# Who does NVIDIA pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/nvidia · Facet: suppliers · Updated: 2026-09-24T04:08:56.112003+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: NVIDIA's confirmed suppliers/cost counterparties include Coherent, Monolithic Power, ASE테크놀로지 plus 38 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 41 cost edges, backed by 64 dated sources, 12 of them primary filings (as of 2026-09-24).

### Coherent (high)  → /coherent.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses Coherent transceivers/lasers for AI networking (co-development, $2B investment).
- [confirms] Ledesk (KO, news, published 2026-01-01) https://www.ledesk.co.kr/view.php?uid=15600: "Uses Coherent transceivers/lasers for AI networking (co-development, $2B investment)."
- [confirms] SEC EDGAR (EN, filing, published 2025-11-01) https://www.sec.gov/Archives/edgar/data/820318/000082031825000019/iivi-20250930.htm: "Uses Coherent transceivers/lasers for AI networking (co-development, $2B investment)."

### Monolithic Power (high)  → /monolithic-power.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Relies on MPWR VRM/DC-DC for GPU-board power.
- [confirms] DeepSearch (KO, news, published 2026-01-01) https://invest.deepsearch.com/stock/MPWR/: "Relies on MPWR VRM/DC-DC for GPU-board power."
- [confirms] SEC EDGAR (EN, filing, published 2025-10-30) https://www.sec.gov/Archives/edgar/data/1280452/000143774925024185/ex_815328.htm: "Relies on MPWR VRM/DC-DC for GPU-board power."

### ASE테크놀로지 (high)  → /ase.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Outsources some advanced packaging/test of its AI chips to ASE (CoWoS overflow).
- [confirms] Global Economic (KO, news, published 2025-12-09) https://www.g-enews.com/article/Global-Biz/2025/12/202512090936299708fbbec65dfb_1: "ASE absorbs TSMC CoWoS overflow."

### Synopsys (high)  → /synopsys.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses/buys EDA design tools and IP from Synopsys.
- [confirms] SemiAnalysis (EN, research, published 2025-09-01) https://newsletter.semianalysis.com/p/eda-market-primer: "Synopsys leads EDA at ~31%."
- [confirms] Seoul Economic Daily (KO, news, published 2025-07-01) https://www.sedaily.com/NewsView/2GVCJ4DVZD: "Samsung and others use Synopsys EDA."
- [confirms] SEC EDGAR (EN, filing, published 2024-12-18) https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=SNPS&type=10-K: "10-K: EDA tools/IP revenue and major chip customers."

### Cadence Design Systems (high)  → /cadence.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses/buys EDA tools and IP from Cadence Design Systems.
- [confirms] SemiAnalysis (EN, research, published 2025-09-01) https://newsletter.semianalysis.com/p/eda-market-primer: "Cadence is No.2 in EDA at ~30%."
- [confirms] Seoul Economic Daily (KO, news, published 2025-03-01) https://www.sedaily.com/article/14136879: "Cadence grows on AI-chip design."
- [confirms] SEC EDGAR (EN, filing, published 2025-02-24) https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CDNS&type=10-K: "10-K: EDA tools/IP revenue."

### Arm Holdings (high)  → /arm.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses/buys CPU-architecture IP (license and royalty) from Arm Holdings.
- [confirms] Economy6 (KO, news, published 2026-01-15) https://www.economy6.com/2026/01/arm-stock.html: "Apple, Qualcomm, Samsung, NVIDIA use ARM IP."
- [confirms] Arm IR (EN, ir, published 2024-07-01) https://investors.arm.com/static-files/219a3b28-f209-4d74-8bc6-f9e026d55a95: "FY2024 revenue $3.23B."
- [confirms] SEC EDGAR (EN, filing, published 2024-05-22) https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=ARM&type=20-F: "20-F: licensing and royalty revenue."

### 유니마이크론 (high)  → /unimicron.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses FC-BGA and IC package substrates from Unimicron.
- [confirms] Unimicron (EN, ir, published 2025-05-01) https://www.unimicron.com/en/: "Uses FC-BGA/IC package substrates from Unimicron."
- [confirms] MGR (EN, analysis, published 2025-01-01) https://www.marketgrowthreports.com/market-reports/abf-substrate-fc-bga-market-107527: "Uses FC-BGA/IC package substrates from Unimicron."

### OpenAI (high)  → /openai.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: NVIDIA invests up to $100B in OpenAI (non-controlling).
- [confirms] CNBC (EN, news, published 2025-09-22) https://www.cnbc.com/2025/09/22/nvidia-openai-data-center.html: "NVIDIA invests up to $100B in OpenAI (non-controlling)."

### Coherent (high)  → /coherent.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: NVIDIA invests $2B in Coherent (optics alliance).
- [confirms] Ledesk (KO, news, published 2026-01-01) https://www.ledesk.co.kr/view.php?uid=15600: "NVIDIA invests $2B in Coherent (optics alliance)."

### Lumentum (high)  → /lumentum.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources EML lasers/optics from Lumentum (co-development, $2B investment).
- [confirms] NVIDIA (EN, news, published 2026-03-02) https://nvidianews.nvidia.com/news/nvidia-announces-strategic-partnership-with-lumentum-to-develop-state-of-the-art-optics-technology: "Sources EML lasers/optics from Lumentum (co-development, $2B investment)."
- [confirms] SEC EDGAR (EN, filing, published 2025-08-19) https://www.sec.gov/Archives/edgar/data/0001633978/000162828025039896/lite_ex991xq4fy25.htm: "Sources EML lasers/optics from Lumentum (co-development, $2B investment)."

### Eoptolink (high)  → /eoptolink.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Also sources 800G/1.6T transceivers from Eoptolink.
- [confirms] TheElec (KO, news, published 2026-03-13) https://www.thelec.kr/news/articleView.html?idxno=58033: "Also sources 800G/1.6T transceivers from Eoptolink."
- [confirms] Eoptolink/SZSE (EN, filing, published 2026-03-01) https://www.eoptolink.com: "Also sources 800G/1.6T transceivers from Eoptolink."

### Amphenol (high)  → /amphenol.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources GB200 copper cables/interconnect from Amphenol.
- [confirms] BeyondSPX (EN, research, published 2026-01-01) https://everyticker.com/quote/APH/analysis/amphenol-s-ai-interconnect-revolution-how-decentralized-execution-builds-a-structural-moat-nyse-aph: "Sources GB200 copper cables/interconnect from Amphenol."

### Corning (high)  → /corning.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources datacenter fiber/connectivity from Corning.
- [confirms] RCR Wireless (EN, news, published 2026-06-11) https://www.rcrwireless.com/20260611/connectivity/corning-ai-infra: "Sources datacenter fiber/connectivity from Corning."

### Nebius (high)  → /nebius.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Strategic investment in neocloud Nebius.
- [confirms] SEC EDGAR (EN, filing, published 2025-11-01) https://www.sec.gov/Archives/edgar/data/0001513845/000110465925109806/tm2530882d1_ex99-2.htm: "Strategic investment in neocloud Nebius."

### ABB (high)  → /abb.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Co-develops 800VDC rack power architecture with ABB.
- [confirms] ABB (EN, filing, published 2026-01-01) https://new.abb.com/news/detail/129805/abb-to-develop-next-generation-ai-data-centers-with-nvidia: "Co-develops 800VDC rack power architecture with ABB."

### Astera Labs (high)  → /astera-labs.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Astera's Aries/Scorpio retimers are designed into Nvidia's Blackwell platform.
- [confirms] Korea Economic Daily (KO, news, published 2026-06-09) https://www.hankyung.com/article/2026060964591: "An NVIDIA ally singled out by Jensen Huang, up 223% this year."
- [confirms] Seoul Economic Daily (KO, news, published 2025-09-15) https://www.sedaily.com/NewsView/2GXV1MVG3D: "Astera's Aries and Scorpio were adopted into NVIDIA's Blackwell platform, with interoperability demoed at GTC 2025."

### CoreWeave (high)  → /coreweave.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: NVIDIA invests $2B in CoreWeave.
- [confirms] SEC filing (EN, filing, published 2026-02-25) https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm: "NVIDIA FY2026 revenue $215.9B (+65%); Data Center $193.74B (+68%, 90% of revenue); direct-customer concentration — Customer A 22%, Customer B 14% (Compute & Networking); two indirect customers each >10%"
- [confirms] Wowtale (KO, news, published 2026-01-27) https://wowtale.net/2026/01/27/253840/: "NVIDIA invests $2B in CoreWeave."

### Ibiden (high)  → /ibiden.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Buys FC-BGA package substrates from Ibiden.
- [confirms] Jabon (KO, news, published 2026-02-01) https://www.jabon.co.kr/news/articleView.html?idxno=926: "¥500B expansion for NVIDIA AI substrates."
- [confirms] Ibiden (EN, ir, published 2025-05-01) https://www.ibiden.com/ir/: "IR: IC package-substrate revenue."
- [confirms] DigiTimes (EN, news, published 2025-01-02) https://www.digitimes.com/news/a20250102PD221/ibiden-ic-substrate-demand-market-intel-nvidia.html: "Exclusive FC-BGA supply to Intel and NVIDIA."

### Luxshare (high)  → /luxshare.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources GB200 connectors, power and cooling from Luxshare.
- [confirms] TrendForce (EN, news, published 2024-04-30) https://www.trendforce.com/news/2024/04/30/news-luxshare-reportedly-enters-nvidias-chain-eyeing-at-ai-chip-business/: "Sources GB200 connectors, power and cooling from Luxshare."

### InnoLight (high)  → /innolight.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources 800G/1.6T transceivers from InnoLight at scale.
- [confirms] IP-Fiber (Baudcom) (EN, news, published 2025-11-11) https://ip-fiber.com/blogs/news/nvidia-orders-surge-innolight-and-eoptolink-dominate-60-of-800g-sfp-optical-modules-supply: "Sources 800G/1.6T transceivers from InnoLight at scale."
- [confirms] SmartToday (KO, news, published 2025-01-01) https://www.smarttoday.co.kr/ko-kr/articles/85435: "Sources 800G/1.6T transceivers from InnoLight at scale."

### Delta Electronics (high)  → /delta-electronics.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources rack power/cooling from Delta and others.
- [confirms] PR Newswire (EN, news, published 2026-03-16) https://www.prnewswire.com/news-releases/deltas-power-cooling-and-microgrid-solutions-showcased-at-nvidia-gtc-to-bolster-the-800-vdc-architecture-of-next-gen-ai-factories-302714372.html: "Sources rack power/cooling from Delta and others."

### SK하이닉스 (high)  → /sk-hynix.md
- note: Buys HBM and memory. NVIDIA's 10-K names SK hynix as a memory supplier.
- [confirms] EPNC (KO, news, published 2026-05-20) https://www.epnc.co.kr/news/articleView.html?idxno=329031: "Samsung, SK hynix and Micron compete to supply HBM4 for NVIDIA's next-gen 'Vera Rubin'."
- [confirms] SEC filing (EN, filing, published 2026-02-25) https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm: "NVIDIA 10-K: "We purchase memory from SK Hynix Inc., Micron Technology, Inc., and Samsung.""

### Micron Technology (high)  → /micron.md
- note: Buys HBM/memory (named in NVIDIA's 10-K).
- [confirms] EPNC (KO, news, published 2026-05-20) https://www.epnc.co.kr/news/articleView.html?idxno=329031: "Samsung, SK hynix and Micron compete to supply HBM4 for NVIDIA's next-gen 'Vera Rubin'."
- [confirms] SEC filing (EN, filing, published 2026-02-25) https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm: "NVIDIA 10-K: "We purchase memory from SK Hynix Inc., Micron Technology, Inc., and Samsung.""

### 삼성전자 (high)  → /samsung-electronics.md
- note: Buys memory (HBM) and uses Samsung's foundry for wafers. NVIDIA's 10-K names both.
- [confirms] EPNC (KO, news, published 2026-05-20) https://www.epnc.co.kr/news/articleView.html?idxno=329031: "Samsung, SK hynix and Micron compete to supply HBM4 for NVIDIA's next-gen 'Vera Rubin'."
- [confirms] SEC filing (EN, filing, published 2026-02-25) https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm: "NVIDIA 10-K: "We utilize foundries, such as TSMC and Samsung" and "We purchase memory from ... Samsung.""

### TSMC (high)  → /tsmc.md
- note: Key supplier for wafer foundry and CoWoS advanced packaging. Named in NVIDIA's 10-K. NVIDIA was TSMC's largest customer at 19% of 2025 revenue ($23.2B).
- [confirms] SEC / TSMC (EN, filing, published 2026-04-16) https://www.sec.gov/Archives/edgar/data/1046179/000162828026025362/tsm-20251231.htm: "TSMC 20-F: largest customer (NVIDIA) was 19% of 2025 revenue = NT$726.9B ($23.2B)."
- [confirms] SEC filing (EN, filing, published 2026-02-25) https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm: "NVIDIA 10-K: "We utilize foundries, such as Taiwan Semiconductor Manufacturing Company Limited, or TSMC" and "We utilize CoWoS technology for semiconductor packaging.""

### 온세미 (AI DC 800VDC 전력) (high)  → /onsemi.md
- note: NVIDIA adopts onsemi's silicon/SiC power semiconductors (solid-state transformers, PSUs) for the 800VDC power architecture of next-gen AI data centers — as GPU rack power density rises, dependence on high-efficiency power-conversion partners grows.
- [confirms] onsemi (EN, news, published 2025-07-29) https://www.onsemi.com/company/news-media/press-announcements/en/onsemi-collaborates-with-nvidia-to-accelerate-transition-to-800-vdc-power-solutions-for-next-generation-ai-data-centers: "NVIDIA and onsemi collaborate on 800VDC AI-datacenter power (Jul 2025)."

### 위스트론 (AI 서버 ODM) (high)  → /wistron.md
- note: Blackwell rack-server ODM (~21% share).
- [confirms] Tom's Hardware (EN, news, published 2025-05-01) https://www.tomshardware.com/tech-industry/artificial-intelligence/nvidia-gb200-production-ramps-up-after-suppliers-tackle-ai-server-overheating-and-liquid-cooling-leaks: "Wistron ~21% of Blackwell rack shipments."

### Siemens EDA (mid)  → /siemens-eda.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Pays for Siemens EDA (Calibre etc.) licenses.
- [confirms] Wikipedia (KO, news, published 2026-01-01) https://ko.wikipedia.org/wiki/멘토_그래픽스: "nvidia designs chips on Siemens EDA (Calibre/Tessent/Questa)."
- [confirms] SemiWiki (EN, research, published 2025-06-01) https://semiwiki.com/wikis/company-wikis/mentor-graphics-wiki/: "nvidia designs chips on Siemens EDA (Calibre/Tessent/Questa)."

### 키옥시아 (mid)  → /kioxia.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Purchases NAND and SSDs for AI and data centers from Kioxia.
- [confirms] News1 (KO, news, published 2025-11-01) https://www.news1.kr/industry/general-industry/5997227: "Buys NAND/SSD for AI and datacenters from Kioxia."
- [confirms] Kioxia (EN, ir, published 2025-05-01) https://www.kioxia.com/en-jp/ir.html: "Buys NAND/SSD for AI and datacenters from Kioxia."

### 난야PCB (mid)  → /nanya-pcb.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses BT and package substrates from Nan Ya PCB.
- [confirms] Nan Ya PCB (EN, ir, published 2025-05-01) https://www.npc.com.tw/npceb2b/en/: "Uses BT/package substrates from Nan Ya PCB."
- [confirms] MatrixBCG (EN, analysis, published 2025-01-01) https://matrixbcg.com/blogs/growth-strategy/nanyapcb: "Uses BT/package substrates from Nan Ya PCB."

### Advantest (mid)  → /advantest.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Buys test equipment (ATE) from Advantest.
- [confirms] AlphaBiz (KO, news, published 2025-09-01) https://alphabiz.co.kr/news/view/1065571888915355: "Dominant HBM tester tech; SK hynix and others."
- [confirms] Advantest (EN, ir, published 2025-06-01) https://www.advantest.com/document/en/investors/ir-library/annual/E_02_IAR2025.pdf: "Annual report: ATE revenue and customers."
- [confirms] Mordor (EN, analysis, published 2025-01-01) https://www.mordorintelligence.com/industry-reports/semiconductor-test-equipment-market: "No.1 in test equipment at ~58%."

### Teradyne (mid)  → /teradyne.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Buys test equipment (ATE) from Teradyne.
- [confirms] Korea Economic Daily (KO, news, published 2026-02-24) https://www.hankyung.com/article/2026022418631: "Teradyne surges on the chip upturn."
- [confirms] SEC EDGAR (EN, filing, published 2025-02-26) https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=TER&type=10-K: "10-K: semiconductor-test revenue."
- [confirms] Teradyne (EN, ir, published 2025-01-01) https://www.teradyne.com/semiconductor-testing/: "Memory, SoC and computing test."

### LG이노텍 (mid)  → /lg-innotek.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses substrates and camera modules from LG Innotek.
- [confirms] Financial News (KO, news, published 2026-06-17) https://www.fnnews.com/news/202606170709505720: "Uses substrates and camera modules from LG Innotek."
- [confirms] TechM (KO, news, published 2025-01-01) https://www.techm.kr/news/articleView.html?idxno=134965: "Uses substrates and camera modules from LG Innotek."

### Fabrinet (mid)  → /fabrinet.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Outsources optical-module manufacturing to Fabrinet.
- [confirms] MatrixBCG (EN, research, published 2026-01-01) https://matrixbcg.com/blogs/how-it-works/fabrinet: "Outsources optical-module manufacturing to Fabrinet."
- [confirms] SEC EDGAR (EN, filing, published 2025-08-18) https://www.sec.gov/Archives/edgar/data/0001408710/000140871025000036/fn-2025818xex991q425.htm: "Outsources optical-module manufacturing to Fabrinet."

### Keysight (mid)  → /keysight.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses Keysight test to validate AI fabrics.
- [confirms] Keysight (EN, news, published 2025-04-01) https://www.keysight.com/us/en/about/newsroom/news-releases/2025/0401-pr25-052-keysight-unveils-architecture-for-scaling-ai-data-centers.html: "Uses Keysight test to validate AI fabrics."

### Murata (mid)  → /murata.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: MLCCs for AI server boards.
- [confirms] Motley Fool (EN, news, published 2026-02-14) https://www.fool.com/investing/2026/02/14/nvidia-stock-good-news-amazon-google-meta-microsof/: "MLCCs for AI server boards."

### Recursion Pharmaceuticals (mid)  → /recursion.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: $50M strategic investment in Recursion (later trimmed).
- [confirms] Recursion (EN, filing, published 2023-07-12) https://ir.recursion.com/news-releases/news-release-details/recursion-announces-collaboration-and-50-million-investment: "$50M strategic investment in Recursion (later trimmed)."

### 삼성전기 (mid)  → /samsung-electro-mechanics.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Buys FC-BGA semiconductor substrates for AI accelerators.
- [confirms] TheElec (KO, news, published 2026-01-31) https://www.thelec.kr/news/articleView.html?idxno=51302: "Samsung Electro-Mechanics added Broadcom to FC-BGA customers (after NVIDIA, AMD, Google, Amazon, Apple), supplying AI-accelerator substrates."

### KYEC (mid)  → /kyec.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Uses semiconductor test from KYEC.
- [confirms] KYEC (EN, ir, published 2025-05-01) https://www.kyec.com.tw/en/: "Uses semiconductor test from KYEC."
- [confirms] Mordor (EN, analysis, published 2025-01-01) https://www.mordorintelligence.com/industry-reports/osat-market/companies: "Uses semiconductor test from KYEC."

### TE Connectivity (mid)  → /te-connectivity.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Sources copper cables/connectors from Amphenol and TE.
- [confirms] Fintool (EN, news, published 2026-01-01) https://fintool.com/news/te-connectivity-record-orders-ai-surge: "Sources copper cables/connectors from Amphenol and TE."

### 미디어텍 (mid)  → /mediatek.md
- metric: Amount $1B · 2026 클라우드 ASIC 매출 목표(합산)
- note: Co-designed GB10 (DGX Spark) silicon with MediaTek — custom-silicon partner relationship.
- [confirms] TrendForce (EN, research, published 2025-12-15) https://www.trendforce.com/news/2025/12/15/news-mediatek-reportedly-secures-google-v7e-v8e-tpu-orders-requests-7-fold-cowos-increase-from-tsmc/: "MediaTek co-designed NVIDIA GB10 (DGX Spark); cloud ASIC target $1bn (2026), several billion (2027)"

### BYD전자 (액체냉각) (mid)  → /byd-electronics.md
- note: One of NVIDIA's datacenter liquid-cooling component suppliers.
- [mentions] MiniChart (research digest) (EN, research, published 2025-05-29) https://www.minichart.com.sg/2025/05/29/byd-electronic-apple-ai-hypergrowth-to-drive-26-profit-cagr-2025-forecast/: "Liquid-cooling components for NVIDIA."

### 무라타 (MLCC) (mid)  → /murata.md
- note: One of NVIDIA's MLCC sources for AI-server boards (~30k per GB300).
- [confirms] Investing.com (EN, news, published 2026-05-01) https://www.investing.com/news/company-news/murata-raises-mlcc-growth-forecast-for-ai-servers-to-30-cagr-93CH-4385436: "GB300 uses ~30k MLCCs."

### 페가트론 (AI 서버 ODM) (mid)  → /pegatron.md
- note: ODM for GB200/Blackwell AI server racks (delivered liquid-cooled racks exceeding 130kW).
- [confirms] Yahoo Finance (EN, news, published 2026-01-23) https://finance.yahoo.com/news/apple-dell-supplier-pegatron-expects-093230268.html: "Pegatron delivered first GB200 racks."

### Digital Realty (low)  → /digital-realty.md
- metric: Amount $215.9B · NVIDIA FY2026 매출(+65%)
- note: Some AI-infra space from Digital Realty.
- [confirms] Motley Fool (EN, research, published 2025-11-02) https://www.fool.com/investing/2025/11/02/ai-needs-data-centers-and-digital-realty-trust-del/: "Some AI-infra space from Digital Realty."

### Analog Devices (low)  → /analog-devices.md
- note: ADI is among the ~15 silicon providers in NVIDIA's 800 VDC AI-data-center power ecosystem (2027 target; non-exclusive, forward-looking).
- [confirms] NVIDIA (EN, ir, published 2025-08-21) https://developer.nvidia.com/blog/building-the-800-vdc-ecosystem-for-efficient-scalable-ai-factories/: "Silicon providers: AOS, Analog Devices, Efficient Power Conversion, Infineon, MPS, Navitas, onsemi, Renesas, STMicroelectronics, Texas Instruments..."

Reverse side: https://valuechain.wiki/nvidia/customers.md · Ripple: https://valuechain.wiki/nvidia/ripple.md

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Full node: https://valuechain.wiki/nvidia.md · JSON: https://valuechain.wiki/nvidia.json