{"slug":"te-connectivity","name":"TE Connectivity","name_en":"TE Connectivity","ticker":"TEL","updated_at":"2026-07-12T04:01:01.820929+00:00","canonical":"https://valuechain.wiki/te-connectivity","same_as":["https://finance.yahoo.com/quote/TEL","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1385157"],"citable":"밸류체인 그래프 기준 TE Connectivity의 직접 연결 기업은 2곳(관계 기준 공급 0·매출 2)이고, 사슬을 2차까지 넓히면 37곳에 닿는다. 링크의 근거 출처는 4건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, TE Connectivity is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 37 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"S&P 500 · 커넥터 · AI 서버 2위","kicker_en":"S&P 500 · connectors · AI server No.2","lead":"세계 최대 전기 커넥터 기업이자 AI 데이터센터 고속 인터커넥트에서 앰페놀에 이은 2위로, 랙 안의 데이터가 구리를 벗어나기 전까지 구조적 수요를 쥔다. NVLink 백업 공급사이자 DAC/AEC(액티브 구리 케이블) 생산자로 800G AEC를 공급하며, 사상 최대 수주 51억 달러(book-to-bill 1.10)가 데이터·네트워크 부문 성장을 증명한다. 데이터·네트워크와 에너지가 향후 5년 산업 성장의 3분의 2를 차지해, 성장의 무게가 산업·운송에서 AI 인프라로 이동한다.","lead_en":"The world's largest electrical-connector maker and No.2 (behind Amphenol) in AI-datacenter high-speed interconnect, holding structural demand for as long as rack data stays on copper. As an NVLink backup supplier and a maker of DAC/AEC (active copper cables) it ships 800G AEC, and record orders of $5.1B (book-to-bill 1.10) prove the Data & Networks segment's growth. Data & Networks and Energy make up two-thirds of the industry's next five years of growth, shifting the center of gravity from industrial/transport to AI infrastructure.","segments":{"parts":[{"desc":"AI 서버용 커넥터·구리 케이블(DAC/AEC). NVLink 백업·800G AEC로 성장하는 최대 축으로, 랙 내 고속 인터커넥트 수요에 직결.","name":"데이터·네트워크(AI 커넥터)"},{"desc":"산업·운송용 커넥터. 자동차·공장 등 전통 수요 기반으로, 성장의 무게가 데이터·네트워크로 이동 중.","name":"산업·운송"}],"total":"수주 $5.1B(B/B 1.10)","concentration":"커넥터 세계 1위. NVLink 백업·800G AEC."},"segments_en":{"parts":[{"desc":"Connectors and copper cables (DAC/AEC) for AI servers — the top growth axis via NVLink backup and 800G AEC, tied to rack high-speed interconnect demand.","name":"Data & networks (AI connectors)"},{"desc":"Industrial and transport connectors — the traditional demand base (autos, factories) as the growth weight shifts toward Data & Networks.","name":"Industrial/transport"}],"total":"$5.1B orders (1.10 B/B)","concentration":"No.1 connectors; NVLink backup, 800G AEC."},"returns_yearly":{"2021":35.1,"2022":-27.7,"2023":24.6,"2024":3.5,"2025":61.1,"2026":-11.3},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"nebius","name":"Nebius","name_en":"Nebius Group","tier":3,"returns_yearly":{"2025":202.2,"2026":162.4}},{"slug":"datadog","name":"Datadog","name_en":"Datadog","tier":3,"returns_yearly":{"2021":80.9,"2022":-58.7,"2023":65.1,"2024":17.7,"2025":-4.8,"2026":89.4}},{"slug":"palo-alto-networks","name":"팔로알토 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2를 차지해, 성장의 무게가 산업·운송에서 AI 인프라로 옮겨간다.","analysis_en":"The thesis is how far TE can grow its No.2 (behind Amphenol) position in AI-datacenter connectors and cables. Record orders of $5.1B (book-to-bill 1.10) and Data & Networks growth come from NVLink backup supply and 800G AEC (active copper cable) adoption — structural demand for as long as rack interconnect stays on copper. But as the 2026 stock pullback shows, customer (NVIDIA, Foxconn) volume expectations are already substantially priced in, so the pace of earnings realization is what matters. Data & Networks and Energy make up two-thirds of the industry's next five years of growth, shifting the weight from industrial/transport to AI infrastructure.","analysis_asof":"2026-07-09"},"edges":[{"direction":"revenue","counterparty":"서버 ODM·산업·운송 (커넥터)","counterparty_slug":null,"confidence":"high","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"서버 ODM·산업·운송에 커넥터·케이블을 공급 — 데이터센터 외 전통 수요축. 성장은 AI 인프라로 옮겨가지만 자동차·공장 커넥터가 실적의 베이스를 받친다.","note_en":"Supplies connectors and cables to server ODMs, industry and transport — the traditional demand axis beyond datacenters; growth shifts to AI infrastructure, but auto and factory connectors underpin the earnings base.","sources":[{"stance":"confirms","publisher":"Seeking Alpha","publisher_en":"Seeking Alpha","kind":"research","lang":"en","published_at":"2026-01-01","url":"https://seekingalpha.com/article/4909560-te-connectivity-stock-growth-boosted-by-data-centers-but-fairly-valued","title":"TE Connectivity, 데이터센터로 성장","title_en":"TE Connectivity growth boosted by data centers","excerpt":"데이터·네트워크가 산업 성장의 2/3.","excerpt_en":"Data networks two-thirds of industrial growth."},{"stance":"confirms","publisher":"TE Connectivity","publisher_en":"TE Connectivity","kind":"filing","lang":"en","published_at":"2025-10-29","url":"https://investors.te.com/","title":"TE Connectivity 회사·IR(NYSE)","title_en":"TE Connectivity company/IR (NYSE)","excerpt":"데이터·네트워크가 산업 성장의 2/3.","excerpt_en":"Data networks two-thirds of industrial growth."}]},{"direction":"revenue","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"mid","metric":null,"note":"엔비디아 NVLink 백업·DAC/AEC 구리 케이블 공급(800G AEC).","note_en":"Supplies NVLink backup and DAC/AEC copper cables to NVIDIA (800G AEC).","sources":[{"stance":"confirms","publisher":"Fintool","publisher_en":"Fintool","kind":"news","lang":"en","published_at":"2026-01-01","url":"https://fintool.com/news/te-connectivity-record-orders-ai-surge","title":"TE Connectivity, AI 붐에 사상 최대 수주 $5.1B","title_en":"TE Connectivity posts record $5.1B orders on AI surge","excerpt":"엔비디아 NVLink 백업·DAC/AEC 구리 케이블 공급(800G AEC).","excerpt_en":"Supplies NVLink backup and DAC/AEC copper cables to NVIDIA (800G AEC)."},{"stance":"confirms","publisher":"TE Connectivity","publisher_en":"TE Connectivity","kind":"filing","lang":"en","published_at":"2025-10-29","url":"https://investors.te.com/","title":"TE Connectivity 회사·IR(NYSE)","title_en":"TE Connectivity company/IR (NYSE)","excerpt":"엔비디아 NVLink 백업·DAC/AEC 구리 케이블 공급(800G AEC).","excerpt_en":"Supplies NVLink backup and DAC/AEC copper cables to NVIDIA (800G AEC)."}]},{"direction":"revenue","counterparty":"Foxconn","counterparty_slug":"foxconn","confidence":"mid","metric":null,"note":"서버 ODM에 커넥터·DAC 공급.","note_en":"Connectors/DAC to server ODMs.","sources":[{"stance":"confirms","publisher":"TE Connectivity","publisher_en":"TE Connectivity","kind":"filing","lang":"en","published_at":"2025-10-29","url":"https://investors.te.com/","title":"TE Connectivity 회사·IR(NYSE)","title_en":"TE Connectivity company/IR (NYSE)","excerpt":"서버 ODM에 커넥터·DAC 공급.","excerpt_en":"Connectors/DAC to server ODMs."}]},{"direction":"cost","counterparty":"제조·증설 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"커넥터·케이블 생산설비와 AEC/DAC 증설 투자. 800G·고속 케이블 수요를 소화하기 위한 캐파 확충이 원가·리드타임을 좌우(비공개).","note_en":"Capex in connector/cable production and AEC/DAC expansion — capacity build-out to absorb 800G high-speed-cable demand, governing cost and lead times (undisclosed).","sources":[{"stance":"confirms","publisher":"TE Connectivity","publisher_en":"TE Connectivity","kind":"ir","lang":"en","published_at":"2026-01-01","url":"https://www.te.com/en/about-te.html","title":"TE Connectivity","title_en":"TE Connectivity","excerpt":"커넥터·케이블 제조·증설.","excerpt_en":"Connector/cable manufacturing and capacity."}]},{"direction":"cost","counterparty":"구리·소재·제조 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"구리·정밀 소재 매입이 원가의 축. 구리 가격과 정밀 가공 수율이 마진을 가르며, AEC 등 구리 케이블 비중이 커질수록 금속가 노출이 늘어난다(공급선 비공개).","note_en":"Purchases of copper and precision materials are the cost core — copper prices and precision-machining yields decide margins, and metal exposure grows as copper cables like AEC take a larger share (suppliers undisclosed).","sources":[{"stance":"confirms","publisher":"TE Connectivity","publisher_en":"TE Connectivity","kind":"filing","lang":"en","published_at":"2025-10-29","url":"https://investors.te.com/","title":"TE Connectivity 회사·IR(NYSE)","title_en":"TE Connectivity company/IR (NYSE)","excerpt":"커넥터·케이블 제조.","excerpt_en":"Makes connectors and cables."}]}]}