The benchmark · updated live

The AI Value-Chain Index.

The public companies most central to the AI supply chain — weighted by where they sit in the chain, not just how big they are. Transparent, rules-based, and rebalanced on every model revision.

The weekly report reads this index · research, not advice

01The index today

Constituents

Market cap represented

$34.8T

Top weight

12%

Concentration

diversified

HHI 532

1NVIDIANVDA12%
2TSMCTSM7.7%
3Alphabet (Google)GOOGL7.3%
4SK hynix000660.KS5.4%
5Samsung Electronics005930.KS5.2%
6MicrosoftMSFT5.2%
7AmazonAMZN5.1%
8AppleAAPL4.6%
9BroadcomAVGO4.3%
10MicronMU4.2%
11ASMLASML4%
12AMDAMD3.9%
13MetaMETA3.3%
14Applied MaterialsAMAT3%
15TeslaTSLA2.8%
16Lam ResearchLRCX2.8%
17Oracle CorporationORCL2.6%
18IntelINTC2.5%
19CiscoCSCO2.4%
20GE VernovaGEV2.2%
21Tokyo Electron8035.T2%
22KLAKLAC1.9%
23InnoLight300308.SZ1.9%
24ArmARM1.9%
25Arista NetworksANET1.8%

Weight by chain layer

Chips74.5%

Infrastructure8.7%

Applications7.4%

Models7.3%

Energy2.2%

Method — Top 25 public AI-chain names, weighted by chain centrality × √market-cap, capped at 12% per name; rebalanced on model update. A transparent, rules-based benchmark — not an investable product, not advice.

as of 2026-07-04Medium confidence Structural weights + market caps

01bThe AI Power Rankings

The index weighs the AI economy; the standings call the race. Every name ranked by the conviction engine's live read of the chain — who owns the bottlenecks, whose chain is firing, who the price hasn't caught. Risers, fallers and new entrants move nightly.

Ranked by chain conviction · not by sizeas of 2026-07-18

Standings move nightly as the chain moves.See all 835 verdicts

02How it's built

Chain-weighted, not just cap-weighted

Each name’s weight starts from its structural centrality — exposure intensity × node relevance × role in the chain — then tilts by √market-cap so investable size matters without letting mega-caps drown out structure.

Capped and rebalanced

No single name exceeds 12%; the overflow is redistributed proportionally. The basket rebalances on every model revision, and the methodology never changes silently.

Honest by construction

We publish the constituents, their weights, the market cap represented and the concentration — no invented price level, no back-tested track record. A benchmark, never advice.

Model 0.7.0 · caps as of 2026-07-04

03Embed the index

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Trace any weight to the chain.

The index is the headline. Inside, see exactly why each name is weighted where it is — the bottlenecks it owns, the constraints it rides, and where the squeeze moves next.

Read the weekly report

A transparent, rules-based benchmark of the AI supply chain — not an investable product and not investment advice.