Cloud · AI infrastructure · In-house silicon (TPU)
Alphabet (Google)
Big-tech operator of Search, YouTube, Android and Google Cloud. FY2025 revenue was $402.8B (+15%) and net income $132.2B. To expand AI data centers it raised cash capex from $52.5B to $91.4B in one year and guided 2026 to $175-185B. It co-designs its own TPU (Ironwood) with Broadcom and builds it at TSMC, while also buying Nvidia GPUs in volume. A key demand sink for AI chips.
GOOGL Updated Sep 12, 2026 5 AI consumers· 5 recurring
Per the valuechain.wiki graph, Alphabet (Google) is directly linked to 46 companies (22 supply, 23 revenue, 2 investment relationships) and reaches 116 companies within two hops; the links are backed by 74 dated sources, 15 of them primary filings (as of 2026-09-12).
Annual return · 2026-09-04'21+65.3%'22-39.1%'23+58.3%'24+36%'25+66%YTD+8.3%
Money in ▸advertising · consumers (Search · YouTube · Android)●Revenue $402.8BAnthropic●Recursion Pharmaceuticals●Intuit Inc.●Salesforce, Inc.●Booking Holdings Inc.●DoorDash, Inc.●AppLovin Corporation●Cintas Corporation●Colgate-Palmolive Company●Google Cloud customers (enterprises · AI)◐Revenue ~$17.7BPlanet Labs◐Walmart Inc◐McDonald's◐MercadoLibre, Inc.◐Shopify◐Uber◐Costco Wholesale◐LVMH Moet Hennessy Louis Vuitton◐Workday, Inc.◐Stryker Corporation◐HCA Healthcare, Inc.◐Honeywell Technologies◐AutoZone◐eBay Inc.◐
Alphabet (Google)FY2025 revenue $402.8B
▸ Money outNVIDIA●Units 169,000Broadcom●TSMC●Quanta Computer●Flex Ltd.●Xcel Energy●MediaTek◐Amount $1BSK hynix◐Marvell◐Intel◐Samsung Electronics◐Alchip Technologies◐Foxconn (Hon Hai)◐Arista Networks◐TeraWulf◐Wiwynn◐Eaton◐Schneider Electric◐GE Vernova◐NextEra Energy◐Comcast Corporation◐Duke Energy Corporation◐
Financials & Segments
- Total revenue · FY2025 revenue $402.8B (+15%), net income $132.2B
- Customer concentration · Demand sink for AI infrastructure. Cash capex $91.4B (FY2025, up 74% from $52.5B); 2026 guidance $175-185B. Its own TPU (Ironwood) is co-designed with Broadcom and made by TSMC; GPUs from Nvidia (169k Hopper units in 2024). Diversifying to Intel and Samsung foundries as TSMC hits capacity.
- Segments · Google Services · Google Cloud · Other Bets
Revenue from
- advertising · consumers (Search · YouTube · Android) High confidence· Revenue $402.8B · FY2025 · 10-K annual total revenue
The demand end of the chain: Search, YouTube and Android ads plus subscriptions make up most revenue. FY2025 total revenue $402.8B. - Anthropic High confidence
Supplies 5GW of TPU cloud to Anthropic plus up to $40B investment.Confirms EN TechCrunch Published Apr 24, 2026: Google to invest up to $40B in Anthropic (cash + compute)Confirms EN Anthropic Published Apr 21, 2026: Anthropic expands Google/Broadcom partnership for multi-GW compute - Recursion Pharmaceuticals High confidence
AI drug-discovery firm Recursion uses Google Cloud as its primary cloud (since 2019, expanded 2024): GKE, BigQuery, Gemini.Confirms EN PR Newswire Published Oct 21, 2024: Recursion and Google Cloud announce expansion of partnership - Intuit Inc. High confidence
Intuit's 10-K names Google Cloud Platform as another public cloud provider it uses to run its online offerings. As with Amazon (AWS), vendor-specific spend is not disclosed. - Salesforce, Inc. High confidence
In February 2025 Google expanded its strategic partnership with Salesforce so that Agentforce, Data Cloud and Customer 360 Apps run on Google Cloud infrastructure, with procurement also available via Google Cloud Marketplace. A June 2025 Korean media report separately noted that Salesforce's Hyperforce uses Google Cloud infrastructure alongside AWS. No dollar value is disclosed.Confirms KO Electronic Times (etnews) Published Jun 18, 2025: Salesforce Korea CEO: 'We will safely provide our data and AI agent platform from a Korean data center'Mentions KO ZDNet Korea Published Mar 6, 2025: 'AI, from tool to colleague'... Salesforce accelerates work automation with AgentforceConfirms EN Salesforce Published Feb 24, 2025: Salesforce and Google Bring Gemini to Agentforce, Enable More Customer Choice in Major Partnership Expansion - Booking Holdings Inc. High confidence
Alphabet (Google) sells the search advertising that serves as a major performance-marketing channel for Booking Holdings. Booking does not disclose Google-specific ad spend, while paid-search analysis independently confirms Booking.com's substantial Google Ads presence.Confirms EN Adthena Published Apr 28, 2025: Paid Search Power Plays: Key Wins, Shifts, and Strategies RevealedMentions KO Hana Securities Published Aug 5, 2024: Booking Holdings: Why Third-Quarter Guidance Was Conservative - DoorDash, Inc. High confidence
Alphabet provides Google Maps, which DoorDash identifies as a third-party service it uses or relies on, and Google Maps Platform also confirms DoorDash's deployment and joint improvements to delivery navigation, although usage fees were not disclosed.Confirms EN Google Maps Platform Published Aug 22, 2022: Improving the Navigation Experience with Hyperlocal Context - AppLovin Corporation High confidence
Alphabet provides AppLovin with Google Cloud services including GKE, Cloud CDN, Cloud Storage, and GPU virtual machines for its advertising and AI infrastructure, but AppLovin's $702.8 million of non-cancelable purchase obligations at year-end 2025 covered an unnamed cloud arrangement, so that company-wide amount is not attributed to Google Cloud in this edge metric.Confirms EN Google Cloud Published Dec 12, 2023: AI-driven growth: AppLovin's journey amplified by Google CloudConfirms EN Google Cloud Published Oct 6, 2022: Google Cloud to power AppLovin’s next phase of growth with leading cloud infrastructure and services - Cintas Corporation High confidence
Alphabet provides Google Cloud for Cintas's internal knowledge search and legacy enterprise applications, to which Cintas completed the migration of its on-premises applications in 2023.Confirms EN Google Cloud Published Apr 9, 2024: Cintas Builds Generative AI-Powered Internal Knowledge Center with Google Cloud - Colgate-Palmolive Company High confidence
Alphabet provides Google Kubernetes Engine, which Colgate-Palmolive adopted as its preferred managed environment, and Cloud Run, which it uses for internal applications, but Colgate-Palmolive's spending on Google Cloud has not been disclosed.Confirms EN Google Cloud Blog Published Jul 13, 2023: Managed containers: An enterprise standard at Colgate-Palmolive - Google Cloud customers (enterprises · AI) Medium confidence· Revenue ~$17.7B · Q4 2025 · quarterly revenue (run-rate $70B+)
Sells GCP and TPU compute to enterprise and AI customers. Q4 2025 revenue $17.7B (+48%), run-rate over $70B. - Planet Labs Medium confidence
Google Cloud provides Planet Labs' satellite-data storage and processing infrastructure (BigQuery etc.) under a 2021 partnership tracing back to the 2017 Terra Bella sale; in 2026 the two announced Project Suncatcher, an orbital AI datacenter demonstration. Amounts undisclosed.Mentions EN SpaceNews Published Jan 5, 2026: Planet bets on orbital data centers in partnership with GoogleConfirms EN Planet Labs Published Aug 18, 2021: Planet and Google Cloud Partner to Bring Planetary-Scale Satellite Data Analysis To Governments And Enterprises - Walmart Inc Medium confidence
Alphabet (Google) has a revenue relationship with Walmart through their AI commerce partnership and Google Cloud usage.Confirms KO The Korea Economic Daily Published Jan 12, 2026: Buy Walmart goods via Google AI: a one-stop shopping push - McDonald's Medium confidence
Alphabet's Google Cloud supplies cloud and generative-AI services to McDonald's under a 2023 strategic partnership, including the ArchIQ drive-thru system.Confirms EN PR Newswire (McDonald's, Google Cloud) Published Dec 6, 2023: McDonald's and Google Cloud Announce Strategic Partnership to Apply Generative AI Across Its Restaurants - MercadoLibre, Inc. Medium confidence
Google Cloud counts MercadoLibre as a cloud customer and is named alongside AWS as one of its largest cloud providers in the 10-K.Confirms EN MercadoLibre FY2025 Form 10-K Published Feb 25, 2026: MercadoLibre, Inc. Annual Report on Form 10-K (FY2025) - Shopify Medium confidence
Alphabet, through Google Cloud, hosts Shopify's commerce-platform infrastructure and is paid for it; Shopify's cloud spend is revenue for Google Cloud (Alphabet).Confirms EN Shopify Engineering Published Mar 26, 2018: Shopify's Infrastructure Collaboration with Google - Uber Medium confidence
Alphabet, through Google Cloud, hosts Uber's platform infrastructure under a 2023 seven-year deal and is paid for it; Uber's cloud spend is revenue for Google Cloud (Alphabet). - Costco Wholesale Medium confidence
Costco is a Google Cloud customer, running its AI and analytics platform on Vertex AI.Confirms EN Constellation Research Published Dec 15, 2025: Costco is approaching AI in a very Costco way - LVMH Moet Hennessy Louis Vuitton Medium confidence
Luxury group LVMH adopted Google Cloud for AI/ML and IT modernization under a 2021 strategic partnership.Confirms EN Google Cloud Press Corner Published Jun 16, 2021: LVMH and Google Cloud Create Strategic Partnership - Workday, Inc. Medium confidence
Workday's 10-K names Google Cloud as another public cloud provider it uses. Under a 2021 multi-year partnership, Workday Financial Management, HCM and Adaptive Planning can be deployed on Google Cloud infrastructure, and in May 2026 the partnership was expanded to connect Workday's agents with Google Cloud's agent platform (Gemini Enterprise). Vendor-specific spend is not disclosed.Confirms EN Workday Newsroom Published May 28, 2026: Workday and Google Cloud Expand Strategic Partnership to Bring AI Agents for HR and Finance Into Employees' Daily WorkflowsConfirms EN PR Newswire Published Aug 10, 2021: Google Cloud and Workday Announce Multi-Year, Strategic Partnership to Digitally Transform Enterprises Around the World - Stryker Corporation Medium confidence
Alphabet (Google) hosts the care.ai platform, which Stryker acquired in 2024, on Google Cloud Platform. Stryker does not disclose its GCP spending. - HCA Healthcare, Inc. Medium confidence
Alphabet's Google Cloud has a multiyear partnership providing HCA with healthcare data APIs, BigQuery, cloud infrastructure, and professional services, while the customer-specific contract value is not disclosed.Confirms EN Google Cloud Press Corner Published Aug 29, 2023: HCA Healthcare Collaborates with Google Cloud to Bring Generative AI to HospitalsConfirms EN HCA Healthcare Today Published May 25, 2021: HCA Healthcare partners with Google Cloud to accelerate digital transformation - Honeywell Technologies Medium confidence
Alphabet, through Google Cloud, provides Vertex AI, Gemini, and threat intelligence for integration into Honeywell Forge and industrial cybersecurity products, and although no commercial consideration is disclosed, Google's AI and cloud technology is a confirmed external input to Honeywell's industrial software stack. - AutoZone Medium confidence
Alphabet's Google expanded its partnership with AutoZone in 2026 after AutoZone exited its legacy data centers and migrated most applications to Google Cloud, but the companies did not disclose the contract value.Confirms EN Google Cloud via PR Newswire Published Apr 22, 2026: AutoZone Completes Three-Year Cloud Migration with Google Cloud - eBay Inc. Medium confidence
Alphabet provides Google Search, where eBay relies on product-discovery traffic and buys paid-search advertising, as well as Google Cloud Vertex AI and Vector Search for eBay's recommendation system, but eBay does not disclose Google-specific advertising or cloud spending.Confirms EN Google Cloud Blog Published Mar 7, 2024: eBay Accelerates Its AI-Driven Recommendation Engine with Vertex AI
Pays to
- NVIDIA High confidence· Units 169,000 (est.) · CY2024 · Omdia estimate
Buys Nvidia GPUs in volume for Google Cloud: about 169k Hopper units in 2024 (Omdia). One of Nvidia’s top-4 customers.Confirms EN heise online Published Dec 19, 2024: Microsoft buys most Nvidia accelerators (Omdia estimate) - Broadcom High confidence
Co-designs and co-develops its own TPU AI chips (Ironwood/TPU v7, next-gen 8t) with Broadcom, under an agreement running to 2031. Its biggest custom-AI-chip partner.Confirms EN TrendForce Published Nov 7, 2025: Google unveils 7th-gen TPU Ironwood with 9,216-chip superpodConfirms EN Tom's Hardware Accessed Jun 20, 2026: The custom AI ASIC state of play — Broadcom, Google TPUs, Meta MTIA - TSMC High confidence
Has its own TPU Ironwood fabricated at TSMC on N3P (192GB HBM3E); its Axion Arm CPU is also at TSMC.Mentions KO Herald Economy Published Jun 10, 2026: TSMC at capacity: Intel wins Google AI-chip foundry ordersConfirms EN TrendForce Published Nov 7, 2025: Google unveils 7th-gen TPU Ironwood with 9,216-chip superpod - Quanta Computer High confidence
Sources GB200 AI servers from Quanta. - Flex Ltd. High confidence
Google is a hyperscaler customer that has given Flex a multi-year contract spanning power infrastructure, thermal systems and complex hardware manufacturing. In Flex's FY2026 Q4 earnings call (2026-05-06), CEO Revathi Advaithi and CFO Kevin Krumm directly named Google as the customer behind this contract. The contract value was not disclosed. J.P. Morgan sharply raised Flex's price target immediately after the earnings release.Mentions EN The Globe and Mail (newswire) Published May 8, 2026: J.P. Morgan Sticks to Its Buy Rating for Flex (FLEX) - Xcel Energy High confidence
Alphabet's Google receives power for its Pine Island data center under an agreement with Xcel Energy's Minnesota utility and will cover its electric service and new grid infrastructure costs, but the total contract value was not disclosed.Confirms KO KETEP Global Energy Market Information Published Feb 26, 2026: U.S.: Google to deploy the world's largest iron-air battery for a Minnesota data centerConfirms EN Google Blog Published Feb 24, 2026: Google is coming to Minnesota and advancing clean energy goalsConfirms EN Xcel Energy Newsroom Published Feb 24, 2026: Xcel Energy to power new Google data center in Minnesota - MediaTek Medium confidence· Amount $1B · 2026 클라우드 ASIC 매출 목표(합산)
MediaTek handles I/O design and TSMC coordination on TPU v7e/v8e (alongside Broadcom) — custom-ASIC procurement chain.Confirms EN TrendForce Published Dec 15, 2025: TrendForce — MediaTek secures Google v7e/v8e TPU orders; 7x CoWoS request to TSMC - SK hynix Medium confidence
Supplies HBM3E (192GB) for TPU Ironwood and data-center memory (supplier/volume undisclosed).Confirms EN TrendForce Published Nov 7, 2025: Google unveils 7th-gen TPU Ironwood with 9,216-chip superpod - Marvell Medium confidence
Cited as a custom-AI-silicon customer (its main custom partner is Broadcom); attribution kept cautious.Mentions KO Herald Economy Published Jun 10, 2026: TSMC at capacity: Intel wins Google AI-chip foundry orders - Intel Medium confidence
Outsources part of next-gen TPU volume to Intel Foundry as TSMC hits capacity; a share of an estimated 6M TPUs in 2027-2028 goes to Intel.Confirms KO Herald Economy Published Jun 10, 2026: TSMC at capacity: Intel wins Google AI-chip foundry orders - Samsung Electronics Medium confidence
Buys HBM/DRAM from Samsung for TPUs and datacenters (60%+ of Google TPU HBM); also evaluating Samsung 2nm foundry for next-gen TPU (not finalized).Mentions KO Financial Post Published Jan 15, 2026: Samsung Foundry favored for Google’s 10th-gen TPU on 2nmConfirms KO Seoul Economic Daily Published Jan 10, 2026: Samsung favored for Google next-gen TPU; supplies 60%+ of TPU HBM - Alchip Technologies Medium confidence
Purchases AI custom ASIC design and production from Alchip. - Foxconn (Hon Hai) Medium confidence
Orders AI racks for Google Cloud (Foxconn-assembled). - Arista Networks Medium confidence
Buys AI datacenter Ethernet switches from Arista Networks. - TeraWulf Medium confidence
Google backstops AI compute via Fluidstack. - Wiwynn Medium confidence
Supplies cloud servers to Google (Wiwynn ODM). - Eaton Medium confidence
Sources datacenter power/UPS from Eaton. - Schneider Electric Medium confidence
Sources datacenter power/cooling from Schneider.Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA - GE Vernova Medium confidence
Sources datacenter power/grid gear from GE Vernova.Confirms KO ValueDeepDive Published Jan 1, 2026: You can buy GPUs but not electricity — GE Vernova analysis - NextEra Energy Medium confidence
Carbon-free datacenter power from NextEra nuclear.Confirms EN BIC Magazine Published Jan 1, 2026: NextEra eyes nuclear expansion as datacenter pipeline grows - Comcast Corporation Medium confidence
This is a distribution/carriage relationship via YouTube TV and YouTube Premium. A September 2025 dispute over affiliate fees briefly threatened a channel blackout, resolved with a new multi-year deal in October; in July 2026 the companies signed Peacock's largest-ever wholesale distribution deal to bundle Peacock into YouTube Premium.Confirms KO Newspim Published Jul 28, 2026: [US Market Movers] NBCUniversal Signs Deal to Offer Peacock to YouTube Premium Subscribers - Duke Energy Corporation Medium confidence
Alphabet's Google sources part of the electricity for its Lenoir, North Carolina data center through Duke Energy's Green Source Rider in a long-term customer relationship that links a 61 MW solar project and its incremental costs to Google's load.Confirms EN Duke Energy News Center Published Nov 24, 2015: Duke Energy, Google team up on solar power project in N.C.
Investors
- Berkshire Hathaway High confidence· equity stake 16.63$B · 57,835,013 shares
Berkshire is a new Alphabet shareholder, Buffett's only hyperscaler bet after avoiding AI.
Investments
- Anthropic High confidence
Google invests up to $40B in Anthropic (cash + TPU).Confirms EN TechCrunch Published Apr 24, 2026: Google to invest up to $40B in Anthropic (cash + compute)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| GE Vernova | lead2 | · | · | · | · | +99 | +44.4 |
| Chevron Corporation | lead2 | +46.2 | +58.5 | -13.6 | +1.3 | +10.1 | +40.7 |
| Equinix | lead2 | +20.3 | -21.1 | +25.4 | +19.5 | -16.9 | +37.3 |
| ExxonMobil | lead2 | +57.6 | +87.4 | -6.3 | +11.3 | +16 | +35.2 |
| Veeva Systems | lead2 | -6.2 | -36.8 | +19.3 | +9.2 | +6.2 | +23.2 |
| UnitedHealth Group Incorporated | lead2 | +45.2 | +6.9 | +0.8 | -2.4 | -33.1 | +21.9 |
| Keurig Dr Pepper Inc. | lead2 | +17.5 | -1.2 | -4.2 | -1.1 | -10.1 | +19.2 |
| Ford Motor Company | lead2 | +137.5 | -42.2 | +15.8 | -13.1 | +42.3 | +15.3 |
| Bank of America | lead2 | +49.6 | -23.8 | +4.8 | +33.9 | +28 | +15.2 |
| Marriott International, Inc. | lead2 | +25.3 | -9.3 | +53.1 | +24.9 | +12.3 | +9.1 |
| Hilton Worldwide Holdings Inc. | lead2 | +40.2 | -18.7 | +44.7 | +36.1 | +16.5 | +8.5 |
| Yum! Brands | lead2 | +30.1 | -6 | +3.9 | +4.7 | +14.9 | +0.6 |
| Kroger | lead2 | +45.4 | +0.4 | +5 | +36.9 | +4.3 | -4.6 |
| Shopify | lead2 | +21.7 | -74.8 | +124.4 | +36.5 | +51.4 | -9.9 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -16.5 |
| Domino's | lead2 | +48.4 | -37.9 | +20.7 | +3.2 | +0.9 | -17.2 |
| Boston Scientific Corporation | lead2 | +18.2 | +8.9 | +24.9 | +54.5 | +6.8 | -49.9 |
| eBay Inc. | lead1 | +33.8 | -36.5 | +7.7 | +44.8 | +42.7 | +19.8 |
| Colgate-Palmolive Company | lead1 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Cintas Corporation | lead1 | +26.5 | +3 | +34.8 | +22.2 | +3.8 | +7.4 |
| Costco Wholesale | lead1 | +51.8 | -19 | +49 | +39.6 | -5.4 | +6.7 |
| Honeywell Technologies | lead1 | -0.3 | +4.9 | +0 | +10 | -6.4 | +3.8 |
| Salesforce, Inc. | lead1 | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -1.6 |
| MercadoLibre, Inc. | lead1 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -1.8 |
| Walmart Inc | lead1 | +2 | -0.5 | +12.9 | +74 | +24.5 | -3.2 |
| DoorDash, Inc. | lead1 | · | -67.2 | +102.6 | +69.6 | +35 | -6.5 |
| Uber | lead1 | -17.8 | -41 | +149 | -2 | +35.5 | -7.3 |
| Planet Labs | lead1 | · | -29.3 | -43.2 | +63.6 | +388.1 | -8.1 |
| Workday, Inc. | lead1 | +14 | -38.7 | +65 | -6.5 | -16.8 | -8.8 |
| Booking Holdings Inc. | lead1 | +7.7 | -16 | +76 | +41.3 | +8.6 | -9.3 |
| Recursion Pharmaceuticals | lead1 | · | -55 | +27.9 | -31.4 | -39.5 | -11.2 |
| AutoZone | lead1 | +76.8 | +17.6 | +4.8 | +23.8 | +5.9 | -12 |
| Stryker Corporation | lead1 | +10.2 | -7.4 | +23.8 | +21.3 | -1.5 | -13.3 |
| McDonald's | lead1 | +27.8 | +0.5 | +15.1 | +0.1 | +7.9 | -14.7 |
| LVMH Moet Hennessy Louis Vuitton | lead1 | +46.6 | +12.7 | -1.8 | -7.3 | -20.4 | -20.3 |
| Intuit Inc. | lead1 | +70.3 | -39.1 | +61.8 | +1.2 | +6.1 | -49.3 |
| AppLovin Corporation | lead1 | · | -88.8 | +278.4 | +712.6 | +108.1 | -52.4 |
| Alphabet (Google) | node | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
| Marvell | benef1 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Intel | benef1 | +6.1 | -46.6 | +94.6 | -59.6 | +84 | +159.6 |
| Flex Ltd. | benef1 | +1.9 | +17.1 | +41.9 | +67.2 | +57.4 | +81.2 |
| Arista Networks | benef1 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| TeraWulf | benef1 | +77.1 | -95.5 | +258.2 | +135.8 | +103 | +43.7 |
| Alchip Technologies | benef1 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Quanta Computer | benef1 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Foxconn (Hon Hai) | benef1 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| NextEra Energy | benef1 | +23.4 | -8.5 | -25.3 | +21.5 | +15.5 | +6.2 |
| Duke Energy Corporation | benef1 | +19.1 | +2 | -1.6 | +15.6 | +12.7 | +5.3 |
| Xcel Energy | benef1 | +4.4 | +6.4 | -8.7 | +12.3 | +13.9 | +4.1 |
| Broadcom | benef1 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +3.8 |
| Berkshire Hathaway | benef1 | +29 | +3.3 | +15.5 | +27.1 | +10.9 | +0.7 |
| Comcast Corporation | benef1 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -1.9 |
| AT&S | benef2 | +57.5 | -22 | -27.6 | -41.3 | +188.9 | +334.1 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +172.1 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +170.5 |
| United Microelectronics (UMC) | benef2 | +43.2 | -40.3 | +39.2 | -19 | +28.8 | +168.9 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +155 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +149.3 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +139.1 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +138.8 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +135.3 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +131.5 |
| LG Electronics | benef2 | -16.2 | -20.9 | -5.8 | -9.5 | +19.2 | +105.5 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +81.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +61 |
| Samsung Electronics | benef2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +57.3 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +52.7 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +50.4 |
| Quanta Services | benef2 | +59.5 | +24.6 | +51.7 | +46.6 | +33.7 | +48 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +43 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| onsemi | benef2 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +35.5 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +34.8 |
| SK Telecom | benef2 | +7.9 | -12 | +15.8 | +15.5 | +37.5 | +29.7 |
| Verizon | benef2 | -7.5 | -20 | +2.7 | +13.1 | +8.9 | +29.3 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +29.1 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +25.6 |
| Williams Companies | benef2 | +38.4 | +32.8 | +11.9 | +62.3 | +14.9 | +25.2 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Amphenol | benef2 | +34.4 | -12.5 | +30.8 | +40.7 | +95.3 | +22.7 |
| UnitedHealth Group Incorporated | benef2 | +45.2 | +6.9 | +0.8 | -2.4 | -33.1 | +21.9 |
| Mitsubishi | benef2 | +52.5 | +15.9 | +84.1 | -0.3 | +70.2 | +20.8 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Apple | benef2 | +34.6 | -26.4 | +49 | +30.7 | +9.1 | +18 |
| Itochu | benef2 | +25.6 | +17.9 | +66.6 | +9.1 | +40.8 | +13 |
| Amazon | benef2 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Cameco | benef2 | +63.2 | +4.3 | +90.5 | +19.5 | +78.4 | +10.1 |
| Toppan Printing | benef2 | +49.3 | -2.1 | +99.1 | +8.1 | +10.7 | +7.2 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +6 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | +5.6 |
| Brookfield Asset Management Ltd. | benef2 | · | · | +45.6 | +39.7 | -0.2 | -0.4 |
| Warner Bros. Discovery, Inc. | benef2 | -21.8 | -59.7 | +20 | -7.1 | +172.7 | -2 |
| Nikon | benef2 | +46.2 | +10.9 | +23.1 | +13.7 | +19.7 | -2.4 |
| FANUC | benef2 | -16.5 | +4.4 | -8.1 | +15.6 | +37.7 | -4.5 |
| King Yuan Electronics (KYEC) | benef2 | +26.7 | -7.7 | +132.4 | +38.6 | +171 | -6.7 |
| The Walt Disney Company | benef2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -6.7 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -7.3 |
| TKO Group Holdings | benef2 | +3.6 | +39.9 | +23.9 | +74.2 | +48.9 | -10.3 |
| Nintendo | benef2 | -4.1 | +3.4 | +53.3 | +25.6 | -0.6 | -10.4 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | -11.2 |
| Mobileye | benef2 | · | · | +23.6 | -54 | -47.6 | -18 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -24.1 |
| Charter Communications | benef2 | -1.4 | -48 | +14.6 | -11.8 | -39.1 | -27.2 |
| Rigetti Computing | benef2 | · | -92.9 | +35.1 | +1449.2 | +45.2 | -31.4 |
| UBTech Robotics | benef2 | · | · | · | -21.6 | +95.4 | -38.8 |
YTD as of 2026-09-04 · source: Yahoo Finance
Alphabet (Google) operates across Cloud, AI infrastructure, In-house silicon (TPU). It is +8.3% in 2026. The supply side (avg +43.8%) has moved harder than the stock (+8.3%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Flex Ltd. (+81.2%) and the furthest behind is Intuit Inc. (-49.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. A key demand sink for AI chips.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 4 · Hold 1 · Sell 0 · Avg. target $428 · Price $338.46 (09-04) · Upside +26%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Wells Fargo · Ken Gawrelski | Overweight | $416 | Jul 2, 2026 | Report ↗ |
| Morgan Stanley · Brian Nowak | Overweight | $415 | Jun 30, 2026 | Report ↗ |
| Bank of America · Justin Post | Buy | $430 | Jun 30, 2026 | Report ↗ |
| UBS · Stephen Ju | Neutral | — | May 20, 2026 | Report ↗ |
| Goldman Sachs | Buy | $450 | Apr 30, 2026 | Report ↗ |
Trims target to $416 from $435 but keeps its Overweight rating.