @ $70); IREN also deploys NVIDIA DSX. IREN is a public neocloud proxy for NVIDIA / AI-compute demand."},{"id":"nvidia-micron-hbm","from":"nvidia","to":"micron","type":"customer_of","sign":1,"weight":0.35,"confidence":0.7,"source_url":"https://www.micron.com/products/memory/hbm/hbm3e","as_of":"2026-06-25","todo":false,"notes":"Micron's HBM3E ships in NVIDIA's H200 and Blackwell (HGX B200 / GB200) accelerators; NVIDIA demand drives Micron's highest-margin memory line."},{"id":"nvidia-qualcomm-competitor","from":"nvidia","to":"qualcomm","type":"competitor","sign":-1,"weight":0.3,"confidence":0.6,"source_url":"https://siliconangle.com/2025/10/27/qualcomm-debuts-ai200-ai250-data-center-ai-chips/","as_of":"2025-10-27","todo":false,"notes":"Qualcomm's AI200/AI250 target the data-center inference market led by NVIDIA and AMD."},{"id":"nvidia-rockwell-omniverse","from":"nvidia","to":"rockwell","type":"partner","sign":1,"weight":0.25,"confidence":0.65,"source_url":"https://www.rockwellautomation.com/en-us/company/news/press-releases/Rockwell-Automation-Brings-Autonomous-Operations-to-Life-Using-NVIDIA-Omniverse.html","as_of":"2024-11-12","todo":false,"notes":"Rockwell integrates NVIDIA Omniverse (factory digital twins) + AI for autonomous operations — physical-AI adoption links hardware → automation."},{"id":"nvidia-samsung-hbm","from":"nvidia","to":"samsung","type":"customer_of","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://investor.nvidia.com/news/press-release-details/2025/NVIDIA-and-Samsung-Build-AI-Factory-to-Transform-Global-Intelligent-Manufacturing/default.aspx","as_of":"2025-10-31","todo":false,"notes":"NVIDIA names a key HBM3E/HBM4 supply collaboration with Samsung."},{"id":"nvidia-schneider-cooling","from":"nvidia","to":"schneider-electric","type":"partner","sign":1,"weight":0.3,"confidence":0.7,"source_url":"https://www.facilitiesdive.com/news/schneider-co-develops-2-reference-designs-to-optimize-ai-factories/760646/","as_of":"2025-09-19","todo":false,"notes":"NVIDIA's AI-factory platform drives demand for Schneider power/cooling designs (up to 1,152 GPUs/hall)."},{"id":"nvidia-skhynix-hbm","from":"nvidia","to":"sk-hynix","type":"customer_of","sign":1,"weight":0.5,"confidence":0.85,"source_url":"https://www.trendforce.com/news/2025/08/18/news-nvidia-reportedly-drives-27-of-sk-hynix-revenue-in-1h25-cementing-ai-chip-partnership","as_of":"2025-08-18","todo":false,"notes":"NVIDIA was ~27% of SK Hynix 1H25 revenue — the critical HBM3E/HBM4 supply tie."},{"id":"nvidia-tsmc-foundry","from":"nvidia","to":"tsmc","type":"customer_of","sign":1,"weight":0.55,"confidence":0.85,"source_url":"https://www.cnbc.com/2026/04/08/tsmc-nvidia-advanced-packaging-intel.html","as_of":"2026-04-08","todo":false,"notes":"TSMC fabricates NVIDIA's GPUs and supplies CoWoS advanced packaging; NVIDIA has booked the majority of TSMC's advanced-packaging capacity."},{"id":"openai-amd-compute","from":"openai","to":"amd","type":"customer_of","sign":1,"weight":0.3,"confidence":0.6,"source_url":"https://ir.amd.com/news-events/press-releases/detail/1260/amd-and-openai-announce-strategic-partnership-to-deploy-6-gigawatts-of-amd-gpus","as_of":"2025-10-06","todo":false,"notes":"OpenAI committed to 6GW of AMD Instinct GPUs; AMD issued OpenAI a warrant for up to 160M shares (~10% potential ownership), vesting on milestones."},{"id":"openai-cerebras-inference","from":"openai","to":"cerebras","type":"customer_of","sign":1,"weight":0.35,"confidence":0.75,"source_url":"https://www.tomshardware.com/tech-industry/artificial-intelligence/cerebras-files-for-ipo-company-remains-unprofitable-despite-20x-revenue-growth","as_of":"2026-04-17","todo":false,"notes":"OpenAI signed a $20B+ agreement for 750MW (expandable to 2GW) of Cerebras inference capacity."},{"id":"openai-coreweave-compute","from":"openai","to":"coreweave","type":"customer_of","sign":1,"weight":0.55,"confidence":0.85,"source_url":"https://investors.coreweave.com/news/news-details/2025/CoreWeave-Announces-Agreement-with-OpenAI-to-Deliver-AI-Infrastructure/default.aspx","as_of":"2025-03-10","todo":false,"notes":"OpenAI signed a five-year deal with CoreWeave (initially $11.9B, later expanded toward ~$22.4B) and took a ~$350M equity stake — CoreWeave is a direct OpenAI-compute proxy."},{"id":"openai-crusoe-stargate","from":"openai","to":"crusoe","type":"customer_of","sign":1,"weight":0.4,"confidence":0.7,"source_url":"https://www.crusoe.ai/resources/newsroom/crusoe-announces-flagship-abilene-data-center-is-live","as_of":"2025-09-15","todo":false,"notes":"Crusoe builds/operates OpenAI's flagship Stargate Abilene campus — OpenAI demand drives Crusoe."},{"id":"openai-microsoft-stake","from":"openai","to":"microsoft","type":"equity_stake","sign":1,"weight":0.4,"confidence":0.8,"source_url":"https://www.cnbc.com/2025/10/28/open-ai-for-profit-microsoft.html","as_of":"2025-10-28","todo":false,"notes":"After OpenAI's 2025 for-profit restructuring, Microsoft holds ~27% of OpenAI Group PBC (~$135B on paper) plus an incremental $250B Azure commitment."},{"id":"openai-nvidia-compute","from":"openai","to":"nvidia","type":"customer_of","sign":1,"weight":0.35,"confidence":0.6,"source_url":"https://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems","as_of":"2025-09-22","todo":false,"notes":"OpenAI compute demand drives NVIDIA — 10GW of systems with NVIDIA intending to invest up to $100B. Still a letter of intent (lower confidence)."},{"id":"openai-oracle-stargate","from":"openai","to":"oracle","type":"customer_of","sign":1,"weight":0.45,"confidence":0.75,"source_url":"https://www.datacenterdynamics.com/en/news/openai-signs-300bn-cloud-deal-with-oracle-report/","as_of":"2025-09-11","todo":false,"notes":"OpenAI's ~$300B five-year Stargate compute deal makes it an anchor OCI customer."},{"id":"openai-theme-aicompute","from":"openai","to":"theme-ai-compute","type":"theme_exposure","sign":1,"weight":0.8,"confidence":0.8,"source_url":"https://nvidianews.nvidia.com/news/openai-and-nvidia-announce-strategic-partnership-to-deploy-10gw-of-nvidia-systems","as_of":"2025-09-22","todo":false,"notes":"OpenAI's buildout anchors the AI-compute theme — e.g. a strategic partnership to deploy at least 10GW of NVIDIA systems."},{"id":"oracle-bloom-fuelcell","from":"oracle","to":"bloom-energy","type":"customer_of","sign":1,"weight":0.45,"confidence":0.85,"source_url":"https://www.power-eng.com/onsite-power/oracle-bloom-energy-strike-data-center-power-deal/","as_of":"2025-07-25","todo":false,"notes":"Oracle deploys Bloom fuel cells at OCI datacenters to power AI infrastructure."},{"id":"oracle-nvidia-gpu","from":"oracle","to":"nvidia","type":"customer_of","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://www.oracle.com/news/announcement/oracle-and-nvidia-help-enterprises-and-developers-accelerate-ai-innovation-2025-06-12/","as_of":"2025-06-12","todo":false,"notes":"Oracle fills OCI with NVIDIA Blackwell GPUs (GB200 NVL72, up to 131,072 GPUs)."},{"id":"ouster-nvidia-jetson","from":"ouster","to":"nvidia","type":"partner","sign":1,"weight":0.3,"confidence":0.85,"source_url":"https://www.roboticstomorrow.com/news/2026/05/05/ouster-brings-support-for-rev8-digital-lidar-to-robotics-and-edge-ai-ecosystem/26513/","as_of":"2026-05-05","todo":false,"notes":"Ouster integrates its Rev8 digital lidar with NVIDIA Jetson/Isaac for robotics."},{"id":"physical-intelligence-nvidia-compute","from":"physical-intelligence","to":"nvidia","type":"customer_of","sign":1,"weight":0.35,"confidence":0.85,"source_url":"https://www.therobotreport.com/physical-intelligence-open-sources-pi0-robotics-foundation-model/","as_of":"2025-02-01","todo":false,"notes":"Physical Intelligence's pi0 models require NVIDIA GPUs to train and run."},{"id":"physical-intelligence-openai-stake","from":"physical-intelligence","to":"openai","type":"equity_stake","sign":1,"weight":0.2,"confidence":0.7,"source_url":"https://www.cnbc.com/2024/11/04/jeff-bezos-and-openai-invest-in-robot-startup-physical-intelligence.html","as_of":"2024-11-04","todo":false,"notes":"OpenAI co-led Physical Intelligence's $400M round — the only equity bridge from this private lab toward buyable proxies (via OpenAI → Microsoft)."},{"id":"pony-nvidia-drive","from":"pony-ai","to":"nvidia","type":"customer_of","sign":1,"weight":0.35,"confidence":0.9,"source_url":"https://www.nvidia.com/en-us/solutions/autonomous-vehicles/partners/pony-ai/","as_of":"2026-04-24","todo":false,"notes":"Pony.ai's robotaxi autonomy controller is built on NVIDIA DRIVE Orin/Thor."},{"id":"qualcomm-arm-license","from":"qualcomm","to":"arm","type":"depends_on","sign":1,"weight":0.4,"confidence":0.7,"source_url":"https://www.qualcomm.com/news/releases/2025/10/qualcomm-unveils-ai200-and-ai250-redefining-rack-scale-data-cent","as_of":"2025-10-28","todo":false,"notes":"Qualcomm's CPUs/SoCs are built on Arm architecture licenses — a core royalty dependency."},{"id":"qualcomm-tsmc-fab","from":"qualcomm","to":"tsmc","type":"customer_of","sign":1,"weight":0.35,"confidence":0.75,"source_url":"https://www.sammobile.com/news/samsung-loses-qualcomm-3nm-chip-order-report/","as_of":"2025-12-29","todo":false,"notes":"Qualcomm fabs flagship Snapdragon SoCs at TSMC leading-edge nodes (3nm)."},{"id":"samsung-amat-equip","from":"samsung","to":"applied-materials","type":"customer_of","sign":1,"weight":0.3,"confidence":0.7,"source_url":"https://www.sec.gov/Archives/edgar/data/0000006951/000162828025056742/amat-20251026.htm","as_of":"2025-10-26","todo":false,"notes":"Samsung is one of Applied Materials’ two >10% customers."},{"id":"samsung-kla-equip","from":"samsung","to":"kla","type":"customer_of","sign":1,"weight":0.35,"confidence":0.85,"source_url":"https://www.sec.gov/Archives/edgar/data/0000319201/000031920125000024/klac-20250630.htm","as_of":"2025-06-30","todo":false,"notes":"Samsung is a >10% KLA customer (process control/metrology)."},{"id":"samsung-lam-equip","from":"samsung","to":"lam-research","type":"customer_of","sign":1,"weight":0.4,"confidence":0.85,"source_url":"https://www.sec.gov/Archives/edgar/data/0000707549/000070754925000075/lrcx-20250629.htm","as_of":"2025-06-29","todo":false,"notes":"Samsung is named among Lam Research's most significant customers."},{"id":"samsung-skhynix-competitor","from":"samsung","to":"sk-hynix","type":"competitor","sign":-1,"weight":0.4,"confidence":0.8,"source_url":"https://counterpointresearch.com/en/insights/global-dram-and-hbm-market-share","as_of":"2026-01-01","todo":false,"notes":"Samsung trails SK Hynix in HBM (58% vs 21%) and competes head-to-head in DRAM."},{"id":"samsung-tsmc-foundry-competitor","from":"samsung","to":"tsmc","type":"competitor","sign":-1,"weight":0.35,"confidence":0.75,"source_url":"https://www.kedglobal.com/korean-chipmakers/newsView/ked202509190008","as_of":"2025-09-19","todo":false,"notes":"Samsung Foundry is TSMC's primary leading-edge foundry rival (4nm logic die)."},{"id":"sandisk-samsung-competitor","from":"sandisk","to":"samsung","type":"competitor","sign":-1,"weight":0.3,"confidence":0.75,"source_url":"https://counterpointresearch.com/en/insights/global-nand-memory-market-share","as_of":"2025-12-03","todo":false,"notes":"Samsung leads NAND share where SanDisk competes (~12% vs ~32%)."},{"id":"sandisk-skhynix-competitor","from":"sandisk","to":"sk-hynix","type":"competitor","sign":-1,"weight":0.25,"confidence":0.7,"source_url":"https://counterpointresearch.com/en/insights/global-nand-memory-market-share","as_of":"2025-12-03","todo":false,"notes":"SanDisk and SK Hynix are competing NAND/SSD vendors."},{"id":"seagate-wd-competitor","from":"seagate","to":"western-digital","type":"competitor","sign":-1,"weight":0.4,"confidence":0.8,"source_url":"https://www.heise.de/en/news/WD-and-Seagate-confirm-Hard-drives-for-2026-sold-out-11178917.html","as_of":"2025-12-01","todo":false,"notes":"Seagate and Western Digital are the HDD duopoly (~39% vs ~37% share)."},{"id":"serve-robotics-nvidia-jetson","from":"serve-robotics","to":"nvidia","type":"customer_of","sign":1,"weight":0.3,"confidence":0.65,"source_url":"https://www.therobotreport.com/nvidia-investing-10m-in-last-mile-company-serve-robotics/","as_of":"2024-12-01","todo":false,"notes":"Serve's robots run on NVIDIA Jetson Orin; NVIDIA was an early investor (later exited the equity). 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optics)."},{"id":"theme-aicompute-meta","from":"theme-ai-compute","to":"meta","type":"theme_exposure","sign":1,"weight":0.4,"confidence":0.7,"source_url":"https://fortune.com/2026/04/29/meta-zuckerberg-145-billion-ai-spending-roi/","as_of":"2026-04-29","todo":false,"notes":"Meta raised 2026 capex guidance to $125–145B — a leading driver of AI-compute capex."},{"id":"theme-aicompute-nebius","from":"theme-ai-compute","to":"nebius","type":"theme_exposure","sign":1,"weight":0.45,"confidence":0.7,"source_url":"https://nebius.com/newsroom/nebius-announces-multi-billion-dollar-agreement-with-microsoft-for-ai-infrastructure","as_of":"2025-09-08","todo":false,"notes":"Pure-play AI-compute neocloud — high-beta beneficiary of the compute 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