Bottlenecks
Parts whose supply status is tagged from a sourced statement — constrained means demand exceeds supply per the cited source; tight means lengthening lead times. Untagged parts are simply unassessed, not unconstrained.
Leading-edge foundryconstrainedLayer 1 — Compute silicon & packaging
Every additional AI accelerator design and unit sold is another wafer order at the most advanced process nodes, concentrating incremental demand at a small number of qualified fabs.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| Intel | manufacturer | public | INTC | 86.96 USD | +2.6% | inferred | Foundry |
| Samsung Electronics | manufacturer | public | 005930.KS | 215500 KRW | +0.2% | disclosed | Foundry · source |
| TSMC | manufacturer | public | 2330.TW | 2385 TWD | -0.8% | reported | ~73% of the worldwide foundry market in Q2 2026, per Counterpoint Research and TrendForce (via CryptoBriefing, 2026-09-20) -- overall foundry share, not broken out by leading-edge node specifically — for essentially every AI accelerator shipping today · source |
2.5D/3D advanced packagingconstrainedLayer 1 — Compute silicon & packaging
Multi-die AI accelerator packages — a compute die plus HBM stacks — require advanced 2.5D/3D packaging that ordinary logic chips never needed, and packaging capacity has repeatedly been the first-order constraint on how many finished accelerators can ship.
ABF / high-layer package substratesconstrainedLayer 1 — Compute silicon & packaging
Larger, more complex AI accelerator packages need bigger, higher-layer-count substrates than prior chip generations, straining the segment of substrate capacity qualified to build them.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| AT&S | manufacturer | public | ATS.VI | 139 EUR | -2.5% | disclosed | · source |
| Daeduck | manufacturer | public | 008060.KS | 14240 KRW | +0.6% | reported | · source |
| Ibiden | manufacturer | public | 4062.T | 8512 JPY | -1.0% | disclosed | · source |
| Kinsus | manufacturer | public | 3189.TW | 986 TWD | -2.4% | inferred | |
| LG Innotek | manufacturer | public | 011070.KS | 379000 KRW | -3.6% | disclosed | · source |
| Nan Ya PCB | manufacturer | public | 8046.TW | 1265 TWD | -5.2% | disclosed | · source |
| Samsung Electro-Mechanics | manufacturer | public | 009150.KS | 1122000 KRW | -2.0% | disclosed | · source |
| Unimicron | manufacturer | public | 3037.TW | 1085 TWD | -1.4% | disclosed | · source |
| Zhen Ding | manufacturer | public | 4958.TW | 567 TWD | -2.1% | disclosed | · source |
| Shinko | manufacturer | unknown | disclosed | · source |
Substrate materialsconstrainedLayer 1 — Compute silicon & packaging
Rising AI substrate volume and larger, higher-layer-count substrate designs pull directly on the limited capacity of the specialty films, resins, and cloth that go into them.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| Ajinomoto | manufacturer | public | 2802.T | 5064 JPY | +0.5% | disclosed | ~95% of the global ABF build-up film market (Tom's Hardware, 2026-09-10) — ABF film (effectively sole source) · source |
| Asahi Kasei | manufacturer | public | 3407.T | 1576 JPY | -0.8% | disclosed | · source |
| Mitsubishi Gas Chemical | manufacturer | public | 4182.T | 3537 JPY | -0.1% | disclosed | BT resin · source |
| Nittobo | manufacturer | public | 3110.T | 2867 JPY | -3.4% | disclosed | low-Dk T-glass cloth · source |
| Sumitomo Bakelite | manufacturer | public | 4203.T | 7600 JPY | -1.8% | disclosed | · source |
Fab equipmenttightLayer 1 — Compute silicon & packaging
Every increment of new advanced-node wafer capacity added for AI accelerators is new fab equipment demand somewhere upstream in the process, ordered years ahead of the wafers it will eventually produce.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| Applied Materials | manufacturer | public | AMAT | 377 USD | +0.6% | inferred | |
| ASM International | manufacturer | public | ASM.AS | 700 EUR | -1.4% | disclosed | · source |
| ASML | manufacturer | public | ASML | 1572 USD | +1.2% | disclosed | sole global supplier of EUV lithography systems, the tool class required for 3nm-class and below (Bloomberg via Yahoo Finance, 2026-09-07) · source |
| KLA | manufacturer | public | KLAC | 146 USD | -1.0% | disclosed | · source |
| Kokusai | manufacturer | public | 6525.T | 6822 JPY | +0.4% | disclosed | · source |
| Lam Research | manufacturer | public | LRCX | 230 USD | +0.9% | disclosed | · source |
| Screen | manufacturer | public | 7735.T | 11630 JPY | -1.4% | inferred | |
| Tokyo Electron | manufacturer | public | 8035.T | 9458 JPY | -0.4% | disclosed | · source |
HBMconstrainedLayer 2 — Memory & storage
Larger models and longer context windows push accelerator designs toward more HBM stacks and higher per-stack capacity with each generation, keeping HBM the tightest link in the memory chain.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| BESI | manufacturer | public | BESI.AS | 145 EUR | -7.9% | inferred | |
| Disco | manufacturer | public | 6146.T | 49290 JPY | -3.2% | inferred | |
| Hanmi Semiconductor | manufacturer | public | 042700.KS | 191000 KRW | -0.8% | disclosed | stacking tools · source |
| Micron | manufacturer | public | MU | 878 USD | +3.8% | disclosed | · source |
| Samsung Electronics | manufacturer | public | 005930.KS | 215500 KRW | +0.2% | disclosed | · source |
| SK Hynix | manufacturer | public | 000660.KS | 1277000 KRW | +4.4% | disclosed | 62% of HBM revenue in Q2 2025, per Chosun Biz via Astute Group, 2025-09-24 -- a single-quarter figure, not a running average — leader · source |
DRAMconstrainedLayer 2 — Memory & storage
AI servers' data-staging and checkpointing needs raise host DRAM content per node, and HBM production competing for the same fab capacity tightens standard DRAM supply alongside it.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| Micron | manufacturer | public | MU | 878 USD | +3.8% | disclosed | · source |
| Nanya | manufacturer | public | 2408.TW | 414 TWD | -5.2% | disclosed | · source |
| Samsung Electronics | manufacturer | public | 005930.KS | 215500 KRW | +0.2% | disclosed | · source |
| SK Hynix | manufacturer | public | 000660.KS | 1277000 KRW | +4.4% | disclosed | · source |
| Winbond | manufacturer | public | 2344.TW | 155 TWD | -3.1% | disclosed | · source |
| CXMT | manufacturer | private | disclosed | China · source |
PassivestightLayer 4 — Servers, racks & integration
roughly 10–15× the passive count of a standard server; high-spec MLCC lead times around 24 weeks (mid-2026 trade press).
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| Chilisin | manufacturer | public | 2456.TW | ⚠ | inferred | ||
| Fenghua | manufacturer | public | 000636.SZ | 40.15 CNY | +1.4% | inferred | |
| Kyocera (AVX) | manufacturer | public | 6971.T | 3457 JPY | -2.0% | disclosed | · source |
| Murata | manufacturer | public | 6981.T | 6275 JPY | -2.8% | disclosed | · source |
| Panasonic | manufacturer | public | 6752.T | 3631 JPY | -1.4% | inferred | |
| Samsung Electro-Mechanics | manufacturer | public | 009150.KS | 1122000 KRW | -2.0% | disclosed | · source |
| Sunlord | manufacturer | public | 002138.SZ | 42.18 CNY | +1.8% | inferred | |
| Taiyo Yuden | manufacturer | public | 6976.T | 8364 JPY | -3.9% | disclosed | · source |
| TDK | manufacturer | public | 6762.T | 2625 JPY | -6.1% | inferred | |
| Vishay | manufacturer | public | VSH | 26.70 USD | -0.4% | disclosed | · source |
| Walsin | manufacturer | public | 2492.TW | 368 TWD | -9.2% | inferred | |
| Yageo | manufacturer | public | 2327.TW | 507 TWD | -6.8% | disclosed | · source |
Large power transformers (345–765 kV) & substationsconstrainedLayer 7 — Electrical: power distribution (grid to rack)
lead times of 2–4 years; the single biggest schedule risk for GW campuses.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| CG Power | manufacturer | public | CGPOWER.NS | 813 INR | -0.5% | inferred | |
| Efacec · unit of Mutares | manufacturer | subsidiary | MUX.DE* | inferred | |||
| GE Vernova | manufacturer | public | GEV | 815 USD | -1.0% | inferred | |
| Hitachi Energy · unit of Hitachi | manufacturer | subsidiary | 6501.T* | disclosed | · source | ||
| Hyosung Heavy | manufacturer | public | 298040.KS | 1877000 KRW | -1.9% | inferred | |
| Hyundai Electric | manufacturer | public | 267260.KS | 470000 KRW | -3.5% | inferred | |
| Končar | manufacturer | public | KOEI.ZG | ⚠ | inferred | ||
| LS Electric | manufacturer | public | 010120.KS | 156900 KRW | -2.2% | inferred | |
| Mitsubishi Electric | manufacturer | public | 6503.T | 4770 JPY | -2.3% | inferred | |
| Prolec GE · unit of Xignux/GEV | manufacturer | subsidiary | inferred | ||||
| Siemens Energy | manufacturer | public | ENR.DE | 119 EUR | -2.0% | disclosed | · source |
| TBEA | manufacturer | public | 600089.SS | 17.65 CNY | +1.9% | inferred | |
| WEG | manufacturer | public | WEGE3.SA | 42.73 BRL | -3.2% | inferred | |
| Delta Star | manufacturer | private | inferred | ||||
| Pennsylvania Transformer | manufacturer | private | disclosed | · source | |||
| SGB-SMIT | manufacturer | private | inferred | ||||
| Toshiba | manufacturer | private | inferred | ||||
| Virginia Transformer | manufacturer | private | inferred |
Gas turbines (onsite / behind-the-meter) & HRSGsconstrainedLayer 8 — Power generation & energy supply
new-build turbine slots are sold out years ahead; refurbished and aeroderivative units command premiums.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| Baker Hughes | manufacturer | public | BKR | 55.86 USD | +4.2% | inferred | |
| Doosan Enerbility | manufacturer | public | 034020.KS | 59400 KRW | -3.1% | disclosed | · source |
| GE Vernova | manufacturer | public | GEV | 815 USD | -1.0% | inferred | LM2500; LM6000; 7HA |
| Kawasaki Heavy | manufacturer | public | 7012.T | 2163 JPY | -1.0% | disclosed | · source |
| Mitsubishi Heavy Industries | manufacturer | public | 7011.T | 3614 JPY | -1.7% | inferred | |
| Siemens Energy | manufacturer | public | ENR.DE | 119 EUR | -2.0% | inferred | SGT-A; SGT-800 |
| Solar Turbines · unit of Caterpillar | manufacturer | subsidiary | CAT* | inferred | |||
| Ansaldo Energia | manufacturer | private | disclosed | · source | |||
| ProEnergy | manufacturer | private | inferred | refurbished units; slot brokerage |
Grain-oriented electrical steel & amorphous corestightLayer 10 — Materials & upstream inputs
GOES supply is the input constraint behind transformer lead times.
| Company | Role | Ownership | Ticker | Price | 1d | Confidence | Note |
|---|---|---|---|---|---|---|---|
| ArcelorMittal | manufacturer | public | MT | 59.43 USD | -1.2% | inferred | |
| Baosteel | manufacturer | public | 600019.SS | 5.88 CNY | -1.8% | inferred | |
| Cleveland-Cliffs | manufacturer | public | CLF | 13.90 USD | +6.5% | disclosed | sole US GOES producer · source |
| JFE | manufacturer | public | 5411.T | 1735 JPY | -1.7% | inferred | |
| Nippon Steel | manufacturer | public | 5401.T | 654 JPY | -2.1% | disclosed | Nippon Steel / US Steel · source |
| POSCO | manufacturer | public | 005490.KS | 275500 KRW | -3.8% | inferred | |
| Shougang | manufacturer | public | 000959.SZ | 3.38 CNY | +2.1% | inferred | |
| thyssenkrupp | manufacturer | public | TKA.DE | 13.61 EUR | +0.2% | disclosed | Electrical Steel · source |
| Proterial | manufacturer | private | disclosed | amorphous · source |