What companies say in their SEC filings
We count how often 285 catalog companies mention 18 AI data center topics in their own 10-K, 10-Q and 20-F filings, then rank them per 100,000 words. It shows who is putting a topic in front of investors, and how that is changing against the same filing a year earlier. Based on 817 filings, the newest for the period ended 2026-08-01. Each row links to the filing it counts.
Liquid cooling
Counts: liquid cooling, direct-to-chip, cold plates. Direct-to-chip cold plates · Coolant distribution units
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Vertiv | 10-Q · 2026-06-30 | 4 | 20 | |
| Ecolab | 10-Q · 2026-06-30 | 4 | 16 | |
| Supermicro | 10-Q · 2026-03-31 | 4 | 12 | |
| Flex | 10-Q · 2026-06-26 | 2 | 12 | |
| Trane | 10-Q · 2026-06-30 | 2 | 9.3 | |
| Applied Digital | 10-K · 2026-05-31 | 6 | 6.8 | |
| IREN | 10-K · 2026-06-30 | 4 | 3.3 |
HBM
Counts: HBM and HBM3/HBM4 variants, "high-bandwidth memory". HBM · top 8 of 9 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Micron | 10-Q · 2026-05-28 | 17 | 52 | |
| FormFactor | 10-Q · 2026-06-27 | 5 | 31 | |
| Eos | 10-Q · 2026-06-30 | 4 | 14 | |
| Aehr | 10-K · 2026-05-29 | 4 | 10 | |
| Teradyne | 10-Q · 2026-06-28 | 2 | 10 | |
| Lam Research | 10-K · 2026-06-28 | 3 | 5.6 | |
| KLA | 10-K · 2026-06-30 | 3 | 4.3 | |
| Arm | 20-F · 2026-03-31 | 4 | 3.1 |
CoWoS / advanced packaging
Counts: CoWoS, advanced packaging. 2.5D/3D advanced packaging · top 8 of 14 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Amkor | 10-Q · 2026-06-30 | 14 | 44 | |
| KLA | 10-K · 2026-06-30 | 12 | 17 | |
| Micron | 10-Q · 2026-05-28 | 5 | 15 | |
| Onto Innovation | 10-Q · 2026-06-30 | 2 | 10 | |
| TSMC | 20-F · 2025-12-31 | 9 | 10 | |
| Intel | 10-Q · 2026-06-27 | 2 | 7.9 | |
| Fabrinet | 10-K · 2026-06-26 | 4 | 7.1 | |
| Marvell | 10-Q · 2026-05-02 | 3 | 6.6 |
Co-packaged optics
Counts: co-packaged optics, CPO. Silicon photonics & co-packaged optics
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| FormFactor | 10-Q · 2026-06-27 | 5 | 31 | |
| Coherent | 10-K · 2026-06-30 | 7 | 12 | |
| Macom | 10-Q · 2026-07-03 | 2 | 12 | |
| Galaxy | 10-Q · 2026-06-30 | 2 | 2.1 |
Silicon photonics
Counts: silicon photonics. Silicon photonics & co-packaged optics
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Aehr | 10-K · 2026-05-29 | 9 | 23 | |
| Teradyne | 10-Q · 2026-06-28 | 3 | 15 | |
| GlobalFoundries | 20-F · 2025-12-31 | 7 | 7.7 | |
| Credo | 10-K · 2026-05-02 | 2 | 3.6 | |
| Coherent | 10-K · 2026-06-30 | 2 | 3.4 |
NVLink / InfiniBand
Counts: NVLink, InfiniBand. Scale-up fabric · Scale-out switch ASICs
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Coherent | 10-K · 2026-06-30 | 2 | 3.4 |
Optical transceivers
Counts: optical transceivers, optical modules. Optical transceivers
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Credo | 10-K · 2026-05-02 | 22 | 39 | |
| Monolithic Power Systems | 10-Q · 2026-06-30 | 2 | 15 | |
| MaxLinear | 10-Q · 2026-06-30 | 3 | 11 | |
| Lumentum | 10-K · 2026-06-27 | 8 | 10 | |
| Semtech | 10-Q · 2026-07-26 | 2 | 6.5 | |
| Viavi | 10-K · 2026-06-27 | 2 | 3.3 |
Power transformers
Counts: power, large, distribution and grid transformers; transformer shortage, lead time or supply. Large power transformers (345–765 kV) & substations · MV/LV transformers
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| AMSC | 10-Q · 2026-06-30 | 2 | 12 |
Switchgear
Counts: switchgear. HV switchgear, GIS, breakers, protection relays · MV switchgear, E-houses, power skids · LV switchgear, switchboards, panelboards
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| GE Vernova | 10-Q · 2026-06-30 | 8 | 31 | |
| nVent | 10-Q · 2026-06-30 | 3 | 19 | |
| Powell | 10-Q · 2026-06-30 | 2 | 13 | |
| Regal Rexnord | 10-Q · 2026-06-30 | 2 | 10 | |
| Vertiv | 10-Q · 2026-06-30 | 2 | 10 |
Gas turbines
Counts: gas turbines, gas-fired. Gas turbines (onsite / behind-the-meter) & HRSGs · top 8 of 26 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Fermi America | 10-Q · 2026-06-30 | 27 | 60 | |
| GE Vernova | 10-Q · 2026-06-30 | 12 | 47 | |
| Alliant | 10-Q · 2026-06-30 | 7 | 33 | |
| Ameren | 10-Q · 2026-06-30 | 12 | 27 | |
| Constellation | 10-Q · 2026-06-30 | 7 | 17 | |
| Vistra | 10-Q · 2026-06-30 | 7 | 17 | |
| WEC | 10-Q · 2026-06-30 | 6 | 13 | |
| Woodward | 10-Q · 2026-06-30 | 3 | 12 |
Nuclear / SMRs
Counts: nuclear, small modular reactors, SMR. Nuclear: existing fleet PPAs & restarts · SMRs, advanced reactors, components, fuel · top 8 of 43 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Oklo | 10-Q · 2026-06-30 | 68 | 348 | |
| BWXT | 10-Q · 2026-03-31 | 54 | 347 | |
| Lightbridge | 10-Q · 2026-06-30 | 40 | 318 | |
| Mirion | 10-Q · 2026-06-30 | 100 | 285 | |
| Entergy | 10-Q · 2026-06-30 | 203 | 256 | |
| NuScale | 10-Q · 2026-06-30 | 39 | 252 | |
| Constellation | 10-Q · 2026-06-30 | 100 | 245 | |
| Uranium Energy | 10-Q · 2026-04-30 | 41 | 222 |
Behind-the-meter power
Counts: behind-the-meter, on-site generation. Gas turbines (onsite / behind-the-meter) & HRSGs · top 8 of 9 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Stabilis | 10-Q · 2026-06-30 | 5 | 34 | |
| Kodiak Gas | 10-Q · 2026-06-30 | 5 | 21 | |
| Soluna | 10-Q · 2026-06-30 | 6 | 12 | |
| Alliant | 10-Q · 2026-06-30 | 2 | 9.3 | |
| TeraWulf | 10-Q · 2026-06-30 | 3 | 6.3 | |
| IREN | 10-K · 2026-06-30 | 2 | 1.7 | |
| Rio Tinto | 20-F · 2025-12-31 | 4 | 1.6 | |
| ASML | 20-F · 2025-12-31 | 2 | 1.0 |
Backup generators
Counts: backup generation, diesel generators, gensets. Backup generation: gensets, fuel systems, HVO
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Generac | 10-Q · 2026-06-30 | 5 | 19 | |
| United Rentals | 10-Q · 2026-06-30 | 2 | 9.1 | |
| Rio Tinto | 20-F · 2025-12-31 | 10 | 4.0 | |
| Entergy | 10-Q · 2026-06-30 | 3 | 3.8 | |
| Applied Digital | 10-K · 2026-05-31 | 3 | 3.4 | |
| Sify | 20-F · 2026-03-31 | 3 | 2.7 | |
| IREN | 10-K · 2026-06-30 | 2 | 1.7 |
Battery storage
Counts: battery energy storage, BESS, energy storage systems. Energy storage: UPS batteries & BESS · top 8 of 19 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Clearway | 10-Q · 2026-06-30 | 35 | 133 | |
| ESS | 10-Q · 2026-06-30 | 47 | 88 | |
| Eos | 10-Q · 2026-06-30 | 15 | 51 | |
| Ormat | 10-Q · 2026-06-30 | 13 | 36 | |
| Generac | 10-Q · 2026-06-30 | 9 | 34 | |
| Portland General | 10-Q · 2026-06-30 | 11 | 32 | |
| Nextracker | 10-Q · 2026-07-03 | 11 | 29 | |
| AES | 10-Q · 2026-06-30 | 16 | 26 |
Fuel cells
Counts: fuel cells. Fuel cells
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Bloom Energy | 10-Q · 2026-06-30 | 8 | 27 | |
| Cummins | 10-Q · 2026-06-30 | 5 | 21 | |
| AEP | 10-Q · 2026-06-30 | 5 | 5.9 |
Grid interconnection
Counts: interconnection queue, grid interconnection, power availability, power constraints. Transmission, interconnection & grid equipment · top 8 of 10 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| AMSC | 10-Q · 2026-06-30 | 2 | 12 | |
| TeraWulf | 10-Q · 2026-06-30 | 5 | 11 | |
| Nextracker | 10-Q · 2026-07-03 | 4 | 10 | |
| Celestica | 10-Q · 2026-06-30 | 2 | 7.0 | |
| CleanSpark | 10-Q · 2026-06-30 | 2 | 6.4 | |
| Portland General | 10-Q · 2026-06-30 | 2 | 5.7 | |
| Fermi America | 10-Q · 2026-06-30 | 2 | 4.5 | |
| IREN | 10-K · 2026-06-30 | 5 | 4.2 |
800 V DC
Counts: 800 V / 800 VDC, solid-state transformers. 800 V DC architecture & solid-state transformers
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| Eaton | 10-Q · 2026-06-30 | 2 | 11 |
GPUs
Counts: GPU, GPUs. Merchant GPUs / accelerators · top 8 of 19 companies
| Company | Latest filing | Mentions | Per 100k words | A year earlier |
|---|---|---|---|---|
| IREN | 10-K · 2026-06-30 | 128 | 107 | |
| Nvidia | 10-Q · 2026-07-26 | 24 | 103 | |
| AMD | 10-Q · 2026-06-27 | 24 | 68 | |
| Supermicro | 10-Q · 2026-03-31 | 14 | 42 | |
| DigitalOcean | 10-Q · 2026-06-30 | 7 | 34 | |
| CoreWeave | 10-Q · 2026-06-30 | 12 | 17 | |
| Arm | 20-F · 2026-03-31 | 18 | 14 | |
| Soluna | 10-Q · 2026-06-30 | 6 | 12 |
Questions about this data
- What does this count?
- The number of times a fixed list of phrases appears in a company's own SEC filings (10-K, 10-Q, 20-F). The phrases for each row are listed under its heading. It is a count of words, not a judgment about what the company means.
- Why per 100,000 words?
- An annual report is far longer than a quarterly one, so raw counts would favour long filings. The rate puts both on the same footing.
- Does more mentions mean more business?
- No. A company can mention a topic as a risk, as a market it serves or as something it is investing in. The count shows what management chooses to talk about, which is a signal to read the filing, not a measure of revenue.
- Why is a company missing?
- Only companies with US filings that the catalog already tracks are read, and a row needs at least two mentions in the latest filing. Foreign filers that do not file with the SEC are not covered.
Source: SEC EDGAR filings, refreshed weekly. Phrase lists are fixed in scripts/feeds/filing_terms.py.