Capital Flow
Follow the money. When a giant ramps spending, someone gets paid — pick a company to trace its capex, R&D and investments into the public names that benefit, and find the ideas downstream.
Alphabet's surging capex pours into AI datacenters — custom TPUs, GPUs, networking, and the power to run them.
Amazon's capex splits between AWS AI infrastructure (its own Trainium plus Nvidia) and logistics — with a big Anthropic bet.
AMD designs chips but builds none: its cost flows to TSMC for fabrication and to the HBM memory makers for AI accelerators.
ADI blends in-house fabs with TSMC — its spend reaches both the equipment makers and the foundry.
Apple's cash mostly returns to shareholders via buybacks; its product spend flows to a tight, high-quality chip supply chain led by TSMC.
Arista's switches run on merchant silicon and optics — its growth is demand for those suppliers.
Every Boeing jet pulls in engines, avionics and structures from a concentrated supplier base.
Chevron's drilling program is recurring revenue for the big oilfield-services names.
Cisco's switching and Silicon One chips lean on merchant silicon, optics and the foundry.
Datadog's monitoring runs on the hyperscalers — its cost of revenue is largely an AWS bill.
Dell assembles AI servers — its bill of materials flows straight through to the chip and memory makers.
Lilly is spending billions to scale GLP-1 production — flowing to delivery-device, fill-finish and contract-manufacturing suppliers.
Exxon's capex flows to the oilfield-services firms that drill its wells and build its projects.
Ford's EV ramp flows to battery makers, lithium and automotive chips.
GM's EV push pulls in battery cells, lithium and the chips behind software-defined cars.
HPE's AI and server systems pass their bill of materials straight to the chip and memory makers.
Intel's fab expansion is a direct order book for the chip-equipment makers — while it also outsources some leading-edge tiles to TSMC.
J&J's pharma and device units rely on bioprocessing and contract-manufacturing suppliers.
Merck's Keytruda and vaccine franchises lean on bioprocessing and fill-finish partners.
Meta is spending heavily on the largest AI training clusters in the world to power Llama and ranking — almost entirely Nvidia today.
Micron's memory-fab buildout is a direct order book for the chip-equipment makers.
Microsoft's record capex builds Azure AI capacity for OpenAI and enterprise — silicon, networking, and even nuclear power.
NextEra's renewables capex flows to solar-panel, turbine and grid-equipment makers.
Novo's Wegovy/Ozempic ramp pulls in delivery-device and fill-finish suppliers as it races to add capacity.
Nvidia is the beneficiary of everyone else's capex — but it spends too: most of its cost flows to TSMC for fabrication and to memory makers for HBM.
Oracle's capex is exploding as it builds OCI capacity for AI customers — heavily Nvidia, with networking and power alongside.
Pfizer's pipeline and vaccines pull in bioprocessing, fill-finish and lab suppliers.
Salesforce blends its own data centers with hyperscaler capacity and AI silicon.
Snowflake runs entirely on the hyperscalers — its growth is spend flowing straight to AWS, Azure and GCP.
Super Micro's rapid AI-server growth converts almost directly into demand for GPUs, accelerators and memory.
Tesla's capex builds factories and battery capacity, with a growing slice going to AI compute for autonomy.
TI is building 300mm analog fabs in-house — capex that flows straight to the equipment makers.
TSMC's record capex is the order book for the handful of companies that actually build chip fabs — the semiconductor-equipment makers.
Curated capital-flow maps for marquee names — sourced from filings and public reporting, for idea generation, not investment advice. Want your favorite company added? Open a PR on GitHub.