Sub-layers
Each sub-layer carries a substitutability weight between 0 and 1: how hard it would be to replace the countries that supply it. A high weight sitting on a concentrated share is what makes a chokepoint.
| Sub-layer | Substitutability | Grade |
|---|---|---|
| Rack integration & ODMAssembly of accelerators, memory and networking into finished racks. Taiwan's least-visible and most complete dominance: Foxconn alone takes ~40% of AI rack assembly. | 0.80 | B |
| DC developmentSite acquisition, shell construction and operation of the buildings themselves. | 0.50 | C |
| Colocation & neocloudLeased capacity and GPU-as-a-service. Equinix, Digital Realty and NTT together hold ~30% of colocation revenue. | 0.45 | B |
| Cooling & thermalLiquid cooling, CDUs and heat rejection. Rack power density has turned this from a commodity into a constraint. | 0.65 | C |
| Construction & EPCEngineering and construction delivery, including the skilled electrical trades that are now a live bottleneck. | 0.35 | C |
Physical: where the assets sit
Ranked by installed data-centre capacity (mw) · 54 countries with a non-zero value
| # | Country | Installed data-centre capacity (MW) |
|---|---|---|
| 1 | United States | 15,659 MW B |
| 2 | China | 10,000 MW C |
| 3 | India | 1,770 MW B |
| 4 | Malaysia | 1,700 MW C |
| 5 | Ireland | 1,660 MW A |
| 6 | Japan | 1,420 MW B |
| 7 | Germany | 1,372 MW B |
| 8 | UAE | 1,360 MW C |
| 9 | United Kingdom | 1,120 MW C |
| 10 | Saudi Arabia | 900 MW C |
| 11 | Australia | 820 MW C |
| 12 | South Korea | 698 MW A |
| 13 | France | 667 MW A |
| 14 | Singapore | 650 MW C |
| 15 | Brazil | 627 MW B |
Top 15 of 54. The full ranking is in the interactive atlas.
Ownership: who books the revenue
Ranked by domiciled supplier revenue ($bn) · 9 countries with a non-zero value
| # | Country | Domiciled supplier revenue ($bn) |
|---|---|---|
| 1 | Taiwan | 397 $bn A |
| 2 | United States | 150 $bn B |
| 3 | China | 22 $bn C |
| 4 | Japan | 5 $bn C |
| 5 | United Kingdom | 3 $bn C |
| 6 | Sweden | 2 $bn B |
| 7 | Netherlands | 1 $bn C |
| 8 | Australia | 1 $bn C |
| 9 | Denmark | 0 $bn B |
Top 9 of 9. The full ranking is in the interactive atlas.
Control: who could stop you
Ranked by chokepoint score, aggregate (leader = 100) · 9 countries with a non-zero value
| # | Country | Chokepoint score, aggregate (leader = 100) |
|---|---|---|
| 1 | United States | 100 C |
| 2 | Taiwan | 68.1 C |
| 3 | China | 27.8 C |
| 4 | Japan | 12.3 C |
| 5 | United Kingdom | 5.3 C |
| 6 | Sweden | 4.8 C |
| 7 | Netherlands | 3.3 C |
| 8 | South Korea | 2.6 C |
| 9 | Singapore | 2.3 C |
Top 9 of 9. The full ranking is in the interactive atlas.
Largest suppliers
34 suppliers sit in this tier; the 20 largest by revenue are below. Revenue is the group or segment figure closest to this tier's perimeter, which is why the ownership basis is graded no better than B even where every line is filed.
| Company | Domicile | Revenue |
|---|---|---|
| Foxconn (Hon Hai) — AI rack integration~40% of AI server rack assembly. The largest single position in the tier and the least discussed. | TW | $259bn |
| Quanta Computer — AI server ODM~25–30% of AI rack assembly. | TW | $45bn |
| Wistron — AI server ODM~8–10% of AI rack assembly. | TW | $30bn |
| Dell Technologies — AI server systemsInfrastructure Solutions Group only. | US | $24bn |
| Wiwynn — Hyperscale ODMSupplies a large share of hyperscale AI server procurement directly. | TW | $20bn |
| Turner Construction — Data-centre construction | US | $20bn |
| Inventec — AI server ODM | TW | $18bn |
| AECOM — Engineering, construction | US | $16bn |
| Supermicro — AI systems | US | $15bn |
| Hewlett Packard Enterprise — AI server systems | US | $15bn |
| Delta Electronics — Thermal, power conversion | TW | $13bn |
| Pegatron — Server ODM | TW | $12bn |
| Lenovo — Server systems | CN | $12bn |
| Jacobs — Engineering | US | $12bn |
| Vertiv — Thermal, powerAlso appears in the Power & Grid tier. | US | $10bn |
| Inspur — Server systems | CN | $10bn |
| Equinix — ColocationPart of the ~30% of colocation revenue held by the top three. | US | $9bn |
| Digital Realty — Colocation | US | $6bn |
| NTT Global Data Centers — ColocationThird of the top three colocation providers. | JP | $5bn |
| CoreWeave — GPU cloudLargest of the neoclouds; heavily debt-financed against GPU collateral. | US | $5bn |