# If First Solar moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/first-solar · Facet: ripple · Updated: 2026-09-24T12:55:59.098923+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, First Solar is directly linked to 3 companies (2 supply, 1 revenue relationships) and reaches 11 companies within two hops; the links are backed by 7 dated sources, 2 of them primary filings (as of 2026-09-24).

First Solar operates across CdTe thin-film solar. After +48.2% in 2025, it corrected -21.7% in 2026. The supply side (avg +21.3%) has moved harder than the stock (-21.7%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Air Liquide (+21.3%) and the furthest behind is NextEra Energy (+6.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It has also acquired a perovskite developer to advance tandem-module technology.

## Demand chain (leading)
- T1 NextEra Energy (https://valuechain.wiki/nextera-energy.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)
- 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 Walmart Inc (https://valuechain.wiki/walmart.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 Uber (https://valuechain.wiki/uber.md)
- T3 Costco Wholesale (https://valuechain.wiki/costco.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 Stryker Corporation (https://valuechain.wiki/stryker.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 The Kraft Heinz Company (https://valuechain.wiki/kraft-heinz.md)
- T3 Ingersoll Rand Inc. (https://valuechain.wiki/ingersoll-rand.md)
- T2 FirstEnergy (https://valuechain.wiki/firstenergy.md)
- T2 Entergy (https://valuechain.wiki/entergy.md)
- T3 Amazon (https://valuechain.wiki/amazon.md)
- T2 Xcel Energy (https://valuechain.wiki/xcel-energy.md)
- T2 WEC Energy Group (https://valuechain.wiki/wec-energy-group.md)
- T3 Microsoft (https://valuechain.wiki/microsoft.md)
- T2 Eversource Energy (https://valuechain.wiki/eversource-energy.md)

## Supply chain (benefiting)
- T1 Air Liquide (https://valuechain.wiki/air-liquide.md)
- T1 FirstEnergy (https://valuechain.wiki/firstenergy.md)
- T2 Constellation Energy (https://valuechain.wiki/constellation-energy.md)
- T3 Cameco (https://valuechain.wiki/cameco.md)
- T2 NextEra Energy (https://valuechain.wiki/nextera-energy.md)
- T3 Williams Companies (https://valuechain.wiki/williams.md)
- T3 Quanta Services (https://valuechain.wiki/quanta-services.md)
- T3 GE Vernova (https://valuechain.wiki/ge-vernova.md)
- T2 Brookfield Asset Management Ltd. (https://valuechain.wiki/brookfield.md)
- T3 Duke Energy Corporation (https://valuechain.wiki/duke-energy.md)

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Full node: https://valuechain.wiki/first-solar.md · JSON: https://valuechain.wiki/first-solar.json