Cloud · AI infrastructure · In-house silicon

Microsoft

Big-tech operator of Windows, Office and the Azure cloud. FY2025 (ended June 2025) revenue was $281.7B. To expand AI data centers it raised cash capex about 45% in one year to $64.6B. As Nvidia’s largest GPU buyer, plus AMD, TSMC and its own Maia silicon, it is a key demand sink for AI chips.

MSFT Updated Sep 12, 2026 5 AI consumers· 5 recurring

Per the valuechain.wiki graph, Microsoft is directly linked to 51 companies (35 supply, 17 revenue, 2 investment relationships) and reaches 112 companies within two hops; the links are backed by 68 dated sources, 12 of them primary filings (as of 2026-09-12).

Annual return · 2026-09-04'21+52.5%'22-28%'23+58.2%'24+12.9%'25+15.6%YTD+4%
Money in ▸enterprises · consumers (Azure · M365 · Windows)●Revenue $281.7BOpenAI●Take-Two Interactive Software, Inc.●Accenture plc◐Count 743,000 employeesServiceNow◐Walmart Inc◐Starbucks Corp◐Costco Wholesale◐Johnson Controls (Azure — OpenBlue)◐Parker-Hannifin Corporation◐Stryker Corporation◐Adobe Inc.◐3M Company◐Illinois Tool Works Inc.◐Boston Scientific Corporation◐Autodesk, Inc.◐Rockwell Automation, Inc.◐Snowflake○
MicrosoftFY2025
▸ Money outNVIDIA●Units 485,000AMD●TSMC●Credo Technology●Arista Networks●Constellation Energy●IREN●Nebius Group●Digital Realty●Take-Two Interactive Software, Inc.●Occidental Petroleum◐Count 500,000 metric_tonnes_CO2Brookfield Asset Management Ltd.◐Amount 10.5 GWSeagate Technology◐Astera Labs◐Intel◐Marvell◐Quanta Computer◐Foxconn (Hon Hai)◐Western Digital◐CoreWeave◐IonQ◐Wiwynn◐Eaton◐Schneider Electric◐GE Vernova◐Vertiv◐Ciena◐Caterpillar◐Cummins◐Super Micro◐Sumitomo Electric◐ABB◐Equinix◐Automatic Data Processing, Inc.◐3M Company◐memory · HBM (SK hynix · Samsung · Micron)○

Financials & Segments

  • Total revenue · FY2025 (ended June 2025) revenue $281.7B (+15%)
  • Customer concentration · Demand sink for AI infrastructure. Cash capex $64.6B (FY2025, up 45% from $44.5B). GPUs from Nvidia (485k Hopper units in 2024, its largest buyer) and AMD, foundry at TSMC (its own Maia chip), connectivity from Astera Labs.
  • Segments · Intelligent Cloud · Productivity and Business Processes · More Personal Computing

Revenue from

  • enterprises · consumers (Azure · M365 · Windows) High confidence· Revenue $281.7B · FY2025 · 10-K annual total revenue
    The demand end of the chain: sells cloud (Azure), productivity software (M365) and Windows to enterprises and consumers. FY2025 total revenue $281.7B.
    Confirms EN SEC / Microsoft Published Jul 30, 2025: Microsoft FY2025 Form 10-K
  • OpenAI High confidence
    Supplies Azure to OpenAI ($250B commitment) plus equity stake.
    Confirms KO Wikipedia Published Jan 1, 2026: OpenAI
    Confirms EN CNBC Published Sep 22, 2025: Nvidia to invest up to $100B in OpenAI
    Confirms EN Microsoft Azure Published Nov 15, 2023: Azure Maia for the era of AI: From silicon to software to systems
  • Take-Two Interactive Software, Inc. High confidence
    Microsoft receives royalties from Take-Two under Xbox publisher agreements based on units manufactured or digitally downloaded content revenue, and the specific amount paid was not disclosed.
    Confirms EN SEC EDGAR Published May 22, 2026: TAKE TWO INTERACTIVE SOFTWARE INC 10-K (2026-05-22)
  • Accenture plc Medium confidence· Count 743,000 employees · 2026년 공개 전사 배포 계획 · Accenture workforce covered by the Microsoft 365 Copilot rollout
    Microsoft supplies the Microsoft 365 and Copilot technology used across Accenture's internal operations. A 2026 account put the enterprise rollout at about 743,000 people, but the contract value was not disclosed.
    Confirms EN Microsoft Source Published Apr 27, 2026: Accenture is rolling out Copilot to a workforce the size of Denver. Here's how they're doing it.
  • ServiceNow Medium confidence
    Azure cloud for ServiceNow workloads.
    Confirms EN Futurum Published Jan 29, 2026: ServiceNow Q4 FY2025 earnings, AI platform
  • Walmart Inc Medium confidence
    Microsoft earns revenue supplying Walmart with Azure cloud and Azure OpenAI.
    Confirms EN Microsoft (Official Blog) Published Jan 9, 2024: Walmart unveils new generative AI-powered capabilities for shoppers and associates
  • Starbucks Corp Medium confidence
    Microsoft earns revenue supplying the Azure cloud and machine learning that run Starbucks' Deep Brew AI.
    Confirms EN Microsoft (Source) Published Jan 6, 2020: Starbucks turns to technology to brew up a more personal connection with its customers
  • Costco Wholesale Medium confidence
    Costco runs its core IT on Microsoft Azure, making it a Microsoft cloud customer.
    Confirms EN Constellation Research Published Dec 15, 2025: Costco is approaching AI in a very Costco way
  • Johnson Controls (Azure — OpenBlue) Medium confidence
    JCI's smart-building platform OpenBlue runs on Azure — for Microsoft, Azure demand carrying building/industrial IoT and generative-AI workloads, and an industrial reference case.
    Confirms EN Memoori Published Jan 15, 2026: Johnson Controls AI strategy — OpenBlue built on a Microsoft Azure co-development partnership
  • Parker-Hannifin Corporation Medium confidence
    Microsoft provides Azure Databricks and Power BI to Parker Aerospace, which has deployed them internally to process aircraft component data. The service spend is not disclosed.
    Confirms EN Microsoft Published Jun 25, 2024: Parker Aerospace writes innovative safety algorithm on Azure Databricks
  • Stryker Corporation Medium confidence
    Microsoft supplies the integrated technology Stryker uses for medical-device data and Smart Equipment Management. Stryker's spending is not disclosed.
    Confirms EN Stryker Published Aug 5, 2019: Smart Devices Deliver Actionable Insights
  • Adobe Inc. Medium confidence
    Microsoft provides the Azure platform where Adobe hosts Acrobat Sign and the Azure OpenAI Service used for Acrobat AI Assistant, and Adobe's SEC filing confirms the importance of third-party hosting purchases but does not disclose amounts by vendor.
    Confirms EN Adobe Trust Center Published Feb 12, 2026: Adobe Document Cloud Data Centers
    Mentions EN SEC EDGAR Published Jan 15, 2026: ADOBE INC. 10-K (2026-01-15)
  • 3M Company Medium confidence
    Microsoft provides the AI and digital platforms that 3M is adopting across customer service, finance, sales, and marketing, but platform fees and service contract value were not disclosed.
    Confirms KO Electronic Times Published Jul 16, 2026: Microsoft and 3M Form AI Data Center Alliance, Bringing Next-Generation Optical Connectivity to Azure
    Confirms EN 3M Investor Relations Published Jul 15, 2026: 3M and Microsoft Announce Strategic Partnership to Advance AI Data Center Infrastructure and Enterprise Transformation
  • Illinois Tool Works Inc. Medium confidence
    Microsoft provides Dynamics 365 and Power Platform to ITW subsidiary Avery Weigh-Tronix for service operations and customer management, while software and implementation costs were not disclosed.
    Confirms EN Microsoft Customer Stories Published Jul 1, 2025: Avery Weigh-Tronix works with Sikich to expedite data entry and cut payment timelines by 97% with Microsoft Dynamics 365 and Power Platform
  • Boston Scientific Corporation Medium confidence
    Microsoft is a provider on which Boston Scientific's corporate infrastructure relies heavily according to TechCrunch's reporting based on public internet records, although contract value by service was not disclosed.
    Mentions EN TechCrunch Published Aug 26, 2026: Medical device maker Boston Scientific says a cyberattack is causing a 'global disruption' to its operations
  • Autodesk, Inc. Medium confidence
    Microsoft is identified in Autodesk's July 2026 general subprocessor list as a cloud service provider embedded in Autodesk offerings and also provides Azure OpenAI Service and GPT-image-1 for generative AI features in Fusion, but Autodesk does not disclose Microsoft-specific spending.
    Confirms EN Autodesk Published Jul 1, 2026: Autodesk Subprocessors
    Confirms EN Autodesk News Published Sep 16, 2025: New investments in Autodesk Fusion to bring AI-powered transformation to manufacturing
  • Rockwell Automation, Inc. Medium confidence
    Microsoft provides the Azure managed services on which Rockwell develops and operates FactoryTalk Hub and Design Studio, while Rockwell's cloud-infrastructure spending with Microsoft was not disclosed.
    Confirms EN Microsoft Published Oct 2, 2023: Rockwell Automation Goes Cloud-Native on Azure to Bring Modern Software Development Paradigms to the Factory Floor
    Confirms EN Frost & Sullivan Published Oct 25, 2022: The Value of Industrial Cloud Software: A Pivot to Digital Transformation
  • Snowflake Low confidence
    Azure for Snowflake multi-cloud.
    Confirms EN Yahoo Finance Published Dec 1, 2025: Snowflake rides strong AI demand (Cortex, NVIDIA)

Pays to

  • NVIDIA High confidence· Units 485,000 (est.) · CY2024 · Omdia estimate
    Nvidia’s largest Hopper GPU buyer: about 485k units (H100/H200) in 2024, roughly double the next biggest (Omdia estimate).
    Mentions EN SEC / Microsoft Published Jul 30, 2025: Microsoft FY2025 Form 10-K
    Confirms EN heise online Published Dec 19, 2024: Microsoft buys most Nvidia accelerators (Omdia estimate)
    Mentions KO M Today Accessed Jun 20, 2026: Microsoft to phase out Nvidia chips, deploys its own Maia 200 AI chip in 2026
  • AMD High confidence
    Runs Azure OpenAI Service (GPT-3.5/4) and Copilot on AMD Instinct MI300X; offers ND MI300X v5 VMs.
    Confirms EN AMD Investor Relations Published May 21, 2024: AMD Instinct MI300X Accelerators Power Microsoft Azure OpenAI Service Workloads
    Confirms KO Seoul Economic Daily Accessed Jun 20, 2026: AMD: AI chip MI300X counts OpenAI, Meta, Microsoft among customers
  • TSMC High confidence
    Has its own Maia AI chips (Maia 100/200) fabricated at TSMC on N5 with CoWoS-S packaging; Maia 100 carries 64GB HBM2E.
    Confirms EN ServeTheHome Published Aug 26, 2024: Microsoft Maia 100 AI Accelerator for Azure
    Confirms KO M Today Accessed Jun 20, 2026: Microsoft to phase out Nvidia chips, deploys its own Maia 200 AI chip in 2026
  • Credo Technology High confidence
    Purchases AI interconnect (AEC, PAM4) from Credo.
    Confirms EN Quartz Published Jan 1, 2025: Credo growth in AI interconnects
    Confirms EN SEC EDGAR Published Jun 1, 2024: Credo Technology Form 10-K
  • Arista Networks High confidence
    Buys AI datacenter Ethernet switches from Arista Networks.
    Confirms KO ITWorld Published Aug 1, 2025: Meta builds high-speed Ethernet AI clusters with Arista
    Confirms EN SEC EDGAR Published Feb 18, 2025: Arista Networks Form 10-K
    Confirms EN Arista Published Feb 18, 2025: Arista Q4 and full-year 2024 results ($7B)
  • Constellation Energy High confidence
    Sources datacenter power from Constellation nuclear under a 20-year PPA.
    Confirms KO Edaily Published Sep 21, 2024: Largest US nuclear operator restarts Three Mile Island for Microsoft
    Confirms EN SEC EDGAR Published Sep 20, 2024: Constellation–MS Three Mile Island PPA (8-K)
  • IREN High confidence
    Rents GB300 AI cloud from IREN ($9.7B).
    Confirms EN GlobeNewswire Published Nov 3, 2025: IREN secures $9.7B AI cloud contract with Microsoft
  • Nebius Group High confidence
    Sources AI compute from Nebius ($17-19B).
    Confirms EN SEC EDGAR Published Nov 1, 2025: Nebius FY2025 results (6-K)
  • Digital Realty High confidence
    Leases hyperscale datacenters from Digital Realty.
    Confirms EN Global Data Center Hub Published Aug 1, 2025: Digital Realty $9B pipeline and hyperscale fund
  • Take-Two Interactive Software, Inc. High confidence
    Microsoft distributes and sells Take-Two's games digitally through Xbox Live and Xbox consoles, and individually represented more than 10% of Take-Two's total revenue in FY2026.
    Confirms EN FactorsToday Published Aug 21, 2026: Take-Two Interactive Software, Inc. (NASDAQ: TTWO) — The Launch Is De-Risking; the Price Is Not
    Confirms EN SEC EDGAR Published May 22, 2026: TAKE TWO INTERACTIVE SOFTWARE INC 10-K (2026-05-22)
    Mentions KO Kiwoom Securities Research Center Published Mar 3, 2026: Near-Term Concerns Are Limited; GTA VI Sales May Exceed Market Consensus
  • Occidental Petroleum Medium confidence· Count 500,000 metric_tonnes_CO2 · six years · Volume of DAC carbon removal credits Microsoft agreed to purchase from 1PointFive
    Microsoft agreed to buy 500,000 metric tons of direct-air-capture carbon removal credits from Occidental subsidiary 1PointFive over six years, but the contract value was not disclosed.
    Confirms EN Oil and Gas Climate Initiative Published Oct 17, 2025: OGCI Progress Report 2025
    Confirms KO Business Post Published Jul 10, 2024: Microsoft to Buy 500,000 Tons of Credits from Occidental Carbon-Capture Company
    Confirms EN Occidental Petroleum Published Jul 9, 2024: 1PointFive Announces Agreement to Sell 500,000 Metric Tons of Direct Air Capture Carbon Removal Credits to Microsoft
  • Brookfield Asset Management Ltd. Medium confidence· Amount 10.5 GW · 2026-2030 · renewable procurement framework
    Microsoft procures 10.5 GW of renewable power from Brookfield across the US and Europe in 2026-2030 under a framework worth more than $10 billion, to power its AI data centers.
    Confirms EN GlobeNewswire Published May 1, 2024: Brookfield and Microsoft Collaborating to Deliver Over 10.5 GW of New Renewable Power Capacity Globally
  • Seagate Technology Medium confidence
    Seagate nearline HDDs for AI data storage.
    Confirms EN AlphaStreet Published Jan 1, 2026: Seagate AI-storage capacity story (HAMR)
  • Astera Labs Medium confidence
    A key hyperscaler customer buying PCIe/Ethernet retimers and fabric connectivity directly (concentrated customer base).
    Confirms EN SEC EDGAR Published Feb 10, 2026: Astera Labs Form 10-K (FY2025)
  • Intel Medium confidence
    Buys Intel Xeon CPUs for Azure servers; the ND MI300X v5 VM uses 4th-gen Xeon as host CPU.
    Mentions EN AMD Investor Relations Published May 21, 2024: AMD Instinct MI300X Accelerators Power Microsoft Azure OpenAI Service Workloads
  • Marvell Medium confidence
    Cited as a hyperscaler custom-silicon partner (specific program and volume undisclosed); attribution kept cautious.
    Mentions KO Korea Economic Daily Published Apr 14, 2026: Marvell supplies custom AI silicon to hyperscalers
  • Quanta Computer Medium confidence
    Sources GB200 AI servers from Quanta.
    Confirms EN TweakTown Published Aug 1, 2024: NVIDIA GB200 AI servers: Foxconn 40%, Quanta 30%
  • Foxconn (Hon Hai) Medium confidence
    Orders GB200 AI racks for Azure (Foxconn-assembled).
    Confirms EN CNBC Published Dec 5, 2025: NVIDIA partner Foxconn reports 26% revenue spike on AI boom
  • Western Digital Medium confidence
    WDC nearline for AI-datacenter mass storage.
    Confirms EN MLQ Published Jan 1, 2026: WDC 2026 HDD production sold out (AI datacenters)
  • CoreWeave Medium confidence
    Rents GPU-cloud compute from CoreWeave.
    Confirms KO ZDNet Korea Published Sep 16, 2025: NVIDIA-fueled CoreWeave triples since IPO
  • IonQ Medium confidence
    Hosts IonQ QPUs on Azure Quantum.
    Confirms EN Quantum Zeitgeist Published Jan 1, 2026: Trapped-ion quantum (IonQ AWS, Azure, NVIDIA)
  • Wiwynn Medium confidence
    Supplies AI servers to Microsoft (Wiwynn ODM).
    Confirms EN TrendForce Published May 5, 2025: MS/Meta AI spend lifts NVIDIA ODM Wiwynn
  • Eaton Medium confidence
    Sources datacenter power/UPS from Eaton.
    Confirms EN SEC EDGAR Published Oct 30, 2025: Eaton quarterly results (8-K)
    Confirms KO TheElec Published Jan 1, 2024: Eaton targets Korean datacenter market with power solutions
  • Schneider Electric Medium confidence
    Sources datacenter power/cooling from Schneider.
    Confirms EN Schneider Electric Published Apr 30, 2026: Schneider Electric Q1 revenue release
    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 EN SEC EDGAR Published Feb 1, 2026: GE Vernova 2025 annual report (ARS/10-K)
    Confirms KO ValueDeepDive Published Jan 1, 2026: You can buy GPUs but not electricity — GE Vernova analysis
  • Vertiv Medium confidence
    Sources datacenter power/cooling from Vertiv.
    Confirms EN Vertiv Published Oct 17, 2024: Vertiv co-develops GB200 NVL72 power/cooling blueprint with NVIDIA
  • Ciena Medium confidence
    Sources inter-datacenter optical (DCI) from Ciena.
    Confirms KO Ciena KR Published Jan 1, 2026: Ciena global DCI (datacenter interconnect)
  • Caterpillar Medium confidence
    Sources datacenter backup power from Caterpillar and others.
    Confirms EN Manufacturing Dive Published Apr 30, 2026: Caterpillar to triple power generation, raises 2030 targets
  • Cummins Medium confidence
    Backup gensets to Microsoft datacenters.
    Confirms EN Manufacturing Dive Published Apr 30, 2026: Caterpillar to triple power generation, raises 2030 targets
  • Super Micro Medium confidence
    AI servers to Microsoft.
    Confirms EN Manufacturing Dive Published Apr 30, 2026: Caterpillar to triple power generation, raises 2030 targets
  • Sumitomo Electric Medium confidence
    Optical fiber/cable to Microsoft datacenters.
    Confirms EN Manufacturing Dive Published Apr 30, 2026: Caterpillar to triple power generation, raises 2030 targets
  • ABB Medium confidence
    Datacenter electrification to Microsoft.
    Confirms EN Manufacturing Dive Published Apr 30, 2026: Caterpillar to triple power generation, raises 2030 targets
  • Equinix Medium confidence
    Leases AI-datacenter space from Equinix and others.
    Confirms EN MarketWise Published Jan 1, 2026: Best data-center REITs for the AI boom (EQIX, DLR)
  • Automatic Data Processing, Inc. Medium confidence
    Microsoft's global payroll organization uses ADP as a key external vendor for employee payroll operations. The contract value is not disclosed.
    Confirms EN ADP ReThink Quarterly Published Aug 15, 2023: Jennifer Collins on Getting Employees Through a Crisis
  • 3M Company Medium confidence
    Microsoft is the first publicly announced hyperscale customer to deploy 3M's Expanded Beam Optical technology in Azure data centers, but the sales or licensing value was not disclosed.
    Confirms KO Electronic Times Published Jul 16, 2026: Microsoft and 3M Form AI Data Center Alliance, Bringing Next-Generation Optical Connectivity to Azure
    Confirms EN 3M Investor Relations Published Jul 15, 2026: 3M and Microsoft Announce Strategic Partnership to Advance AI Data Center Infrastructure and Enterprise Transformation
    Mentions EN Grand View Research Published Jul 1, 2026: Fiber Optic Connectors Market Size Report, 2026-2033
  • memory · HBM (SK hynix · Samsung · Micron) Low confidence
    Buys server DRAM/SSD and Maia HBM2E from the three memory makers (specific supplier and volume undisclosed).
    Mentions EN ServeTheHome Published Aug 26, 2024: Microsoft Maia 100 AI Accelerator for Azure

Investors

  • BlackRock High confidence· 100$B · AIP total investment potential
    Microsoft is an AIP co-founding partner, co-investing with BlackRock/GIP and MGX in AI data centers and power infrastructure.
    Confirms EN Microsoft Published Sep 17, 2024: BlackRock, GIP, Microsoft and MGX launch new AI partnership to invest in data centers

Investments

  • OpenAI High confidence
    Microsoft is OpenAI’s largest investor (Azure, profit share).
    Confirms EN CNBC Published Oct 28, 2025: OpenAI completes for-profit restructuring — Microsoft 27% stake (~$135B), $250B Azure, tech rights to 2032
    Mentions EN SEC / Microsoft Published Jul 30, 2025: Microsoft FY2025 Form 10-K

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

CompanyChain'21'22'23'24'25YTD
Target Corporationlead2+32.9-34.2-1.4-2.3-24.5+72.9
ASMLlead2+64.1-30.5+39.9-7.7+55.8+61.1
Kikkomanlead2+17.5-20+35.2-9.7-13.2+29.7
The Coca-Cola Companylead2+11.4+10.6-4.4+8.9+15.6+27.7
Fastenal Companylead2+34.1-24.3+41.3+13.5+14+25.6
UnitedHealth Group Incorporatedlead2+45.2+6.9+0.8-2.4-33.1+21.9
Applelead2+34.6-26.4+49+30.7+9.1+18
Ford Motor Companylead2+137.5-42.2+15.8-13.1+42.3+15.3
Nestlé S.A.lead2+22.1-4.2-9.3-18.8-1.8+11
Airbuslead2+34.8+3.9+30.5+15+18.3+4.8
HCA Healthcare, Inc.lead2+57.6-5.6+13.8+11.8+56.7-12.9
Kialead2+3.1-13.8+54+3.7+60.1-13.5
E-mart Inc.lead2-18.4-19.5-25.3-14.6+44.7-17.1
IBMlead2+16.7+10.6+21.8+39.3+38.2-19.1
Accenture plclead2+60.7-34.8+33.6+1.9-22.6-29
Intuit Inc.lead2+70.3-39.1+61.8+1.2+6.1-49.3
Snowflakelead1+20.4-57.6+38.6-22.4+42.1+53.7
Starbucks Corplead1+11.1-13.2-1.2-2.5-5.3+26.3
Johnson Controlslead1+77.4-19.3-7.6+39.8+53+21.7
Rockwell Automation, Inc.lead1+41.2-24.8+22.6-6.2+38.4+12.6
Illinois Tool Works Inc.lead1+23.6-8.5+21.6-1-0.4+11
Parker-Hannifin Corporationlead1+18.3-6.9+60.8+39.6+39.5+10.2
3M Companylead1+4.9-29.6-3.3+46.1+26.4+6.8
Costco Wholesalelead1+51.8-19+49+39.6-5.4+6.7
Walmart Inclead1+2-0.5+12.9+74+24.5-3.2
ServiceNowlead1+17.9-40.2+82+50.1-27.7-7.8
Stryker Corporationlead1+10.2-7.4+23.8+21.3-1.5-13.3
Take-Two Interactive Software, Inc.lead1-14.5-41.4+54.6+14.4+39.1-16.1
Adobe Inc.lead1+13.4-40.7+77.3-25.5-21.3-23.9
Autodesk, Inc.lead1-7.9-33.5+30.3+21.4+0.1-26.4
Boston Scientific Corporationlead1+18.2+8.9+24.9+54.5+6.8-49.9
Microsoftnode+52.5-28+58.2+12.9+15.6+4
Seagate Technologybenef1+87.5-51.4+69.1+4.1+225.3+209.1
Western Digitalbenef1+17.7-51.6+66+13.9+283.7+171.6
Marvellbenef1+84.6-57.5+63.7+83.8-22.8+163.4
Intelbenef1+6.1-46.6+94.6-59.6+84+159.6
AMDbenef1+56.9-55+127.6-18.1+77.3+123
Wiwynnbenef1+24.7-22.3+206.4+3.5+64.4+120.2
Astera Labsbenef1····+25.6+86.6
Vertivbenef1+33.8-45.3+251.8+136.8+42.8+73.2
Arista Networksbenef1+97.9-15.6+94.1+87.7+18.5+47.9
GE Vernovabenef1····+99+44.4
Caterpillarbenef1+16+18.6+25.9+24.7+60.3+42.9
Cienabenef1+45.6-33.8-11.7+88.4+175.8+37.3
Equinixbenef1+20.3-21.1+25.4+19.5-16.9+37.3
Super Microbenef1+38.8+86.8+246.2+7.2-4+35.3
Eatonbenef1+46.7-7.2+56.2+39.5-2.8+30.1
Quanta Computerbenef1+22.2-12.8+254.5+12.7+8.9+28.5
NVIDIAbenef1+125.5-50.3+239+171.2+38.9+23.7
Schneider Electricbenef1+25.9+1.6+25.8+36.1+0.5+20.7
Foxconn (Hon Hai)benef1-5.1+2.8+7.8+80.1+26.9+19.6
Credo Technologybenef1··+46.3+245.2+114.1+18.5
IRENbenef1·-92.3+472+37.3+284.6+18.3
Cumminsbenef1-1.7+14.1+1.7+48.9+49.4+11
Automatic Data Processing, Inc.benef1+42.6-1.3-0.2+28.4-10.2+9.6
3M Companybenef1+4.9-29.6-3.3+46.1+26.4+6.8
Brookfield Asset Management Ltd.benef1··+45.6+39.7-0.2-0.4
IonQbenef1·-79.3+259.1+237.1+7.4-11.9
Constellation Energybenef1··+37.2+92.7+58.8-15
Take-Two Interactive Software, Inc.benef1-14.5-41.4+54.6+14.4+39.1-16.1
AT&Sbenef2+57.5-22-27.6-41.3+188.9+334.1
Dell Technologiesbenef2+51.2-26.6+95.9+53+11.2+320.2
Bloom Energybenef2-23.5-12.8-22.6+50.1+291.2+191
Nan Ya PCBbenef2+110.6-46.7-0.5-38.3+188.2+172.1
Nebius Groupbenef2····+202.2+170.5
Ibidenbenef2+30.4-19.6+51.6-38.6+261+149.3
Lumentumbenef2+11.6-50.7+0.5+60.1+339.1+139.1
Unimicronbenef2+133.5-30.2+35.2-19.7+175.7+138.8
ASE Technologybenef2+38.3-12.8+60.9+10.1+65.6+135.3
Murata Manufacturingbenef2-14-11.7+24.7-16.5+29.9+131.5
SK hynixbenef2-0.4-25.6+53.9+48.6+361.1+81.6
Corningbenef2+5.9-11.6-1.2+60.6+87.8+77.2
Keysight Technologiesbenef2+56.3-17.2-7+1+26.5+61
Nucor Corporationbenef2+118.4+17.4+33.8-32+42+61
Samsung Electronicsbenef2-9-14.2+20.9-26.4+212.9+59.7
Wistronbenef2+7.9+9.7+272.7-1.6+22.7+57.3
Coherentbenef2-10-48.6+24+117.6+94.8+52.7
Delta Electronicsbenef2-3.4+10.4-0.3+59.2+183.8+50.4
Pegatronbenef2-5.9+0.6+35.3+21.2-23.8+43
onsemibenef2+107.5-8.2+33.9-24.5-14.1+37.4
Monolithic Powerbenef2+35.5-27.8+79.8-5.6+54.5+35.5
Analog Devicesbenef2+21-4.9+23.4+8.8+29.8+34.8
GlobalFoundriesbenef2·-17.1+12.5-29.2-18.6+29.7
Eoptolinkbenef2-10.1-27.7+136.6+197+368.8+29.1
Sumitomo Electricbenef2+11.4+6.3+30.8+52.9+139+28.3
InnoLightbenef2-30.7-18.3+253.7+12+468.1+25.6
United Rentalsbenef2+43.3+7+63.6+24+15.9+25.5
Digital Realtybenef2+30.7-41+39.9+35.9-10.1+23.4
Amphenolbenef2+34.4-12.5+30.8+40.7+95.3+22.7
ABBbenef2+23.9+7.3+18.9+39+36.1+18.4
Applebenef2+34.6-26.4+49+30.7+9.1+18
Camecobenef2+63.2+4.3+90.5+19.5+78.4+10.1
Chubb Limitedbenef2+27.8+16+4.2+23.9+13.7+10.1
BlackRockbenef2+29.4-20.4+17.9+29.3+6.6+6
Luxshare Precisionbenef2-11.9-30.2-21.2+58.8+29.3+5.6
Duke Energy Corporationbenef2+19.1+2-1.6+15.6+12.7+5.3
Salesforce, Inc.benef2+14.2-47.8+98.5+27.8-20.2-1.6
Nikonbenef2+46.2+10.9+23.1+13.7+19.7-2.4
FANUCbenef2-16.5+4.4-8.1+15.6+37.7-4.5
Hoya Corporationbenef2+10.8-3+34.4+11.3+24.9-6.1
King Yuan Electronics (KYEC)benef2+26.7-7.7+132.4+38.6+171-6.7
TE Connectivitybenef2+35.1-27.7+24.6+3.5+61.1-7.3
Workday, Inc.benef2+14-38.7+65-6.5-16.8-8.8
Recursion Pharmaceuticalsbenef2·-55+27.9-31.4-39.5-11.2
Phison Electronicsbenef2+26.8-10.7+45.1-6.7+418.3-14.7
Mobileyebenef2··+23.6-54-47.6-18
BYD Electronicsbenef2-56.1+16-0.4+60.6-19.4-24.1
Rigetti Computingbenef2·-92.9+35.1+1449.2+45.2-31.4
D-Wave Quantumbenef2·-85.3-38.9+854.5+211.3-36.6
UBTech Roboticsbenef2···-21.6+95.4-38.8
Oklobenef2·+0.7+6.5+101+238-42.5

YTD as of 2026-09-04 · source: Yahoo Finance

Microsoft operates across Cloud, AI infrastructure, In-house silicon. It is +4% in 2026. The supply side (avg +95.8%) has moved harder than the stock (+4%). 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 Nebius Group (+170.5%) and the furthest behind is Costco Wholesale (+6.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. As Nvidia’s largest GPU buyer, plus AMD, TSMC and its own Maia silicon, it is a key demand sink for AI chips.

Analysis generated from returns as of 2026-09-04

Analyst ratings

Consensus: Buy 4 · Hold 1 · Sell 0 · Avg. target $578 · Price $499.7 (09-04) · Upside +16%

BrokerRatingTargetPublished
Stifel Nicolaus · Brad RebackHold$400Jun 25, 2026Report ↗
Bernstein · Mark MoerdlerBuy$646Jun 11, 2026Report ↗
Citigroup · Tyler RadkeBuy$620Jun 5, 2026Report ↗
Wells Fargo · Michael TurrinOverweight$650Jun 1, 2026Report ↗
Wedbush · Dan IvesOutperform$575May 13, 2026Report ↗

Stays cautious on full valuation and heavy AI capex intensity; at $400 it is the most conservative target among major-broker coverage.

Analyses covering this node

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For information only, not investment advice. Content on this site is generated by AI from verified, cross-checked sources and may contain errors.

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