Investment Research · Published March 23, 2026 · Updated July 9, 2026
100 Companies of the
AI / GPU Buildout
A global equity universe spanning power, packaging, memory, optics, fab tools, and compute — ranked by chokepoint exposure, current alpha, market cap, and 2026 YTD rerating.
0
Companies
41 US, 59 non-US
0
Sectors
Full supply chain
0%
Median YTD
Updated June 8
0
Median Alpha
Current audit score
Current Thesis Audit · Updated July 9, 2026
For the 100-company buildout universe, the current pass makes alpha an explicit score: chokepoint exposure must be balanced against market cap, YTD rerating, and consensus risk. The active ranking pass cross-checks the original thesis against current market prices, market cap, YTD rerating, AI 2027 compute/security assumptions, hyperscaler capex pressure, power constraints, HBM and advanced-packaging evidence, and physical-AI adoption signals.
The AI/GPU buildout is not a single trade. It's a cascading supply chain where each layer — from silicon wafers to cooling systems — creates winners and losers. This report maps 100 companies across 10 sectors to answer a simple question: where in the stack does value accrue?
01
Performance by Sector
HBM memory, optics, and advanced packaging lead YTD. Power infrastructure and compute silicon lag.
Source: Yahoo Finance chart data refreshed July 9, 2026. Median YTD return by bucket.
02
Chokepoint Score vs YTD Return
Higher chokepoint score = more supply-constrained. Bubble size = directness score.
Power
Packaging
HBM
Optics
DC Systems
Fab Tools
Board Power
Compute
EDA/Test
Storage
The scatter plot above reveals a clear pattern: companies with higher chokepoint exposure tend to outperform, but the current alpha rank now penalizes names that already moved too far or became too mega-cap consensus. The table below defaults to that audit score, then lets you sort back to price, cap, or YTD.
03
The Full Universe
99 companies
| Company | Alpha ↓ | Sector | Country | Exchange | Price | Cap | YTD % | Cases | Role |
|---|---|---|---|---|---|---|---|---|---|
Munters MTRS | #1 · 93.3 | Power | Sweden | Nasdaq Stockholm | SEK 161 | $3.3B | -16.61% | Cooling and air treatment | |
Camtek CAMT | #2 · 89.4 | Packaging | Israel | NASDAQ | USD 140 | $6.5B | +21.26% | Inspection/metrology for advanced packaging | |
Tripod Technology 3044 | #3 · 87.6 | Packaging | Taiwan | TWSE | TWD 449 | $7.8B | +43.52% | HDI PCBs and boards | |
Amkor Technology AMKR | #4 · 87.1 | Packaging | United States | NASDAQ | USD 66.91 | $16.6B | +55.89% | OSAT and packaging | |
Legrand LR | #5 · 85.6 | Power | France | Euronext Paris | EUR 143 | $42.5B | +11.95% | Electrical distribution and cabling | |
Johnson Controls JCI | #6 · 84.9 | Power | United States | NYSE | USD 140 | $85.6B | +14.65% | Building controls and cooling | |
Trane Technologies TT | #7 · 84.9 | Power | Ireland | NYSE | USD 472 | $104.4B | +18.67% | HVAC and thermal systems | |
Daikin Industries 6367 | #8 · 84.2 | Power | Japan | TSE | JPY 25,175 | $45.1B | +24.32% | HVAC and thermal systems | |
Carrier Global CARR | #9 · 81.8 | Power | United States | NYSE | USD 66.74 | $57.0B | +24.7% | HVAC and thermal systems | |
Schneider Electric SU | #10 · 80.0 | Power | France | Euronext Paris | EUR 268 | $169.7B | +13.16% | Electrical infrastructure and data-center gear | |
nVent Electric NVT | #11 · 79.6 | Power | United Kingdom/Ireland | NYSE | USD 155 | $24.8B | +44.88% | Electrical enclosures, busway, and thermal | |
Siemens SIE | #12 · 78.6 | Power | Germany | XETRA | EUR 272 | $238.3B | +12.69% | Electrical and industrial systems | |
Eaton ETN | #13 · 76.8 | Power | Ireland | NYSE | USD 400 | $155.1B | +22.07% | Power distribution and protection | |
Fabrinet FN | #14 · 76.5 | Optics | Thailand/Cayman | NYSE | USD 480 | $22.1B | +0.14% | Optical manufacturing and assembly | |
TE Connectivity TEL | #15 · 75.4 | Optics | Ireland | NYSE | USD 196 | $57.3B | -15.86% | High-speed connectors and interconnects | |
Resonac Holdings 4004 | #16 · 74.6 | Packaging | Japan | TSE | JPY 15,750 | $19.6B | +133.3% | Packaging materials and chemicals | |
Vertiv VRT | #17 · 73.8 | Power | United States | NYSE | USD 318 | $122.1B | +80.97% | Power and cooling systems | |
ABB ABBN | #18 · 73.3 | Power | Switzerland | SIX Swiss Exchange | CHF 84.68 | $196.6B | +38.28% | Electrical systems and automation | |
Entegris ENTG | #19 · 71.4 | Fab Tools | United States | NASDAQ | USD 139 | $20.7B | +54.88% | Materials and contamination control | |
ASE Technology ASX | #20 · 71.3 | Packaging | Taiwan | NYSE ADR | USD 39.93 | $87.6B | +136.83% | OSAT and advanced packaging | |
Nova NVMI | #21 · 70.8 | Fab Tools | Israel | NASDAQ | USD 452 | $14.4B | +30.13% | Metrology for semiconductor manufacturing | |
Ciena CIEN | #22 · 69.6 | Optics | United States | NYSE | USD 441 | $62.4B | +79.21% | Optical transport and networking | |
Merck KGaA MRK | #23 · 69.0 | Fab Tools | Germany | XETRA | EUR 139 | $69.8B | +14.43% | Semiconductor materials | |
Arista Networks ANET | #24 · 68.4 | Optics | United States | NYSE | USD 181 | $228.0B | +35.52% | Ethernet switches for AI clusters | |
Ibiden 4062 | #25 · 68.2 | Packaging | Japan | TSE | JPY 19,520 | $33.1B | +172.7% | Package substrates | |
Sumitomo Electric 5802 | #26 · 67.8 | Optics | Japan | TSE | JPY 2,401 | $51.5B | +43.13% | Fiber, cable, and optical components | |
Air Liquide AI | #27 · 67.1 | Fab Tools | France | Euronext Paris | EUR 174 | $126.3B | +9.22% | Industrial gases for semiconductor fabs | |
Onto Innovation ONTO | #28 · 66.8 | Fab Tools | United States | NYSE | USD 291 | $14.5B | +75.71% | Metrology and inspection | |
Amphenol APH | #29 · 65.7 | Optics | United States | NYSE | USD 158 | $194.6B | +13.25% | Interconnects and cabling | |
Credo Technology CRDO | #30 · 65.7 | Optics | Cayman Islands | NASDAQ | USD 259 | $48.2B | +80.62% | High-speed connectivity and DSP | |
Keppel BN4 | #31 · 65.4 | DC Systems | Singapore | SGX | SGD 10.87 | $15.0B | +4.82% | Data-center development and infrastructure | |
Coherent COHR | #32 · 65.2 | Optics | United States | NYSE | USD 317 | $62.0B | +63.15% | Optical components and lasers | |
GDS Holdings GDS | #33 · 64.9 | DC Systems | China | NASDAQ ADR | USD 32.82 | $6.1B | -14.4% | Data-center operator | |
Wistron 3231 | #34 · 64.6 | DC Systems | Taiwan | TWSE | TWD 145 | $15.7B | -6.77% | AI server OEM | |
Advantest 6857 | #35 · 64.3 | Fab Tools | Japan | TSE | JPY 29,160 | $131.9B | +37.71% | Semiconductor test equipment | |
Kyocera 6971 | #36 · 63.5 | Board Power | Japan | TSE | JPY 3,726 | $30.6B | +66.97% | Ceramics, substrates, and components | |
NEXTDC NXT | #37 · 63.4 | DC Systems | Australia | ASX | AUD 13.83 | $7.4B | +10.29% | Data-center operator | |
TSMC TSM | #38 · 62.6 | Packaging | Taiwan | NYSE ADR | USD 437 | $2.48T | +36.72% | Leading-edge foundry and CoWoS | |
Digital Realty DLR | #39 · 62.3 | DC Systems | United States | NYSE | USD 176 | $65.8B | +13.72% | Data-center REIT | |
Delta Electronics 2308 | #40 · 62.3 | Power | Taiwan | TWSE | TWD 1,880 | $195.1B | +88.94% | Power supplies and thermal management | |
Littelfuse LFUS | #41 · 61.5 | Board Power | United States | NASDAQ | USD 402 | $10.2B | +52.95% | Protection and power components | |
FormFactor FORM | #42 · 61.4 | Fab Tools | United States | NASDAQ | USD 112 | $8.7B | +88.53% | Probe cards and test interfaces | |
Synopsys SNPS | #43 · 60.9 | EDA/Test | United States | NASDAQ | USD 435 | $83.2B | -9.56% | EDA software and IP | |
Kulicke & Soffa KLIC | #44 · 60.7 | Fab Tools | Singapore | NASDAQ | USD 104 | $5.5B | +115.57% | Assembly and packaging equipment | |
Linde LIN | #45 · 60.7 | Fab Tools | United Kingdom/Ireland | NASDAQ | USD 528 | $246.7B | +22.97% | Industrial gases for semiconductor fabs | |
Lumentum LITE | #46 · 60.7 | Optics | United States | NASDAQ | USD 707 | $55.0B | +83.13% | Optical components and lasers | |
AT&S ATS | #47 · 60.1 | Packaging | Austria | Vienna Stock Exchange | EUR 189 | $9.0B | +476.22% | IC substrates | |
Pure Storage PSTG | #48 · 60.0 | Storage | United States | NYSE | USD 67.8 | $24.0B | -1.75% | Flash storage and data platform | |
Astera Labs ALAB | #49 · 59.2 | Optics | United States | NASDAQ | USD 393 | $67.4B | +118.96% | PCIe/CXL connectivity | |
Wiwynn 6669 | #50 · 58.8 | DC Systems | Taiwan | TWSE | TWD 5,040 | $29.2B | +12.5% | AI server OEM | |
Hon Hai Precision (Foxconn) 2317 | #51 · 58.7 | DC Systems | Taiwan | TWSE | TWD 238 | $103.2B | +2.37% | Electronics manufacturing and server assembly | |
TDK 6762 | #52 · 58.3 | Board Power | Japan | TSE | JPY 3,382 | $42.0B | +50.31% | Passives and power components | |
Quanta Computer 2382 | #53 · 57.8 | DC Systems | Taiwan | TWSE | TWD 374 | $45.2B | +34.84% | AI server OEM | |
Broadcom AVGO | #54 · 57.2 | Optics | United States | NASDAQ | USD 389 | $1.85T | +11.81% | Custom silicon and networking | |
Monolithic Power Systems MPWR | #55 · 56.7 | Board Power | United States | NASDAQ | USD 1,316 | $67.9B | +40.5% | Power management ICs | |
Samsung Electronics 005930 | #56 · 56.4 | HBM | South Korea | KOSPI | KRW 278,000 | $1.40T | +116.34% | HBM, memory, and advanced logic | |
GlobalFoundries GFS | #57 · 56.3 | Fab Tools | United States | NASDAQ | USD 67.97 | $37.3B | +84.35% | Specialty foundry capacity | |
Anritsu 6754 | #58 · 55.3 | EDA/Test | Japan | TSE | JPY 4,091 | $3.6B | +78.8% | Test and measurement | |
Tokyo Electron 8035 | #59 · 55.1 | Fab Tools | Japan | TSE | JPY 71,060 | $200.1B | +92.42% | Wafer fab equipment | |
Celestica CLS | #60 · 54.7 | DC Systems | Canada | NYSE | USD 361 | $39.7B | +19.29% | Systems manufacturing and networking hardware | |
Lam Research LRCX | #61 · 53.8 | Fab Tools | United States | NASDAQ | USD 333 | $416.6B | +80.02% | Etch/deposition equipment | |
KLA KLAC | #62 · 53.7 | Fab Tools | United States | NASDAQ | USD 221 | $288.9B | +73.55% | Inspection/metrology | |
Kinsus Interconnect 3189 | #63 · 53.0 | Packaging | Taiwan | TWSE | TWD 795 | $11.3B | +409.62% | IC substrates | |
Applied Materials AMAT | #64 · 53.0 | Fab Tools | United States | NASDAQ | USD 571 | $574.0B | +112.18% | Semiconductor equipment | |
onsemi ON | #65 · 52.5 | Board Power | United States | NASDAQ | USD 93.79 | $36.5B | +65.41% | Power semiconductors | |
Equinix EQIX | #66 · 52.5 | DC Systems | United States | NASDAQ | USD 1,016 | $100.9B | +32.96% | Colocation and data-center operator | |
SiTime SITM | #67 · 52.3 | EDA/Test | United States | NASDAQ | USD 612 | $18.3B | +65.46% | Timing chips | |
Cadence Design Systems CDNS | #68 · 52.2 | EDA/Test | United States | NASDAQ | USD 374 | $103.2B | +20.51% | EDA software | |
Accelink Technologies 002281 | #69 · 52.0 | Optics | China | Shenzhen Stock Exchange | CNY 238 | $27.0B | +236.71% | Optoelectronic chips, modules, and data-center optics | |
Unimicron 3037 | #70 · 51.7 | Packaging | Taiwan | TWSE | TWD 875 | $42.2B | +299.54% | ABF substrates and PCBs | |
Nan Ya PCB 8046 | #71 · 51.6 | Packaging | Taiwan | TWSE | TWD 1,215 | $17.0B | +412.66% | ABF substrates and PCBs | |
Teradyne TER | #72 · 51.6 | EDA/Test | United States | NASDAQ | USD 352 | $55.0B | +69.38% | Semiconductor test and robotics | |
Super Micro Computer SMCI | #73 · 50.9 | DC Systems | United States | NASDAQ | USD 28.17 | $17.6B | -9.01% | AI server platforms | |
ROHM 6963 | #74 · 50.4 | Board Power | Japan | TSE | JPY 5,556 | $14.2B | +143.95% | Power devices | |
UMC UMC | #75 · 50.4 | Fab Tools | Taiwan | NYSE ADR | USD 24.73 | $62.1B | +215.43% | Mature-node foundry capacity | |
Infineon Technologies IFX | #76 · 49.9 | Board Power | Germany | XETRA | EUR 72.32 | $118.3B | +89% | Power semiconductors | |
Keysight Technologies KEYS | #77 · 49.0 | EDA/Test | United States | NYSE | USD 317 | $54.6B | +53.56% | Test and measurement | |
Applied Optoelectronics AAOI | #78 · 48.9 | Optics | United States | NASDAQ | USD 114 | $9.2B | +188.99% | Optical transceivers and lasers | |
Micron Technology MU | #79 · 48.7 | HBM | United States | NASDAQ | USD 949 | $1.07T | +200.81% | HBM supplier | |
Murata Manufacturing 6981 | #80 · 48.6 | Board Power | Japan | TSE | JPY 9,475 | $104.0B | +184.53% | Capacitors and passive components | |
ASML Holding ASML | #81 · 46.7 | Fab Tools | Netherlands | NASDAQ | USD 1,769 | $681.9B | +51.97% | Lithography systems | |
MACOM Technology Solutions MTSI | #82 · 46.0 | EDA/Test | United States | NASDAQ | USD 305 | $23.3B | +74.46% | RF/analog and optical semis | |
Furukawa Electric 5801 | #83 · 45.1 | Optics | Japan | TSE | JPY 3,543 | $17.4B | +236.15% | Fiber, cable, and optical components | |
Vishay Intertechnology VSH | #84 · 44.7 | Board Power | United States | NYSE | USD 42.19 | $6.5B | +175.93% | Discrete power and passives | |
STMicroelectronics STM | #85 · 44.5 | Board Power | Switzerland/France | NYSE | USD 68.54 | $61.2B | +150.42% | Power semis and analog | |
NetApp NTAP | #86 · 44.1 | Storage | United States | NASDAQ | USD 165 | $32.4B | +55.35% | Enterprise storage and data management | |
SK hynix 000660 | #87 · 43.6 | HBM | South Korea | KOSPI | KRW 2,186,000 | $1.33T | +222.9% | HBM supplier | |
NVIDIA NVDA | #88 · 43.2 | Compute | United States | NASDAQ | USD 204 | $4.94T | +8.09% | GPU platform leader | |
Yageo 2327 | #89 · 42.4 | Board Power | Taiwan | TWSE | TWD 900 | $66.9B | +273.44% | Passive components | |
Flex FLEX | #90 · 40.3 | DC Systems | Singapore | NASDAQ | USD 133 | $48.9B | +109.44% | Systems manufacturing and integration | |
Silicon Motion SIMO | #91 · 40.3 | Storage | Taiwan | NASDAQ ADR | USD 313 | $10.6B | +234.15% | SSD controllers | |
Arm Holdings ARM | #92 · 37.7 | Compute | United Kingdom | NASDAQ ADR | USD 300 | $320.9B | +161.69% | CPU/IP licensing for AI servers | |
AMD AMD | #93 · 36.5 | Compute | United States | NASDAQ | USD 517 | $843.7B | +131.53% | GPU/CPU accelerator platform | |
Hengtong Optic-Electric 600487 | #94 · 35.6 | Optics | China | SSE | CNY 80.06 | $30.7B | +222.82% | Optical fiber and connectivity | |
YOFC 6869 | #95 · 35.6 | Optics | China | HKEX | HKD 160 | $38.8B | +204.96% | Optical fiber and cable | |
MaxLinear MXL | #96 · 34.0 | EDA/Test | United States | NASDAQ | USD 86.05 | $7.7B | +364.88% | Signal integrity and connectivity | |
Marvell Technology MRVL | #97 · 31.2 | Optics | United States | NASDAQ | USD 232 | $260.8B | +159.21% | Networking silicon and custom compute | |
Western Digital WDC | #98 · 29.3 | Storage | United States | NASDAQ | USD 550 | $220.2B | +193.18% | Storage hardware | |
Seagate Technology STX | #99 · 27.1 | Storage | Ireland | NASDAQ | USD 860 | $192.8B | +199.1% | Storage hardware |
How you weight exposure depends on your risk tolerance. Very conservative portfolios anchor to proven infrastructure names like TSMC and Eaton. Higher-risk baskets lean into optics, substrates, and connectivity plays where a single design win can move the stock 50%+. Below are 15 illustrative combinations across 5 risk levels.
04
Portfolio Ideas by Risk Level
Equal-weight combo baskets. Not personalized advice — illustrative starting points for further research.
Combo 1 · Equal weight
MUASXANETNVT
HBM, packaging, networking, and enclosure/power accessories across multiple constraint points.
Risk: A fast normalization in AI lead times compresses all four layers simultaneously.
Combo 2 · Equal weight
SK hynixAMKRMRVLDelta Electronics
HBM + packaging + custom/networking silicon + power supplies.
Risk: Execution risk at packaging or weaker attach rates for networking silicon.
Combo 3 · Equal weight
BroadcomIbidenSchneider ElectricNEXTDC
Platform silicon plus substrates, electrical gear, and data-center capacity.
Risk: Hyperscaler custom-silicon programs or campus pacing disappoint.
“The June 2026 tape says HBM (+237.4% median), storage/data (+200.0%), and advanced packaging (+164.0%) have already been discovered. The current alpha audit therefore keeps those theses, but moves more weight toward less-rerated power, cooling, and selected packaging bottlenecks.”
Source: Yahoo Finance chart data refreshed July 9, 2026