# If AT&S moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/at-s · Facet: ripple · Updated: 2026-07-12T08:22:44.684+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, AT&S is directly linked to 4 companies (2 supply, 2 revenue relationships) and reaches 15 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).

AT&S operates across High-end IC substrates (HBM, 3D). It surged +188.9% in 2025 and +334.1% in 2026. The stock (+334.1%) is ahead of both its demand side (avg +141.3%) and supply side (avg +60.7%). Having run ahead of its chain, it is the first spot to give back if customer numbers fail to follow. Among connected nodes the furthest ahead is Intel (+159.6%) and the furthest behind is Ajinomoto (+47.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. An Austrian maker of high-end IC substrates/FC-BGA (~10% share), specialized in HBM and 3D-IC advanced packaging for AMD and Intel.

## Demand chain (leading)
- T1 AMD (https://valuechain.wiki/amd.md)
- T2 Microsoft (https://valuechain.wiki/microsoft.md)
- T3 OpenAI (https://valuechain.wiki/openai.md)
- T3 Snowflake (https://valuechain.wiki/snowflake.md)
- T3 ServiceNow (https://valuechain.wiki/servicenow.md)
- T3 Walmart Inc (https://valuechain.wiki/walmart.md)
- T3 Starbucks Corp (https://valuechain.wiki/starbucks.md)
- T3 Costco Wholesale (https://valuechain.wiki/costco.md)
- T3 Johnson Controls (https://valuechain.wiki/johnson-controls.md)
- T3 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T3 Accenture plc (https://valuechain.wiki/accenture.md)
- T3 Stryker Corporation (https://valuechain.wiki/stryker.md)
- T3 Adobe Inc. (https://valuechain.wiki/adobe.md)
- T3 3M Company (https://valuechain.wiki/3m.md)
- T3 Illinois Tool Works Inc. (https://valuechain.wiki/illinois-tool-works.md)
- T3 Boston Scientific Corporation (https://valuechain.wiki/boston-scientific.md)
- T3 Autodesk, Inc. (https://valuechain.wiki/autodesk.md)
- T3 Rockwell Automation, Inc. (https://valuechain.wiki/rockwell-automation.md)
- T3 Take-Two Interactive Software, Inc. (https://valuechain.wiki/take-two-interactive.md)
- T3 Roper Technologies (https://valuechain.wiki/roper-technologies.md)
- T3 Kenvue Inc. (https://valuechain.wiki/kenvue.md)
- T3 Axon Enterprise, Inc. (https://valuechain.wiki/axon-enterprise.md)
- T3 The Kraft Heinz Company (https://valuechain.wiki/kraft-heinz.md)
- T3 Fiserv (https://valuechain.wiki/fiserv.md)
- T3 Otis Worldwide Corporation (https://valuechain.wiki/otis-worldwide.md)
- T3 Cognizant Technology Solutions Corporation (https://valuechain.wiki/cognizant.md)
- T3 Dover Corporation (https://valuechain.wiki/dover.md)
- T3 Veralto Corporation (https://valuechain.wiki/veralto.md)
- T3 Ralph Lauren Corporation (https://valuechain.wiki/ralph-lauren.md)
- T2 Oracle (https://valuechain.wiki/oracle.md)
- T3 Palantir Technologies (https://valuechain.wiki/palantir.md)
- T3 Uber (https://valuechain.wiki/uber.md)
- T3 Marriott International, Inc. (https://valuechain.wiki/marriott-international.md)
- T3 The Sherwin-Williams Company (https://valuechain.wiki/sherwin-williams.md)
- T3 Consolidated Edison, Inc. (https://valuechain.wiki/consolidated-edison.md)
- T2 Hewlett Packard Enterprise (https://valuechain.wiki/hpe.md)
- T2 ASUSTeK Computer (https://valuechain.wiki/asustek.md)
- T2 Meta Platforms (https://valuechain.wiki/meta.md)
- T3 Procter & Gamble (https://valuechain.wiki/procter-gamble.md)
- T3 Omnicom Group Inc. (https://valuechain.wiki/omnicom-group.md)
- T1 Intel (https://valuechain.wiki/intel.md)
- T2 Lenovo (https://valuechain.wiki/lenovo.md)
- T3 Waters Corporation (https://valuechain.wiki/waters.md)
- T2 Dell Technologies (https://valuechain.wiki/dell.md)
- T3 IREN (https://valuechain.wiki/iren.md)
- T2 HP Inc. (https://valuechain.wiki/hp.md)
- T2 Alphabet (Google) (https://valuechain.wiki/alphabet.md)
- T3 Anthropic (https://valuechain.wiki/anthropic.md)
- T3 Planet Labs (https://valuechain.wiki/planet-labs.md)
- T3 McDonald's (https://valuechain.wiki/mcdonalds.md)
- T3 MercadoLibre, Inc. (https://valuechain.wiki/mercadolibre.md)
- T3 Shopify (https://valuechain.wiki/shopify.md)
- T3 LVMH Moet Hennessy Louis Vuitton (https://valuechain.wiki/lvmh.md)
- T3 Recursion Pharmaceuticals (https://valuechain.wiki/recursion.md)
- T3 Intuit Inc. (https://valuechain.wiki/intuit.md)
- T3 Workday, Inc. (https://valuechain.wiki/workday.md)
- T3 Salesforce, Inc. (https://valuechain.wiki/salesforce.md)
- T3 Booking Holdings Inc. (https://valuechain.wiki/booking-holdings.md)
- T3 HCA Healthcare, Inc. (https://valuechain.wiki/hca-healthcare.md)
- T3 DoorDash, Inc. (https://valuechain.wiki/doordash.md)
- T3 AppLovin Corporation (https://valuechain.wiki/applovin.md)
- T3 Cintas Corporation (https://valuechain.wiki/cintas.md)
- T3 Colgate-Palmolive Company (https://valuechain.wiki/colgate-palmolive.md)
- T3 Honeywell Technologies (https://valuechain.wiki/honeywell-technologies.md)
- T3 AutoZone (https://valuechain.wiki/autozone.md)
- T3 eBay Inc. (https://valuechain.wiki/ebay.md)
- T3 Expedia Group, Inc. (https://valuechain.wiki/expedia-group.md)
- T3 Ingersoll Rand Inc. (https://valuechain.wiki/ingersoll-rand.md)
- T2 Mercury Systems (https://valuechain.wiki/mercury-systems.md)
- T3 RTX (https://valuechain.wiki/rtx.md)
- T3 Lockheed Martin (https://valuechain.wiki/lockheed-martin.md)
- T2 F5, Inc. (https://valuechain.wiki/f5.md)

## Supply chain (benefiting)
- T1 Ajinomoto (https://valuechain.wiki/ajinomoto.md)
- T1 Resonac (https://valuechain.wiki/resonac.md)

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Full node: https://valuechain.wiki/at-s.md · JSON: https://valuechain.wiki/at-s.json