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AI infrastructure stock map

The AI build-out runs through six layers. Money flows from the cloud giants at the bottom up through every supplier above.

1. Layer 1

   Chips & accelerators

   Design the GPUs and custom chips that train and run AI models.

   Connects: Hyperscalers buy them; memory and foundries supply them.

   Nvidia · NVDAAMD · AMDBroadcom · AVGOTSMC · TSMASML · ASML

2. Layer 2

   Memory

   High-bandwidth memory sits next to every AI chip.

   Connects: Supplies Nvidia and AMD accelerators.

   Micron · MUWestern Digital · WDCSeagate · STX

3. Layer 3

   Networking

   Links thousands of chips into one cluster.

   Connects: Sold into data centres alongside the chips.

   Arista · ANETMarvell · MRVLCisco · CSCOCiena · CIENCoherent · COHR

4. Layer 4

   Power

   AI data centres need huge, steady electricity.

   Connects: Grid and generation for data centres.

   GE Vernova · GEVConstellation · CEGVistra · VSTEaton · ETN

5. Layer 5

   Cooling

   Removes the heat dense AI racks produce.

   Connects: Built into every new data centre.

   Vertiv · VRTTrane · TTModine · MOD

6. Layer 6

   Data centres & cloud

   Own the buildings and rent out the compute.

   Connects: The end buyers of everything above.

   Microsoft · MSFTAlphabet · GOOGLAmazon · AMZNMeta · METAOracle · ORCLEquinix · EQIX

Live prices by layer

Market data via TradingView; some prices may be delayed. Not a recommendation to buy or sell.