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.
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 | 195 EUR | +2.0% | inferred | |
| Disco | manufacturer | public | 6146.T | 60320 JPY | +0.9% | inferred | |
| Hanmi Semiconductor | manufacturer | public | 042700.KS | 218500 KRW | -1.6% | inferred | stacking tools |
| Micron | manufacturer | public | MU | 935 USD | -4.0% | inferred | |
| Samsung Electronics | manufacturer | public | 005930.KS | 260000 KRW | -1.8% | inferred | |
| SK Hynix | manufacturer | public | 000660.KS | 1703000 KRW | -0.8% | inferred | leader |
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 | 56.64 CNY | +4.7% | inferred | |
| Kyocera (AVX) | manufacturer | public | 6971.T | 3631 JPY | -0.4% | inferred | |
| Murata | manufacturer | public | 6981.T | 7434 JPY | +1.9% | inferred | |
| Panasonic | manufacturer | public | 6752.T | 4469 JPY | +2.5% | inferred | |
| Samsung Electro-Mechanics | manufacturer | public | 009150.KS | 1435000 KRW | +3.8% | inferred | |
| Sunlord | manufacturer | public | 002138.SZ | 50.45 CNY | +4.6% | inferred | |
| Taiyo Yuden | manufacturer | public | 6976.T | 9112 JPY | +2.7% | inferred | |
| TDK | manufacturer | public | 6762.T | 3087 JPY | +0.5% | inferred | |
| Vishay | manufacturer | public | VSH | 31.74 USD | +0.9% | inferred | |
| Walsin | manufacturer | public | 2492.TW | 299 TWD | +4.9% | inferred | |
| Yageo | manufacturer | public | 2327.TW | 586 TWD | +5.6% | inferred |
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 | 898 INR | +3.8% | inferred | |
| Efacec · unit of Mutares | manufacturer | subsidiary | MUX.DE* | inferred | |||
| GE Vernova | manufacturer | public | GEV | 954 USD | -2.2% | inferred | |
| Hitachi Energy · unit of Hitachi | manufacturer | subsidiary | 6501.T* | inferred | |||
| Hyosung Heavy | manufacturer | public | 298040.KS | 3098000 KRW | +0.9% | inferred | |
| Hyundai Electric | manufacturer | public | 267260.KS | 801000 KRW | -2.1% | inferred | |
| Končar | manufacturer | public | KOEI.ZG | ⚠ | inferred | ||
| LS Electric | manufacturer | public | 010120.KS | 213500 KRW | -2.3% | inferred | |
| Mitsubishi Electric | manufacturer | public | 6503.T | 5641 JPY | +1.0% | inferred | |
| Prolec GE · unit of Xignux/GEV | manufacturer | subsidiary | inferred | ||||
| Siemens Energy | manufacturer | public | ENR.DE | 150 EUR | -0.6% | inferred | |
| TBEA | manufacturer | public | 600089.SS | 19.36 CNY | -0.1% | inferred | |
| WEG | manufacturer | public | WEGE3.SA | 50.25 BRL | -0.3% | inferred | |
| Delta Star | manufacturer | private | inferred | ||||
| Pennsylvania Transformer | manufacturer | private | inferred | ||||
| 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 | 62.11 USD | +0.5% | inferred | |
| Doosan Enerbility | manufacturer | public | 034020.KS | 85500 KRW | -0.8% | inferred | |
| GE Vernova | manufacturer | public | GEV | 954 USD | -2.2% | inferred | LM2500; LM6000; 7HA |
| Kawasaki Heavy | manufacturer | public | 7012.T | 2615 JPY | -0.6% | inferred | |
| Mitsubishi Heavy Industries | manufacturer | public | 7011.T | 4032 JPY | +1.1% | inferred | |
| Siemens Energy | manufacturer | public | ENR.DE | 150 EUR | -0.6% | inferred | SGT-A; SGT-800 |
| Solar Turbines · unit of Caterpillar | manufacturer | subsidiary | CAT* | inferred | |||
| Ansaldo Energia | manufacturer | private | inferred | ||||
| 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 | 74.63 USD | -0.3% | inferred | |
| Baosteel | manufacturer | public | 600019.SS | 5.78 CNY | -1.0% | inferred | |
| Cleveland-Cliffs | manufacturer | public | CLF | 11.83 USD | +2.5% | inferred | sole US GOES producer |
| JFE | manufacturer | public | 5411.T | 1852 JPY | +0.7% | inferred | |
| Nippon Steel | manufacturer | public | 5401.T | 675 JPY | +0.6% | inferred | Nippon Steel / US Steel |
| POSCO | manufacturer | public | 005490.KS | 333500 KRW | -1.9% | inferred | |
| Shougang | manufacturer | public | 000959.SZ | 3.66 CNY | +2.2% | inferred | |
| thyssenkrupp | manufacturer | public | TKA.DE | 14.94 EUR | +3.3% | inferred | Electrical Steel |
| Proterial | manufacturer | private | inferred | amorphous |