AI Value Chain US-50 · Layer Breakdown

How to Read This View

The Layer Breakdown shows how the AI Value Chain US-50 divides across three economically distinct layers. This structural view reveals where movement originates within the AI system rather than treating it as a single market.

What the Layer Breakdown Represents

AI behaves as a value chain, not a single market. Breaking the index into layers shows how movement propagates through compute infrastructure, platform services, and application deployment.

The three layers are economically distinct even though they interact. Each is influenced by different market forces, capital allocation patterns, and business cycle dynamics.

How to Read the Layer Graph

Each line represents the relative contribution of a layer to overall index movement. Contributions can rise or fall independently, and layers may move in different directions at the same time.

This is a relative view, not a measure of layer size, quality, or standalone performance. The graph shows structural influence on index movement, not absolute returns.

What "Relative Contribution" Means

Contribution reflects how much each layer influenced the index's movement during a given period. A higher contribution does not imply superiority; a lower contribution does not imply weakness.

Position contribution as directional influence, not a score. Layers contribute differently based on their structural role in the AI value chain and prevailing market conditions.

How to Read the Company Lists

Companies are grouped based on their structural role in the AI value chain. Inclusion reflects economic exposure to AI value creation, not branding or narrative positioning.

Companies may participate in AI differently depending on their layer. The lists provide transparency about index composition, not endorsement of individual companies.

Compute

Physical infrastructure enabling AI workloads

  • NVIDIA Corporation
  • Advanced Micro Devices
  • Intel Corporation
  • Taiwan Semiconductor
  • ASML Holding
  • Broadcom Inc.
  • Micron Technology
  • Arista Networks
  • Qualcomm Incorporated
  • Marvell Technology
  • Synopsys Inc.
  • Cadence Design Systems
  • GlobalFoundries
  • Super Micro Computer
  • Dell Technologies
  • Hewlett Packard Enterprise
  • ON Semiconductor

Platform

Cloud infrastructure and AI model development

  • Microsoft Corporation
  • Amazon.com Inc.
  • Alphabet Inc.
  • Meta Platforms
  • Oracle Corporation
  • Snowflake Inc.
  • Datadog Inc.
  • MongoDB Inc.
  • Palantir Technologies
  • ServiceNow Inc.
  • IBM Corporation
  • Elastic N.V.
  • Confluent Inc.
  • Twilio Inc.
  • Okta Inc.
  • Atlassian Corporation
  • GitLab Inc.
  • Cloudflare Inc.
  • Akamai Technologies

Application

Companies embedding AI into products and workflows

  • Adobe Inc.
  • Salesforce Inc.
  • Intuit Inc.
  • Shopify Inc.
  • Duolingo Inc.
  • Zoom Video Communications
  • Autodesk Inc.
  • Workday Inc.
  • HubSpot Inc.
  • DocuSign Inc.
  • Unity Software Inc.
  • UiPath Inc.
  • CrowdStrike Holdings
  • Zscaler Inc.

How This View Fits with Other ClearTake Indicators

The Layer Breakdown complements the AI Value Chain US-50 aggregate by showing internal structure. It serves as a bridge between the overall index and layer-aware indicators like the AI Bubble Index.

Use this view to understand where movement is concentrated within the AI value chain, not to draw conclusions about layer performance or future direction.

What This View Is — and Is Not

The Layer Breakdown is:

  • A structural breakdown showing where index movement originates
  • A directional influence tracker for each value chain layer
  • A transparency tool revealing index composition by economic role

The Layer Breakdown is not:

  • A performance ranking or layer comparison tool
  • Investment guidance for individual companies or layers
  • A predictor of future layer movements or relationships
  • A measure of layer size, quality, or standalone performance

This view provides structural insight into AI value chain dynamics through the lens of public market movements.

For detailed methodology, see the Methodology page.