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Thesis Equities

AI Supply Chain

Physical infrastructure powering artificial intelligence

Reference data from industry roadmaps — updated periodically

AI Supply Chain Stress Index (ASCSI)

<40 Low 40-70 Elevated >70 Critical
Semi Cap Utilization (FRED)
--
CAPUTLG3344S
AI Semi Market Cap
--
0 companies tracked
Active Disruptions
0
semiconductor / data-center
Fab Expansion Projects
12
TSMC, Samsung, Intel

Concentration Risk Scorecard

LayerDominant SupplierShareHHIRisk
EUV LithographyASML100%10,000
Advanced PackagingTSM, ASX~95%9,025
FabricationTSM, INTC~90%8,100
EDA & DesignSNPS, CDNS, ARM~55%5,000
Server / Rack IntegrationNVDA, AMD, SMCI, DELL~70%5,000
Memory / HBMMU~50%4,100

HHI (Herfindahl-Hirschman Index): >2500 = highly concentrated. Single points of failure highlighted.Run cascade simulation →

AI Hardware Stack

EDA & Design

Electronic design automation tools and chip architecture IP. Synopsys and Cadence duopoly; Arm licenses cores used in most mobile and growing DC silicon.

Lead
12w
Util
75%
Fabrication

Leading-edge semiconductor manufacturing. TSMC controls ~90% of advanced node (<7nm) production. Intel Foundry and Samsung compete but trail in yield and volume.

Lead
26w
Util
95%
Advanced Packaging

2.5D/3D chip packaging including TSMC CoWoS and InFO. CoWoS is THE bottleneck for AI accelerators — every H100/B200 requires a CoWoS interposer.

Lead
20w
Util
98%
Memory / HBM

High Bandwidth Memory stacking for AI GPUs. SK Hynix leads HBM3e supply (~50% share), Micron ramping, Samsung catching up. Capacity constrained through 2025.

Lead
22w
Util
92%
Networking & Photonics

High-speed optical transceivers, switches, and interconnects for GPU clusters. 800G→1.6T transition driving demand for pluggable and CPO solutions.

Lead
14w
Util
85%
Server / Rack Integration

GPU server assembly, liquid cooling, and rack-scale systems. Supermicro, Dell, and hyperscaler ODMs compete on density and thermal management.

Lead
10w
Util
88%
Data Center Facility

Physical data center construction and power delivery. Hyperscalers (MSFT, GOOGL, AMZN, META) building at unprecedented scale; power availability is the binding constraint.

Lead
52w
Util
70%

Data Centers

Hyperscaler capex, GPU shipments, and power demand

View Data Centers →

Supply Chains

17 commodity chains with cascade simulation

View Supply Chains →

Rare Earths

Critical minerals for magnets, electronics, and defense

View Rare Earths →

Methodology & Data Sources

Supply chain layer structure, bottleneck assessments, lead times, and capacity utilization estimates are reference data compiled from industry reports (SIA, SEMI, public filings). GPU specs from NVIDIA datasheets. TSMC node data from public earnings calls and roadmap presentations.

Live overlays: Equity prices (Yahoo Finance, 5min via cron/equities), FRED macro series (daily via cron/fred), Disruptions (AI-classified from news, every 4h). Trade flow data from UN Comtrade.

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