# If Salesforce, Inc. moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/salesforce · Facet: ripple · Updated: 2026-09-24T12:56:02.738806+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, Salesforce, Inc. is directly linked to 9 companies (2 supply, 7 revenue relationships) and reaches 66 companies within two hops; the links are backed by 15 dated sources, 3 of them primary filings (as of 2026-09-24).

A case where being at the demand end of the AI chain did not bring the move. After rebounding 98.5% in 2023, Salesforce has stalled for two years: -20.2% in 2025 and -1.6% in 2026. Over the same period the layers above kept rising (NVIDIA +38.9% in 2025 and +23.7% in 2026, Alphabet +66.0% in 2025). The usual argument that cheaper compute benefits the software built on top of it is not visible in the share price. The node's structure suggests why. On the cost side it straddles two clouds, Amazon and Alphabet, with $16.7B of contractual commitments to infrastructure service providers disclosed as of 2026-01-31. The filing gives only the total and does not split it by vendor, so how much sits with each is unconfirmed. On the revenue side it names large customers such as PepsiCo and Equinix, but no per-customer contribution is disclosed against FY2026 revenue of $41.5B. It therefore sits where fixed costs above are rising while pricing power below is unproven. The Informatica acquisition, completed in November 2025, is the response, securing the data layer, and whether that bet restores the multiple is the re-rating question. Workday moved the same way (-8.8% in 2026), so this reads as a de-rating of enterprise SaaS as a segment rather than a company-specific problem.

## Demand chain (leading)
- T1 PepsiCo (https://valuechain.wiki/pepsico.md)
- T2 Costco Wholesale (https://valuechain.wiki/costco.md)
- T2 Walmart Inc (https://valuechain.wiki/walmart.md)
- T3 UnitedHealth Group Incorporated (https://valuechain.wiki/unitedhealth-group.md)
- T2 E-mart Inc. (https://valuechain.wiki/emart.md)
- T2 Sysco Corporation (https://valuechain.wiki/sysco.md)
- T2 Dollar General Corporation (https://valuechain.wiki/dollar-general.md)
- T3 Uber (https://valuechain.wiki/uber.md)
- T3 DoorDash, Inc. (https://valuechain.wiki/doordash.md)
- T2 Casey's (https://valuechain.wiki/caseys.md)
- T1 Equinix (https://valuechain.wiki/equinix.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 Starbucks Corp (https://valuechain.wiki/starbucks.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 VeriSign, Inc. (https://valuechain.wiki/verisign.md)
- T3 GoDaddy (https://valuechain.wiki/godaddy.md)
- T1 Veeva Systems (https://valuechain.wiki/veeva-systems.md)
- T2 Merck KGaA (EMD) (https://valuechain.wiki/merck-kgaa.md)
- T3 SK hynix (https://valuechain.wiki/sk-hynix.md)
- T3 Intel (https://valuechain.wiki/intel.md)
- T3 Micron Technology (https://valuechain.wiki/micron.md)
- T3 LG Display (https://valuechain.wiki/lg-display.md)
- T3 Samsung Electronics (https://valuechain.wiki/samsung-electronics.md)
- T2 Lilly (Eli) (https://valuechain.wiki/lilly-eli.md)
- T3 Cardinal Health, Inc. (https://valuechain.wiki/cardinal-health.md)
- T3 McKesson Corporation (https://valuechain.wiki/mckesson.md)
- T3 Cencora, Inc. (https://valuechain.wiki/cencora.md)
- T1 Williams-Sonoma, Inc. (https://valuechain.wiki/williams-sonoma.md)
- T2 Capital One (https://valuechain.wiki/capital-one.md)

## Supply chain (benefiting)
- T1 Amazon (https://valuechain.wiki/amazon.md)
- T2 Quanta Computer (https://valuechain.wiki/quanta.md)
- T3 NVIDIA (https://valuechain.wiki/nvidia.md)
- T3 Rigetti Computing (https://valuechain.wiki/rigetti.md)
- T2 Seagate Technology (https://valuechain.wiki/seagate.md)
- T3 Hoya Corporation (https://valuechain.wiki/hoya.md)
- T3 Phison Electronics (https://valuechain.wiki/phison.md)
- T2 Credo Technology (https://valuechain.wiki/credo.md)
- T3 Synopsys (https://valuechain.wiki/synopsys.md)
- T3 TSMC (https://valuechain.wiki/tsmc.md)
- T3 Cadence Design Systems (https://valuechain.wiki/cadence.md)
- T2 Marvell (https://valuechain.wiki/marvell.md)
- T3 Siemens EDA (https://valuechain.wiki/siemens-eda.md)
- T3 SK hynix (https://valuechain.wiki/sk-hynix.md)
- T3 Samsung Electronics (https://valuechain.wiki/samsung-electronics.md)
- T3 Samsung Electro-Mechanics (https://valuechain.wiki/samsung-electro-mechanics.md)
- T2 Astera Labs (https://valuechain.wiki/astera-labs.md)
- T2 Alchip Technologies (https://valuechain.wiki/alchip.md)
- T3 Arm Holdings (https://valuechain.wiki/arm.md)
- T2 SanDisk (https://valuechain.wiki/sandisk.md)
- T3 Tokyo Electron (TEL) (https://valuechain.wiki/tokyo-electron.md)
- T3 ASML (https://valuechain.wiki/asml.md)
- T3 Lam Research (https://valuechain.wiki/lam-research.md)
- T2 Foxconn (Hon Hai) (https://valuechain.wiki/foxconn.md)
- T3 Delta Electronics (https://valuechain.wiki/delta-electronics.md)
- T3 UBTech Robotics (https://valuechain.wiki/ubtech.md)
- T3 Murata Manufacturing (https://valuechain.wiki/murata.md)
- T3 Amphenol (https://valuechain.wiki/amphenol.md)
- T3 TE Connectivity (https://valuechain.wiki/te-connectivity.md)
- T3 FANUC (https://valuechain.wiki/fanuc.md)
- T2 Arista Networks (https://valuechain.wiki/arista.md)
- T3 Broadcom (https://valuechain.wiki/broadcom.md)
- T2 Anthropic (https://valuechain.wiki/anthropic.md)
- T3 Alphabet (Google) (https://valuechain.wiki/alphabet.md)
- T3 CoreWeave (https://valuechain.wiki/coreweave.md)
- T3 SK Telecom (https://valuechain.wiki/sk-telecom.md)
- T2 Wiwynn (https://valuechain.wiki/wiwynn.md)
- T2 IonQ (https://valuechain.wiki/ionq.md)
- T2 D-Wave Quantum (https://valuechain.wiki/d-wave.md)
- T2 Eaton (https://valuechain.wiki/eaton.md)
- T2 Schneider Electric (https://valuechain.wiki/schneider-electric.md)
- T2 GE Vernova (https://valuechain.wiki/ge-vernova.md)
- T3 Workday, Inc. (https://valuechain.wiki/workday.md)
- T2 Vistra (https://valuechain.wiki/vistra.md)
- T3 Cameco (https://valuechain.wiki/cameco.md)
- T3 Williams Companies (https://valuechain.wiki/williams.md)
- T3 CenterPoint Energy (https://valuechain.wiki/centerpoint-energy.md)
- T2 Quantum Computing Inc (https://valuechain.wiki/qubt.md)
- T2 Talen Energy (https://valuechain.wiki/talen-energy.md)
- T2 Ciena (https://valuechain.wiki/ciena.md)
- T3 Sumitomo Electric (https://valuechain.wiki/sumitomo-electric.md)
- T2 Corning (https://valuechain.wiki/corning.md)
- T2 Cerebras Systems (https://valuechain.wiki/cerebras.md)
- T2 Globalstar (https://valuechain.wiki/globalstar.md)
- T3 SpaceX (https://valuechain.wiki/spacex.md)
- T3 MDA Space (https://valuechain.wiki/mda-space.md)
- T2 Cummins (https://valuechain.wiki/cummins.md)
- T3 United Rentals (https://valuechain.wiki/united-rentals.md)
- T2 ABB (https://valuechain.wiki/abb.md)
- T2 Caterpillar (https://valuechain.wiki/caterpillar.md)
- T3 Nucor Corporation (https://valuechain.wiki/nucor.md)
- T2 Celestica (https://valuechain.wiki/celestica.md)
- T2 Digital Realty (https://valuechain.wiki/digital-realty.md)
- T3 Siemens Energy (https://valuechain.wiki/siemens-energy.md)
- T3 HD Hyundai Electric (https://valuechain.wiki/hd-hyundai-electric.md)
- T2 Nike (https://valuechain.wiki/nike.md)
- T2 Amorepacific (https://valuechain.wiki/amorepacific.md)
- T2 Procter & Gamble (https://valuechain.wiki/procter-gamble.md)
- T3 Meta Platforms (https://valuechain.wiki/meta.md)
- T3 Dow Inc. (https://valuechain.wiki/dow.md)
- T3 International Flavors & Fragrances (https://valuechain.wiki/international-flavors-fragrances.md)
- T2 ArianeGroup (https://valuechain.wiki/arianegroup.md)
- T3 Avio (https://valuechain.wiki/avio.md)
- T3 Airbus (https://valuechain.wiki/airbus.md)
- T2 Fabrinet (https://valuechain.wiki/fabrinet.md)
- T2 Jabil (https://valuechain.wiki/jabil.md)
- T2 Exelon (https://valuechain.wiki/exelon.md)
- T2 Abbott Laboratories (https://valuechain.wiki/abbott-laboratories.md)
- T3 Illumina (https://valuechain.wiki/illumina.md)
- T2 United Parcel Service, Inc. (https://valuechain.wiki/united-parcel-service.md)
- T3 Boeing (https://valuechain.wiki/boeing.md)
- T3 Union Pacific Corporation (https://valuechain.wiki/union-pacific.md)
- T2 FedEx (https://valuechain.wiki/fedex.md)
- T3 Textron (https://valuechain.wiki/textron.md)
- T2 Colgate-Palmolive Company (https://valuechain.wiki/colgate-palmolive.md)
- T2 Norfolk Southern (https://valuechain.wiki/norfolk-southern.md)
- T3 Wabtec Corporation (https://valuechain.wiki/wabtec.md)
- T2 Occidental Petroleum (https://valuechain.wiki/occidental-petroleum.md)
- T3 BlackRock (https://valuechain.wiki/blackrock.md)
- T2 Entergy (https://valuechain.wiki/entergy.md)
- T3 NextEra Energy (https://valuechain.wiki/nextera-energy.md)
- T2 The Estée Lauder Companies Inc. (https://valuechain.wiki/est-e-lauder-companies.md)
- T3 Shopify (https://valuechain.wiki/shopify.md)
- T2 Ameren Corporation (https://valuechain.wiki/ameren.md)
- T2 Church & Dwight Co., Inc. (https://valuechain.wiki/church-dwight.md)
- T2 Omnicom Group Inc. (https://valuechain.wiki/omnicom-group.md)

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