MARKETS
Markets
Equities, read through the supply chain
UNITED STATESJudgement
The best-supplied, most transparent market
Where the GPUs come fromNVIDIA’s newest generation arrives here first and in the largest volume.
How prices are setThe most transparent rental prices, with public price lists and rental indices.
Main bottleneckPower and grid interconnection.
United States overview →Prices: Hyperliquid perpetuals (not yet connected)
| Ticker | Company | Exchange | Layer | Price | 30 days | |
|---|---|---|---|---|---|---|
| CRWV | CoreWeave | NASDAQ | Cloud & compute | — | — | Details → |
| MU | Micron | NASDAQ | Memory | — | — | Details → |
| NVDA | NVIDIA | NASDAQ | Chips | — | — | Details → |
| ORCL | Oracle | NYSE | Cloud & compute | — | — | Details → |
| VRT | Vertiv | NYSE | Data centers | — | — | Details → |
MAINLAND CHINAJudgement
A separate supply system under export controls
Where the GPUs come fromUnder export controls: domestic accelerators and compliant export variants.
How prices are setOpaque rental prices; model makers’ price wars push token prices down.
Main bottleneckChips and HBM.
Mainland China overview →Prices: A-share / HK data source to be decided
| Ticker | Company | Exchange | Layer | Price | 30 days | |
|---|---|---|---|---|---|---|
| 000977 | Inspur | SZSE | Servers | — | — | Details → |
| 0700 | Tencent | HKEX | Cloud & models | — | — | Details → |
| 300308 | Innolight | SZSE ChiNext | Optical modules | — | — | Details → |
| 688041 | Hygon | SSE STAR | Chips | — | — | Details → |
| 688256 | Cambricon | SSE STAR | Chips | — | — | Details → |
SOUTHEAST ASIAJudgement
Data centers built for overseas customers
Where the GPUs come fromUS GPUs are available, subject to re-export checks.
How prices are setMostly serving overseas customers, priced on colocation and term contracts.
Main bottleneckPower, water and policy (Malaysia, Singapore, Thailand).
Southeast Asia overview →Prices: SGX / Bursa data source to be decided
| Ticker | Company | Exchange | Layer | Price | 30 days | |
|---|---|---|---|---|---|---|
| 6742 | YTL Power | Bursa Malaysia | Power & data centers | — | — | Details → |
| AJBU | Keppel DC REIT | SGX | Data centers | — | — | Details → |
| DCRU | Digital Core REIT | SGX | Data centers | — | — | Details → |
TAIWAN AND KOREAJudgement
The top of the chain: wafers, packaging and HBM
Where the GPUs come fromTSMC makes the chips and advanced packaging; SK hynix and Samsung supply HBM.
How prices are setWafers sold per wafer, HBM on contract prices; pricing power sits with a few firms.
Main bottleneckCoWoS packaging and HBM capacity.
Taiwan & Korea overview →Prices: TWSE / KRX data source to be decided
| Ticker | Company | Exchange | Layer | Price | 30 days | |
|---|---|---|---|---|---|---|
| 000660 | SK hynix | KRX | Memory | — | — | Details → |
| 005930 | Samsung Electronics | KRX | Memory | — | — | Details → |
| 2317 | Hon Hai (Foxconn) | TWSE | Server ODM | — | — | Details → |
| 2330 | TSMC | TWSE | Foundry | — | — | Details → |
| 2382 | Quanta | TWSE | Server ODM | — | — | Details → |