Capex Chains: where the money actually lands
12 maps tracing a spending theme through the companies that capture it, layer by layer, with every company's share estimated from its own reported revenue. Descriptive supply-chain research, not forecasts.
Where the commercial space build-out money lands
Tracing the capital flowing through the commercial space economy, from rocket launches and satellite manufacturing down to direct-to-device orbital communications. Descriptive, not a…
8 companies mapped · cut 24 Aug 2026
Where the grid rebuild money lands
Tracing the US electric grid overhaul from foundational heavy electrical equipment down to the utilities delivering power to surging AI data centers. Descriptive, not a forecast.
11 companies mapped · cut 16 Aug 2026
Where hyperscaler capex actually lands
Every AI-datacenter dollar the hyperscalers spend is captured somewhere along a chain of suppliers. This map shows the realized split — each layer's and each company's share of the…
19 companies mapped · cut 18 Jul 2026
The power build-out behind the AI boom
AI datacenters and electrification are colliding with a grid that took decades to build. This map shows where the power-build dollar has already landed — each layer's and each company's…
14 companies mapped · cut 18 Jul 2026
Where the defense budget flows
From appropriations to the primes to the sub-tier suppliers who actually build the hardware. This map shows where the defense dollar has already landed — each layer's and each company's…
13 companies mapped · cut 18 Jul 2026
The reshoring factory build-out
Incentives to equipment to automation to the electricians. This map shows where the money rebuilding US manufacturing has already landed — each layer's and each company's share of the…
15 companies mapped · cut 18 Jul 2026
The EV & battery chain
From the vehicle down to the cell chemistry and the rock it starts as — this map shows where the EV dollar has already landed: each layer's and each company's share of the EV-and-battery…
15 companies mapped · cut 18 Jul 2026
The robotics & automation wave
As labour costs and reshoring push factories to automate, this map shows where the automation dollar has already landed — each layer's and each company's share of the automation revenue the…
13 companies mapped · cut 18 Jul 2026
Who actually builds the chip factories
Every AI chip starts in a fab full of machines. This map shows where the wafer-fab-equipment dollar has already landed — each layer's and each company's share of the tool revenue the chain…
10 companies mapped · cut 18 Jul 2026
Where the security budget lands
Security spend is one of the last budgets a CISO cuts. This map shows where the cyber dollar has already landed — each layer's and each company's share of the security revenue the chain…
13 companies mapped · cut 18 Jul 2026
The flow of a digital payment
Follow a single swipe or tap. This map shows where the payments dollar has already landed — each layer's and each company's share of the payment revenue the chain captures today: the…
11 companies mapped · cut 18 Jul 2026
Where the obesity-drug dollar lands
The GLP-1 wave is one of the fastest-growing markets in pharma history. This map shows where the obesity-drug dollar has already landed — each layer's and each company's share of the GLP-1…
10 companies mapped · cut 18 Jul 2026Photography by Michael Mwangi, Ernest Brillo, Winston Chen, Zoshua Colah, Lincoln Holley, Lalit Kumar, Newpowa, Testalize.me, TECNIC Bioprocess Solutions, Albert Stoynov, Towfiqu barbhuiya, Melany @ tuinfosalud.com on Unsplash.
How to read a chain map
Each map starts from a pool of spending and follows it down the chain: who sells the picks and shovels, who assembles, who operates, who bills the end customer. A company appearing high in a chain is not automatically the better business — it is simply closer to the money. Every company links through to its full breakdown, and the estimate method is published on each map.
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