Puestos
6$OVH (+4,17 %) announces that it has been selected in the consortium for the EU's sovereign cloud services. This contract is capped at €180 million over 6 years. This is less interesting in terms of revenue, but shows that the company's solution is being recognized here and will certainly encourage imitators. The share price rose sharply again today from €10 to over €11 (+10%) and is making my portfolio happy.
What do you think of the EU Sovereign solution $OVH (+4,17 %) ?
$OVH (+4,17 %) has delivered new figures and strengthened its position as the largest European cloud.
https://corporate.ovhcloud.com/en/newsroom/news/financial-results-h1-fy26/
Strong demand from the defense sector and the integration of AI through the latest acquisition make me even more confident about this investment.
I would be interested to hear what Mr. prompt's colleagues have to say about the company @Raketentoni ?
$OVH (+4,17 %) today announced the acquisition of Dragon LLM. Dragon LLM was the winner of the EU's Large AI Grand Challenge and develops specialized, sovereign LLM models.
OVH is thus expanding its strength in data sovereignty and will benefit here in the long term from the shift towards European providers. I remain invested. Who else is on board with the European cloud?
https://ml-eu.globenewswire.com/Resource/Download/b8a3bfb3-079b-4d84-b126-f5b26e886040
Anyone heard anything that happened at $OVH (+4,17 %) happened?
Hello dear Getquin Community,
After $ORCL (+12,04 %) Oracle caused quite a stir after the last quarterly figures and the market reacted extremely positively with a 40 percent increase in the share price, so much so that CEO Larry Ellison briefly became the richest person in the world overnight, I wanted to unravel the magic and find out exactly which division caused this tremor.
The answer is Cloud Infrastructure, or OCI for short. In this area, the demand for data centers for artificial intelligence has exploded, which has brought Oracle long-term orders worth 455 billion US dollars. However, it is not only Oracle that is benefiting, but also other hyperscalers, regional challengers and, above all, the so-called shovel manufacturers that provide the basic infrastructure.
I have taken the trouble to look for potential competitors and up-and-coming challengers so that you have a complete overview of this sector. I have divided the whole thing into the following segments: 🌍 Big players (hyperscalers), 💡 Hidden champions (selection by region), ⚒️ Shovel manufacturers (infrastructure suppliers) and, as always, my favorite.
If I have overlooked any important aspects or a classification was not entirely precise, I look forward to your comments and exciting additions. Together we can understand this topic even better and learn from each other.
Feel free to leave a 👍. I wish you every success with your investments 🚀
🌍 Big Player (Hyperscaler)
Amazon Web Services - $AMZN (+2,76 %) (USA, Nasdaq) → World market leader with >30 % market share, huge data centers & own AI chips (Trainium, Inferentia)
Microsoft Azure - $MSFT (+1,21 %) (USA, Nasdaq) → second largest provider, strong AI focus through OpenAI partnership
Google Cloud - $GOOGL (-0,02 %) (USA, Nasdaq) → third largest provider, specialized in AI workloads & big data
Oracle Cloud Infrastructure (OCI) - $ORCL (+12,04 %) (USA, NYSE) → Number 4 worldwide, currently fastest growth (+70-80 %), RPO USD 455 bn
Alibaba Cloud - $BABA (+2,22 %) , $9988 (+2,64 %) (China, NYSE/HKEX) → Market leader in Asia, complete cloud suite from IaaS to AI
Favorite: Oracle - $ORCL (+12,04 %)
Oracle impresses with its cloud infrastructure OCI, which recently collected orders worth 455 billion US dollars. The moat lies in the close integration of the database business and cloud services as well as the multi-cloud partnerships with Microsoft and Google. The compounder property is the result of long-term contracts and economies of scale in data center construction.
Alternative favorite: Alibaba Cloud - $BABA (+2,22 %) , $9988 (+2,64 %)
Alibaba is number one in Asia and number four worldwide. The moat lies in the close integration with Alibaba's e-commerce and fintech ecosystem. The compounder property stems from the enormous growth in emerging markets and the increasing demand for cloud services in China. While the stock is valued significantly cheaper than Oracle, there are geopolitical and regulatory risks.
💡 Hidden champions (selection by region)
🇪🇺 Europe
OVHcloud - $OVH (+4,17 %) PA (France) → largest European cloud provider, GDPR- and Gaia-X-focused
Scaleway - private (France, part of the Iliad Group) → Developer and AI cloud platform
T-Systems - part of $DTE (-1,9 %) DE (Deutsche Telekom, Germany) → Hybrid & Sovereign Cloud for Public Sector
IONOS - $IOS (+5,24 %) DE (Germany, Xetra)
Largest European web hosting and SME cloud provider. Burggraben: strong brand and high customer loyalty in the SME sector.
Aruba Cloud - private (Italy) → regionally strong in SMEs & hosting
Outscale - private (France, subsidiary of Dassault $DSY.PA) → Industrial Cloud & Simulation
Favorite: OVHcloud - $OVH (+4,17 %)
Burggraben: strong position as a GDPR-compliant sovereign cloud with Gaia-X. Compounder: increasing trust from authorities and companies ensures growing recurring revenues.
🇨🇳 China
Baidu AI Cloud - part of $BIDU (+1,95 %) , $9888 (+2,02 %) (Nasdaq, China/USA) → AI workloads, autonomous driving, language models
JD Cloud - part of $JD (-0,19 %) , $9618 (-0,4 %) (Nasdaq, China/USA) → Cloud for e-commerce & retail
Kingsoft Cloud - $KC (+1,56 %) , $3896 (+4,49 %) (Nasdaq, China/USA) → Gaming, streaming and app cloud
China Telecom Cloud - part of $728 HK (HKEX) → Infrastructure cloud, state-supported
China Mobile Cloud - part of $941 HK (HKEX) → 5G edge cloud with telecom backbone
Favorite: Kingsoft Cloud - $KC (+1,56 %) , $3896 (+4,49 %)
Moat: Specializing in gaming, streaming and mobile apps with deep integrations into ecosystems. Compounder: benefits from China's growing online consumption and strong embedding in the Tencent environment.
🇯🇵 Japan
NTT Communications - part of $9432 (+0,61 %) T (Tokyo) → Enterprise cloud with global network
NEC Cloud - $6701 (-0,51 %) T (Tokyo) → Government & security solutions
Fujitsu Cloud K5 - $6702 (-0,5 %) T (Tokyo) → Hybrid cloud for large companies
Rakuten Symphony Cloud - part of $4755 (+0,75 %) T (Tokyo) → 5G & telecom cloud
IIJ Cloud - $3774 (-0,99 %) T (Tokyo) → Cloud pioneer for enterprise IT
Favorite: NTT - $9432 (+0,61 %)
Moat: global telecom backbone and huge enterprise customer base. Compounder: expansion of data centers in Asia and Europe with stable recurring revenues.
🇮🇳 India
Reliance Jio Cloud - part of $RELIANCE NS (NSE India) → Telecom Cloud, partnership with Azure
Tata Communications IZO - $TATACOMM NS (NSE India) → Hybrid cloud & global backbone
Infosys Cobalt - $INFY (NYSE/NSE India) → Cloud migration platform & consulting
HCLTech Cloud - $HCLTECH NS (NSE India) → AI-powered hybrid cloud
Wipro Cloud Studio - $WIPRO NS (NSE India) → MultiCloud service provider
Favorite: Tata Communications - $TATACOMM
Moat: global fiber optic network and deep networking in hybrid cloud. Compounder: growing international expansion and increasing demand for multi-cloud solutions.
🌏 Asia / Oceania
Naver Cloud - part of $035420 KQ (Korea KOSDAQ) → AI & gaming cloud
Samsung SDS Cloud - $018260 , $SMSN (+3,72 %) KQ (Korea KOSDAQ) → Enterprise & IoT Cloud
KT Cloud - part of $030200 KQ (Korea KOSDAQ) → Telecom & Edge Cloud with 5G
Telstra Cloud - $TLS (+0,72 %) AX (Australia) → Telecom Cloud, Asia-Pacific focus
Macquarie Telecom Cloud - $MAQ AX (Australia) → Public Sector & Compliance
Favorite: Naver Cloud - $035420
Moat: strong integration of AI and gaming in Korea. Compounder: rapid scaling due to growing demand for AI and ML applications.
🌍 Latin America
UOL Diveo (Compasso UOL) - private (Brazil) → Cloud + Managed Services
Tivit Cloud - private (Brazil) → MultiCloud for industry & banks
Locaweb Cloud - $LWSA3 SA (Brazil) → SME Hosting & Cloud
Claro Cloud - part of $AMX (+0 %) (Mexico, NYSE/HKEX) → Telecom Cloud in Latin America
DesireCloud - private (Chile/Peru) → Local provider for companies
Favorite: Locaweb - $LWSA3
moat: Market leader for SME cloud and hosting in Brazil. Compounder: enormous scalability through the digitalization of small and medium-sized enterprises throughout Latin America.
🇨🇦 Canada
OVHcloud Canada - part of $OVH (+4,17 %) PA (France) → Data centers for North America
SherWeb - private (Quebec) → Cloud and MSP services for SMEs
HostPapa - private (Canada) → SME cloud solutions
Canadian Web Hosting - private (Canada) → Cloud & hosting with a focus on data protection
Beanfield Cloud - private (Toronto) → Cloud combined with fiber optic infrastructure
Favorite: SherWeb - private
Moat: close ties to SMEs via managed services. Compounder: fast-growing cloud ecosystem for small businesses in North America, high customer loyalty.
⚒️ Blade manufacturers (infrastructure suppliers)
🖥️ Semiconductors & Chips
Nvidia - $NVDA (-0,69 %) (USA, Nasdaq) → GPUs for AI training & cloud
AMD - $AMD (-2,31 %) (USA, Nasdaq) → CPUs/GPUs for Data Center
Intel - $INTC (+2,62 %) (USA, Nasdaq) → Server CPUs & AI accelerators (Gaudi)
TSMC - $TSM (+1,86 %) (Taiwan, NYSE/TWSE) → largest chip manufacturer, produces for NVIDIA/AMD
Samsung Electronics - $SMSN (+3,72 %) KQ (Korea) → Memory, foundry, GPUs/CPUs
Favorite: Nvidia - $NVDA (-0,69 %)
Moat: near monopoly in high-end GPUs for AI. Compounder: Ecosystem and network effects through CUDA and developer community.
📦 Data center hardware & servers
Supermicro - $SMCI (+3,61 %) (USA, Nasdaq) → GPU clusters & AI servers
Dell Technologies - $DELL (+1,7 %) (USA, NYSE) → Enterprise Servers & Storage
Hewlett Packard Enterprise - $HPE (+0,61 %) (USA, NYSE) → Hybrid Cloud & Edge
Inspur - private (China) → AI & Cloud Server
Lenovo - $LNVGY (-1,56 %) (China/ADR) → HPC and AI servers
Favorite: Supermicro - $SMCI (+3,61 %)
Moat: Specialization in GPU clusters and AI servers. Compounder: benefits from every expansion of the hyperscalers, extremely high scalability.
⚡ Memory & network chips
Micron - $MU (+13,72 %) (USA, Nasdaq) → DRAM & HBM memory
SK Hynix - $HY9H (+12,47 %) KQ (Korea) → Memory chips, HBM for NVIDIA
Broadcom - $AVGO (+0,42 %) (USA, Nasdaq) → Network Chips & Switches
Marvell - $MRVL (+0,17 %) (USA, Nasdaq) → Network & 5G chips
ASE Technology - $ASX (+3 %) (Taiwan, NYSE) → Packaging for high-end chips
Favorite: Broadcom - $AVGO (+0,42 %)
Moat: deep roots in network infrastructure of hyperscalers. Compounder: benefits from rising demand for switches and custom chips for the cloud.
🏭 Data centers / colocation
Equinix - $EQIX (+0,03 %) (USA, Nasdaq) → largest colocation provider worldwide
Digital Realty - $DLR (-0,96 %) (USA, NYSE) → Data centers worldwide, strong in Europe/USA
China Telecom DC - part of $728 HK (HKEX) → Data center infrastructure in China
NTT Data Centers - part of $9432 (+0,61 %) T (Tokyo) → Data centers in Asia/Europe
NEXTDC - $NXT (+0,88 %) AX (Australia) → Growing data centers in the APAC region
Favorite: Equinix - $EQIX (+0,03 %)
Moat: global networking and extremely high switching costs for customers. Compounder: continuous expansion and cross-selling potential through platform structure.
🔋 Energy & cooling
Schneider Electric - $SU (-2,8 %) PA (France, Euronext) → Power & Cooling for Data Center
ABB - $ABBN (-0,83 %) (Switzerland, SIX/NYSE ADR) → Energy & Automation
Siemens Energy - $ENR (-1,82 %) (Germany, Xetra) → Power Grids & Data Center Technology
Vertiv - $VRT (+0,81 %) (USA, NYSE) → Cooling, Racks & UPSs
Eaton - $ETN (-1,22 %) (Ireland/USA, NYSE) → Power Management
Favorite: Schneider Electric - $SU (-2,8 %)
Burggraben: market-leading energy and cooling systems for data centers. Compounder: long-term growth due to increasing demand for efficient data centers.
🌐 Network & Connectivity
Cisco - $CSCO (+1,53 %) (USA, Nasdaq) → Router & Network Hardware
Arista Networks - $ANET (+1,4 %) (USA, NYSE) → High-speed switches for hyperscalers
Juniper Networks - Acquisition by $HPE (+0,61 %) Hewlett Packard HP (USA, NYSE) → Routing & Network Security
Ciena - $CIEN (+3,32 %) (USA, NYSE) → Fiber Optics & Optical Networks
Nokia - $NOK (+1,81 %) (Finland, NYSE/Helsinki) → 5G & Core Networks
Favorite: Arista Networks - $ANET (+1,4 %)
Moat: technological leadership in high-speed switches in hyperscaler data centers. Compounder: enormous growth opportunities due to exponential data traffic in AI workloads.
✨ Takeaway
The Oracle quake shows: Cloud & AI are the growth drivers of the coming years. While hyperscalers are in the spotlight, hidden champions are growing in their niches in the background and blade manufacturers are making money from every expansion of the infrastructure.
👉 Question for you: Do you prefer to focus on hyperscalers in your strategy? hyperscalersthe hidden champions or directly on the shovel manufacturers?
I look forward to your opinions!
Source: own analysis
Image - Image credit: Getty Images
After my first post on humanoid robots received a lot of positive feedback, I went into more detail. I have subsequently added my favorites in each sector.
Extended analysis of the value chain including shovel manufacturers and potential hidden champions
New categorySecondary key sectors (sales, marketing, financing)
In additionTop 25 companies worldwide, as well as Top 10 Europe and Top 10 Asia
I have also added a video link for beginners. This will give you an idea of how far the development of humanoid robotics has already progressed.
Thank you for your attention and your support 🙏
🌐 1. value chain of humanoid robots (with hidden champions)
1. research & chip design
$ARM (-2,31 %) ARM (UK) - CPU-IP, energy-efficient processors
$SNPS (+2,6 %) Synopsys (US) - EDA software, chip design
$CDNS (+5,15 %) Cadence (US) - EDA & Simulation
$PTC PTC (US) - Engineering Software, CAD/PLM
$DSY (-0,16 %) Dassault Systèmes (FR) - 3D Design & Digital Twin
$SIE (-1,27 %) Siemens (DE) - Industrial Software & Lifecycle Mgmt
$ADBE (+2,63 %) Adobe (US) - Design, AR/UX
ANSYS (US) - multiphysical simulation - acquisition by Synopsis
Altair (US) - CAE, simulation, digital twin - acquisition by Siemens
$HXGBY (-2,72 %)
Hexagon (SE) - Metrology & Simulation
$AWE Alphawave IP Group (UK) - High-speed chip IP for AI/robotics
1.Synopsis, 2.Siemens and 3.Adobe are my top 3 in this sector
2. manufacturing technology & equipment
$ASML (-3,43 %) ASML (NL) - Lithography (EUV)
$AMAT (-0,31 %) Applied Materials (US) - Semiconductor equipment
$8035 (+2,1 %) Tokyo Electron (JP) - wafer fabrication
$KEYS (+0,7 %) Keysight Technologies (US) - Metrology
$6857 (-2,33 %) Advantest (JP) - Chip test systems
$TER (-1,02 %) Teradyne (US) - test systems + cobots
$6954 (-2,27 %) Fanuc (JP) - Industrial robots, CNC
$CAT (-1,2 %) Caterpillar (US) - autonomous machines
$KU2G KUKA (DE) - industrial robots
Comau (IT) - automation - not listed on the stock exchange
$ROK Rockwell Automation (US) - industrial automation
$JBL (+1,6 %) Jabil (US) - contract manufacturing (EMS/ODM)
$KIT (-0,14 %) Kitron (NO) - European EMS/ODM manufacturer
$AIXA (+2,28 %) Aixtron (DE) - deposition equipment for compound semiconductors
$LRCX (+1 %)
Lam Research (US) - Etch/deposition systems
$MKSI (+2,09 %)
MKS Instruments (US) - Plasma/vacuum technology
$ASM (-1,53 %)
ASM International (NL) - Deposition systems
1.ASML, 2.Keysight Technologies, 3.Fanuc are my top 3 in this sector
3. chip manufacturing (foundries)
$TSM (+1,86 %) TSMC (TW) - leading foundry
$SMSN (+3,72 %) Samsung Electronics (KR) - foundry + memory
$GFS (+5,29 %) GlobalFoundries (US) - specialty chips
$INTC (+2,62 %)
Intel Foundry Services (US) - new western foundry player
$981
SMIC (CN) - largest Chinese foundry
$UMC
UMC (TW) - Power/RF/Embedded chips
1.TSMC, 2.Intel, 3.Samsung Electronics are my top 3 in this sector
4. computing & control unit ("brain")
$NVDA (-0,69 %) Nvidia (US) - GPUs, AI chips
$INTC (+2,62 %) Intel (US) - CPUs, FPGAs
$AMD (-2,31 %) AMD (US) - CPUs, GPUs
$MRVL (+0,17 %) Marvell (US) - Network Chips
$MU (+13,72 %) Micron (US) - Memory
$DELL (+1,7 %) Dell Technologies (US) - Edge & Infrastructure
Graphcore (UK) - AI chips (IPU) - not a listed company
Cerebras (US) - Wafer-scale engine - not a listed company
SiPearl (FR) - European HPC chip - not a listed company
1.Nvidia, 2.Marvell, 3.Micron are my top 3 in this sector
5. sensors ("senses")
$6758 (-1,18 %) Sony (JP) - image sensors
$6861 (+6,09 %) Keyence (JP) - Industrial sensors
$STM (+0,21 %) STMicroelectronics (FR/IT) - Sensors, MCUs
$TDY Teledyne (US) - optical/infrared sensors
$CGNX (-0,1 %) Cognex (US) - Machine Vision
$HON (-1,77 %) Honeywell (US) - sensor technology, security
ANYbotics (CH) - autonomous sensor fusion - not a listed company
$AMBA (+4,49 %) Ambarella (US) - video & computer vision SoCs for real-time image recognition
$OUST
Velodyne Lidar (US) - Lidar sensors - acquisition by Ouster
$AMS (-1,28 %)
OSRAM (AT/DE) - optical sensors
1.Teledyne, 2.Keyence, 3.Ouster are my top 3 in this sector
6. actuators & power electronics ("muscles")
$IFX (-0,88 %) Infineon (DE) - Power Electronics
$ON (+2,71 %) onsemi (US) - Power & Sensors
$TXN (+0,21 %) Texas Instruments (US) - Mixed-Signal Chips
$ADI (-0,64 %) Analog Devices (US) - Signal Processing
$PH Parker-Hannifin (US) - Hydraulics/Pneumatics
$MP (+1,87 %) MP Materials (US) - Magnets
$APH (-3,35 %) Amphenol (US) - Connectors
$6481 (+0,31 %) THK (JP) - Linear guides & actuators
$6324 (-2,5 %)
Harmonic Drive (JP) - Precision gears & servo drives for robotics
$6594 (+0,06 %)
Nidec (JP) - Electric motors
$6506 (-1,32 %)
Yaskawa (JP) - Drives & Robotics
$SU (-2,8 %)
Schneider Electric (FR) - Energy & control solutions
$ZIL2 (-1,64 %)
ElringKlinger (DE) - Battery & fuel cell technology, lightweight construction
1.Parker-Hannifin, 2.MP Materials, 3.Infinion are my top 3 in this sector
7. communication & networking ("nerves")
$QCOM (-4,04 %) Qualcomm (US) - mobile communications, edge AI
$ANET (+1,4 %) Arista Networks (US) - Networks
$CSCO (+1,53 %) Cisco (US) - Networks, Security
$EQIX (+0,03 %) Equinix (US) - Data centers
NTT Docomo (JP) - 5G/6G carrier - not a listed company
$VZ Verizon (US) - Telecommunications
$SFTBY SoftBank (JP) - Carrier + Robotics
$ERIC B (-1,22 %)
Ericsson (SE) - 5G/IoT infrastructure
$NOKIA (+2,09 %)
Nokia (FI) - 5G/6G for industry
$HPE (+0,61 %)
Juniper Networks (US) - Network technology - acquisition by HP
1.Arista Networks, 2.SoftBank, 3.Cisco are my top 3 in this sector
8. energy supply
$3750 (+4,44 %) CATL (CN) - Batteries
$6752 (+4,65 %) Panasonic (JP) - Batteries
$373220 LG Energy (KR) - Batteries
$ALB (-3,15 %) Albemarle (US) - Lithium
$LYC (-2,93 %) Lynas (AU) - Rare earths
$UMICY (+8,02 %) Umicore (BE) - recycling
WiTricity (US) - inductive charging - not a listed company
$ABBN (-0,83 %) Charging (CH) - charging infrastructure
$SLDP
Solid Power (US) - Solid state batteries
Northvolt (SE) - European batteries - not a listed company
$PLUG
Plug Power (US) - fuel cells
$KULR (+13,81 %)
KULR Technology (US) - Thermal management & battery safety for mobile systems
1.Albemarle, 2.CATL, 3.Panasonic are my top 3 in this sector
9. cloud & infrastructure
$AMZN (+2,76 %) Amazon AWS (US) - Cloud, AI
$MSFT (+1,21 %) Microsoft Azure (US) - Cloud, AI
$GOOG (-0,12 %) Alphabet Google Cloud (US) - Cloud, ML
$VRT (+0,81 %)
Vertiv Holdings (US) - Data center infrastructure (UPS, cooling, edge)
$ORCL (+12,04 %)
Oracle Cloud (US) - ERP + Cloud
$IBM (-0,52 %)
IBM Cloud (US) - Hybrid cloud + AI
$OVH (+4,17 %)
OVHcloud (FR) - European cloud
1.Alphabet, 2.Microsoft, 3.Oracle are my top 3 in this sector
10. software & data platforms
$PLTR (+5,8 %) Palantir (US) - Data integration
$DDOG (+8,62 %) Datadog (US) - Monitoring
$SNOW (+5,42 %) Snowflake (US) - Data Cloud
$ORCL (+12,04 %) Oracle (US) - Databases, ERP
$SAP (+2,42 %) SAP (DE) - ERP systems
$SPGI S&P Global (US) - financial/market data
ROS2 Foundation - robotics middleware - not listed on the stock exchange
$NVDA (-0,69 %) NVIDIA Isaac (US) - robotics development - part of Nvidia
$INOD (+8,4 %) Innodata (US) - data annotation & AI training data
$PATH (+6,13 %)
UiPath (RO/US) - Robotic process automation
$AI (+5,23 %)
C3.ai (US) - AI platform
$ESTC (+8,84 %)
(NL/US) - Search & data analysis
1.S&P Global, 2.Palantir, 3.Datadog are my top 3 in this sector
11. end applications / robots
$ABBN (-0,83 %) ABB (CH/SE) - Industrial Robots
$6954 (-2,27 %) Fanuc (JP) - Industrial robots
$TSLA (+3,08 %) Tesla Optimus (US) - humanoid robot
$9618 (-0,4 %) JD.com (CN) - logistics robot
$AAPL (+2,83 %) Apple (US) - Platform & UX
$700 (-0,11 %) Tencent (CN) - Platform & AI
$9988 (+2,64 %) Alibaba (CN) - logistics & platform
PAL Robotics (ES) - humanoid robots - not a listed company
Neura Robotics (DE) - cognitive humanoid robots - not a listed company
$TER (-1,02 %) Universal Robots (DK) - cobots - belongs to the Teradyne Corporation
Engineered Arts (UK) - humanoid robots - not a listed company
$ISRG (-1,51 %) Intuitive Surgical (US) - surgical robotics
$GMED (+0,64 %)
Globus Medical (US) - surgical robotics (ExcelsiusGPS platform)
$7012 (-1,78 %) Kawasaki Heavy Industries (JP) - industrial robots, automation
$CPNG (+2,7 %) Coupang (KR) - Logistics end user
$IRBT
iRobot (US) - consumer robotics (e.g. Roomba), non-humanoid, but navigation/sensor fusion
Boston Dynamics (US) - humanoid & mobile robots-no listed company
Hanson Robotics (HK) - humanoid robots (Sophia) - not a listed company
Agility Robotics (US) - humanoid robot "Digit" - not a listed company
1.Apple, 2.Tencent, 3.Alibaba are my top 3 in this sector
🛠 2. cross enablers (shovel manufacturers) - with hidden champions
Raw materials & battery materials
Albemarle - Lynas - Umicore
$SQM
SQM (CL) - Lithium
$ILU (+2,17 %)
Iluka Resources (AU) - Rare earths
$ARR (-6,18 %)
American Rare Earths (US/AU) - New supply chains
my number 1 in the sector is Albemarle
manufacturing technology
ASML - Applied Materials - Tokyo Electron
$LRCX (+1 %)
Lam Research (US) - Plasma/etching processes
$ASM (-1,53 %)
ASM International (NL) - ALD equipment
$MKSI (+2,09 %)
MKS Instruments (US) - Plasma/vacuum technology
my number 1 in the sector is ASML
Quality assurance
Keysight - Advantest - Teradyne
$EMR (-2,01 %)
National Instruments (US) - Measurement technology - from Emerson Electric adopted
$300567
ATE Test Systems (CN) - test systems
$FORM (-1,08 %)
FormFactor (US) - Wafer probing
my number 1 in the sector is Keysight
Motion & Drive
Parker-Hannifin
Festo (DE) - Pneumatics, Soft Robotics - not a listed company
Bosch Rexroth (DE) - Drives, Controls - not a listed company
$6481 (+0,31 %)
THK (JP) - Linear guides
my number 1 in the sector is Parker-Hannifin
Sensors/Imaging
$TDY Teledyne
$BSL (+18,18 %) Basler (DE) - Industrial cameras
FLIR (US) - Thermal imaging sensors - acquisition by Teledyne
ISRA Vision (DE) - Machine Vision - not a listed company
my number 1 in the sector is Teledyne
Magnets & Materials
MP Materials
$6501 (-3,78 %)
Hitachi Metals (JP) - Magnetic materials
VacuumSchmelze (DE) - Magnetic materials - not a listed company
$4063 (-0,82 %)
Shin-Etsu Chemical (JP) - Specialty materials
my number 1 in the sector is MP Materials
Chip Design & Simulation
Synopsys - Cadence - ARM
$SIE (-1,27 %)
Siemens EDA (DE/US)-Mentor Graphics-strategic business unit of Siemens AG
Imagination Tech (UK) - GPU-IP - not a listed company
$CEVA (+4,21 %)
CEVA (IL) - Signal Processor IP
my number 1 in the sector is Synopsys
Engineering & Lifecycle
PTC - Dassault - Siemens
Altair (US) - Simulation - no longer a listed company
$HXGBY (-2,72 %)
Hexagon (SE) - Metrology
$SNPS (+2,6 %)
ANSYS (US) - Simulation - takeover by Synopsys
my number 1 in the sector is Siemens
Networks & Data Centers
Arista - Cisco - Equinix
$HPE (+0,61 %)
Juniper (US) - Networks - Acquisition of HPE
$DTE (-1,9 %)
T-Systems (DE) - Industry cloud
$OVH (+4,17 %)
OVHcloud (FR) - European cloud
my number 1 in the sector is Arista
Cloud infrastructure
AWS - Azure - Google Cloud
$ORCL (+12,04 %)
Oracle Cloud (US) - ERP & databases
$IBM (-0,52 %)
IBM Cloud (US) - Hybrid Cloud
$9988 (+2,64 %)
Alibaba Cloud (CN) - Asian Cloud
$VRT (+0,81 %)
Vertiv Holdings (US) - Cloud/Infra
my number 1 in the sector is Alphabet (Google)
finance/information infra
S&P Global
$MCO (-2,03 %)
Moody's (US) - Ratings
$MSCI (-1,02 %)
MSCI (US) - Indices
$MORN
Morningstar (US) - Investment Research
my number 1 in the sector is S&P Global
Creative/Experience Infra
Adobe
$ADSK (+4,26 %)
Autodesk (US) - CAD & Design
$U
Unity (US) - 3D/AR simulation
Epic Games (US) - Unreal Engine - not a listed company
my number 1 in the sector is Adobe
Platform & Ecosystem
Apple - Tencent - Alibaba
$META (-0,05 %)
Meta (US) - AR/VR, Social Robotics
ByteDance (CN) - AI & platforms - not a listed company
$9888 (+2,02 %)
Baidu (CN) - AI & Cloud
my number 1 in the sector is Tencent
Infrastructure/Edge
Dell
$HPE (+0,61 %)
HPE (US) - Edge Computing
$SMCI (+3,61 %)
Supermicro (US) - AI servers
$6702 (-0,5 %)
Fujitsu (JP) - Edge & HPC
my number 1 in the sector is Dell
storage solutions
Micron
$HY9H (+12,47 %)
SK Hynix (KR) - Memory
$285A (+10,7 %)
Kioxia (JP) - NAND
$WDC
Western Digital (US) - Storage solutions
my number 1 in the sector is Micron
🏛 3. secondary key sectors with hidden champions
Financing & Capital
$GS (-1,75 %) Goldman Sachs (US) - investment bank; ECM/DCM, M&A, growth financing
$MS Morgan Stanley (US) - investment bank; tech banking, capital markets
$BLK (-0,73 %) BlackRock (US) - asset manager; capital allocation, ETFs/index funds
$9984 (+6,05 %) SoftBank Vision Fund (JP) - mega VC; growth equity in robotics/AI
Sequoia Capital (US) - venture capital; early/growth in AI/robotics - this is a classic venture capital fund
DARPA (US) - government R&D funding (robotics/defense) - independent research and development agency
EU Horizon (EU) - research funding/grants for DeepTech - Innovative Europe pillar
China State Funds (CN) - state industry/technology fund
Lux Capital (US) - VC for DeepTech - Uptake (US) - AI-based predictive maintenance
DCVC (US) - Robotics & AI focus - investing exclusively via VC fund investments
Speedinvest (AT) - EU VC for robotics - access to investment only via fund investments
my number 1 in the sector is Softbank
Maintenance & Service
$SIE (-1,27 %) Siemens (DE) - Industrial Service, Lifecycle & Retrofit
$ABBN (-0,83 %) ABB (CH/SE) - Robotics Service, Spare Parts, Field Support
$GEHC (-0,51 %) GE Healthcare (US) - Medtech service incl. robotic systems
Uptake (US) - AI-based predictive maintenance - not a listed company
Augury (US/IL) - condition monitoring, condition diagnostics - not a listed company
$KU2 KUKA Service (DE) - Robotics maintenance
$6954 (-2,27 %) Fanuc Service (JP) - global service network
Boston Dynamics AI Institute (US) - Robotics longevity - funded by Hyundai Motor Group
my number 1 in the sector is Siemens
Marketing & Advertising
$WPP (-2,76 %) WPP (UK) - global advertising group; branding/communications
$OMC Omnicom (US) - marketing/PR network
$PUB (+0,21 %) Publicis (FR) - communications/advertising group
$META (-0,05 %) Meta (US) - Digital Ads (Facebook/Instagram)
$GOOG (-0,12 %) Google Ads (US) - search & display advertising
TikTok / ByteDance (CN) - social ads & distribution - not a listed company
$AAPL (+2,83 %) Apple (US) - Branding/UX; Acceptance & Platform Marketing
$WPP (-2,76 %)
AKQA (UK/US) - Tech branding - Since 2012 majority owned by the WPP Groupbut continues to operate as an autonomous operating unit
R/GA (US) - Innovation marketing - not a listed company
Serviceplan (DE) - largest independent EU agency - not a listed company
my number 1 in the sector is Meta
Law, Regulation & Ethics
ISO (CH) - international standards, robotics standards
TÜV (DE) - certification & safety tests
UL (US) - safety/conformity testing
EU AI Act (EU) - legal framework for AI & robotics
UNESCO AI Ethics (UN) - global ethics guidelines
Fraunhofer IPA (DE) - Robotics safety standards
ANSI (US) - standards
IEC (CH) - Electrical engineering standards
Training & Talent
MIT (US) - Robotics/AI Research & Education
ETH Zurich (CH) - autonomous systems & robotics
Stanford (US) - AI/Robotics labs & spin-offs
Tsinghua University (CN) - Robotics/AI in Asia
CMU (US) - Robotics Institute
EPFL (CH) - Robotics research
TU Munich (DE) - humanoid robot "Roboy"
🌍 Top 25 companies for humanoid robotics
These companies are central to the development & production of humanoid robotsbecause without them, crucial parts of the chain would be missing:
Chips & computing power (brain of the robots)
$NVDA (-0,69 %) Nvidia (US) - AI GPUs & Isaac platform, foundation for robotic AI
$2330 TSMC (TW) - world's most important foundry, produces the AI chips
$ASML (-3,43 %) ASML (NL) - EUV lithography, indispensable for chip production
$005930 Samsung Electronics (KR) - memory, logic, foundry
$HY9H (+12,47 %) SK Hynix (KR) - DRAM & NAND memory for AI
$MU (+13,72 %) Micron (US) - Memory solutions for AI workloads
my number 1 in the sector is ASML
Sensors & perception (senses of robots)
$SONY Sony (JP) - image sensors, market leader
$6861 (+6,09 %) Keyence (JP) - Industrial sensors & vision systems
$CGNX (-0,1 %) Cognex (US) - Machine Vision, precise image processing
my number 1 in the sector is Keyence
Actuators & motion (muscles of robots)
$IFX (-0,88 %) Infineon (DE) - power electronics, motor control
$6594 (+0,06 %) Nidec (JP) - World market leader for electric motors
$PH Parker-Hannifin (US) - hydraulics/pneumatics, motion technology
$6481 (+0,31 %) THK (JP) - Linear guides & actuators
my number 1 in the sector is Parker-Hannifin
Communication, cloud & infrastructure (nerves & data flow)
$QCOM (-4,04 %) Qualcomm (US) - Mobile & Edge Chips
$AMZN (+2,76 %) Amazon AWS (US) - Cloud & AI infrastructure
$MSFT (+1,21 %) Microsoft Azure (US) - Cloud, AI services
$CSCO (+1,53 %) Cisco (US) - Networks & Security
$VRT (+0,81 %) Vertiv Holdings (US) - Data Center Infrastructure
my number 1 in the sector is Microsoft
End Applications & Platforms (robots themselves)
$TSLA (+3,08 %) Tesla (US) - humanoid robot Optimus
$ABBN (-0,83 %) ABB (CH/SE) - Robotics & Automation
$6954 (-2,27 %) Fanuc (JP) - industrial robots & CNC systems
$7012 (-1,78 %) Kawasaki Heavy Industries (JP) - industrial robots
PAL Robotics (ES) - humanoid robots (TALOS, ARI, TIAGo) - not a listed company
Neura Robotics (DE) - cognitive humanoid robots - not a listed company
Universal Robots (DK) - cobots
my number 1 in the sector is Tesla
🇪🇺 Top 10 European key companies for humanoid robotics
$ASML (-3,43 %)
ASML (NL)
World market leader in EUV lithography - no modern chips for AI & robotics without ASML.
$IFX (-0,88 %) Infineon (DE)
Leading in power electronics & motor control - crucial for actuators of humanoid robots.
$STM (+0,21 %)
STMicroelectronics (FR/IT)
Sensors, microcontrollers & power chips - the basis for control & perception.
$SAP (+2,42 %)
SAP (DE)
ERP & data platforms, important for integrating humanoid robots into industrial processes.
$SIE (-1,27 %)
Siemens (DE)
Industrial software, automation, digital twin - key for engineering & lifecycle management.
$KU2 KUKA (EN)
Robotics pioneer, industrial robots & automation - know-how for humanoid motion mechanics.
PAL Robotics (ES) - not a listed company
Specialist for humanoid robots (TALOS, ARI, TIAGo), internationally used in research & service.
Neura Robotics (DE) - Not a listed company
Young high-tech company, develops cognitive humanoid robots with advanced AI (4NE-1).
Universal Robots (DK) - Not a listed company
Market leader for cobots - platform for safe human-robot collaboration.
Engineered Arts (UK) - not a listed company
Develops humanoid robots such as Amecaknown for realistic facial expressions & gestures - important for HRI (Human-Robot Interaction)
🌏 Top 10 Asian key companies for humanoid robotics
$2330
TSMC (Taiwan)
World's largest semiconductor foundry, produces high-end chips (e.g. Nvidia, AMD, Apple) - no AI hardware without TSMC.
$005930
Samsung Electronics (South Korea)
Foundry, memory, logic chips, image sensors - extremely broadly positioned in robotics components.
$HY9H (+12,47 %)
SK Hynix (KR) - Memory
$SONY
Sony (Japan)
Market leader in CMOS image sensors, essential for robotic vision & perception.
$6861 (+6,09 %)
Keyence (Japan)
Sensor technology & machine vision for industrial automation, widely used in robotics.
$6954 (-2,27 %)
Fanuc (Japan)
Industrial robots & CNC systems, one of the most important manufacturers of robotics hardware worldwide.
$6506 (-1,32 %)
Yaskawa Electric (Japan)
Drives, motion control & robot arms - relevant for humanoid motion control.
$6594 (+0,06 %)
Nidec (Japan)
World market leader for electric motors (from mini motors to high-performance drives).
$7012 (-1,78 %)
Kawasaki Heavy Industries (JP) - Industrial robots
$9618 (-0,4 %)
JD.com (China)
Driver for robotics in e-commerce & logistics, invests in humanoid robotics applications
The hype is all about humanoid robots, but the constant winners are in the background.
I have divided the analysis into two perspectives. 1. the complete value chain of humanoid robots, which shows all the players from the chip to the finished robot, and 2. the blade manufacturers in the background, who always earn money as enablers, regardless of which manufacturer wins the race.
ASML, Applied Materials and Tokyo Electron dominate in manufacturing technology. Quality assurance comes from Keysight, Advantest and Teradyne. Chip design is supported by Synopsys, Cadence and ARM. Data streams are secured by Arista Networks, Cisco and Equinix. The computing basis is created in the cloud by Amazon, Microsoft and Alphabet. Albemarle, Lynas and Umicore play a central role in raw materials and battery materials. These companies monetize their customers' investment waves, have high barriers to entry, service revenues and pricing power, but remain cyclical with risks from export rules, capex cuts and currency movements.
🌐 Value chain of humanoid robots Sector overview
1. research & chip design (IP / EDA)
$ARM (-2,31 %)
ARM Holdings (ARM, UK/USA) - CPU architectures
$SNPS (+2,6 %)
Synopsys (SNPS, USA) - Chip design software
$CDNS (+5,15 %)
Cadence Design Systems (CDNS, USA) - EDA & Simulation
2. manufacturing technology & equipment
$ASML (-3,43 %)
ASML (ASML, NL) - EUV lithography, key monopoly
$AMAT (-0,31 %)
Applied Materials (AMAT, USA) - Process equipment
$8035 (+2,1 %)
Tokyo Electron (8035.T, JP) - Wafer equipment
$KEYS (+0,7 %)
Keysight Technologies (KEYS, USA) - Test & RF measurement technology
$6857 (-2,33 %)
Advantest (6857.T, JP) - Semiconductor test systems
$TER (-1,02 %)
Teradyne (TER, USA) - Test systems + robotics (Universal Robots)
3. chip production (Foundries)
$TSM (+1,86 %)
TSMC (TSM, TW) - Largest contract manufacturer
$005930
Samsung Electronics (005930.KQ, KR) - Memory + Foundry
$GFS (+5,29 %)
GlobalFoundries (GFS, USA) - Specialized production
4. computing & control unit ("brain")
$NVDA (-0,69 %)
Nvidia (NVDA, USA) - GPUs, AI accelerators
$INTC (+2,62 %)
Intel (INTC, USA) - CPUs, FPGAs
$AMD (-2,31 %)
AMD (AMD, USA) - CPUs/GPUs
$MRVL (+0,17 %)
Marvell Technology (MRVL, USA) - Network/data center chips
5. sensors ("senses")
$6758 (-1,18 %)
Sony (6758.T, JP) - CMOS image sensors
$6861 (+6,09 %)
Keyence (6861.T, JP) - Vision systems, sensors
$STM (+0,21 %)
STMicroelectronics (STM, CH/FR) - MEMS sensors
6. actuators & power electronics ("muscles")
$IFX (-0,88 %)
Infineon (IFX, DE) - Power semiconductors, SiC
$ON (+2,71 %)
N Semiconductor (ON, USA) - SiC/Power Chips
$STM (+0,21 %)
STMicroelectronics (STM, CH/FR) - Motor control & power
$TXN (+0,21 %)
Texas Instruments (TXN, USA) - Motor control, power ICs
$ADI (-0,64 %)
Analog Devices (ADI, USA) - Energy & BMS chips
7. communication & networking ("nerves")
$QCOM (-4,04 %)
Qualcomm (QCOM, USA) - 5G/SoCs
$AVGO (+0,42 %)
Broadcom (AVGO, USA) - Network & radio chips
$SWKS (-1,49 %)
Skyworks Solutions (SWKS, USA) - RF components
8. energy supply
$300750
CATL (300750.SZ, CN) - Batteries
$6752 (+4,65 %)
Panasonic (6752.T, JP) - Batteries for automotive/robotics
$373220
LG Energy Solution (373220.KQ, KR) - Batteries
9. cloud & infrastructure
$AMZN (+2,76 %)
Amazon (AMZN, USA) - AWS
$MSFT (+1,21 %)
Microsoft (MSFT, USA) - Azure
$GOOG (-0,12 %)
Alphabet (GOOGL, USA) - Google Cloud
$EQIX (+0,03 %)
Equinix (EQIX, USA) - Data center operator
$ANET (+1,4 %)
Arista Networks (ANET, USA) - Network infrastructure
$CSCO (+1,53 %)
Cisco Systems (CSCO, USA) - Edge & Data Center Networks
10. software & data platforms
$PLTR (+5,8 %)
Palantir (PLTR, USA) - Data integration, decision software
$DDOG (+8,62 %)
Datadog (DDOG, USA) - Cloud monitoring / observability
$SNOW (+5,42 %)
Snowflake (SNOW, USA) - Cloud-native data platform
$ORCL (+12,04 %)
Oracle (ORCL, USA) - Databases, ERP
$SAP (+2,42 %)
SAP (SAP, DE) - ERP/cloud systems
$PATH (+6,13 %)
UiPath (PATH, USA) - Automation software (RPA)
$AI (+5,23 %)
C3.ai (AI, USA) - Enterprise AI platform
11. end applications / robots
$ABB
ABB (ABB, CH) - Industrial robots
$6954 (-2,27 %)
Fanuc (6954.T, JP) - Industrial robots, CNC
$TSLA (+3,08 %)
Tesla (TSLA, USA) - Optimus" humanoid robot
$9618 (-0,4 %)
JD.com (JD, CN) - E-commerce & automated logistics
🛠️ Shovel manufacturer for humanoid robots
🔹 Hardtech (physical "shovels")
These companies provide the material basis: manufacturing machines, raw materials, semiconductor base.
Semiconductor Equipment & Manufacturing
$ASML (-3,43 %)
ASML (ASML, NL) - EUV lithography (monopoly).
$AMAT (-0,31 %)
Applied Materials (AMAT, USA) - Wafer equipment.
$8035 (+2,1 %)
Tokyo Electron (8035.T, JP) - Process equipment.
Test systems (hardware-side)
$6857 (-2,33 %)
Advantest (6857.T, JP) - Semiconductor test.
$TER (-1,02 %)
Teradyne (TER, USA) - Test systems + industrial robots.
Materials & raw materials
$ALB (-3,15 %)
Albemarle (ALB, USA) - Lithium (batteries).
$LYC (-2,93 %)
Lynas Rare Earths (LYC.AX, AUS) - Rare earths for magnets.
$UMICY (+8,02 %)
Umicore (UMI.BR, BE) - Cathode materials, recycling.
🔹 Soft/infra (digital "shovels")
These companies supply the infrastructure & toolswithout which development, training and operation would be impossible.
Design Software & IP
$SNPS (+2,6 %)
Synopsys (SNPS, USA) - EDA software.
$CDNS (+5,15 %)
Cadence Design Systems (CDNS, USA) - Chip design & simulation.
$ARM (-2,31 %)
ARM Holdings (ARM, UK/USA) - CPU architectures (license model).
Test & Measurement (software/signal level)
$KEYS (+0,7 %)
Keysight Technologies (KEYS, USA) - Electronics & RF test systems.
Network & data center backbone
$ANET (+1,4 %)
Arista Networks (ANET, USA) - High-speed networks.
$CSCO (+1,53 %)
Cisco Systems (CSCO, USA) - Data center/edge networks.
$EQIX (+0,03 %)
Equinix (EQIX, USA) - Data centers (colocation).
Cloud infrastructure
$AMZN (+2,76 %)
Amazon (AMZN, USA) - AWS (cloud, AI training).
$MSFT (+1,21 %)
Microsoft (MSFT, USA) - Azure.
$GOOG (-0,12 %)
Alphabet (GOOGL, USA) - Google Cloud.
Takeaway: Investing in the infrastructure stack allows you to participate in the robotics trend regardless of the subsequent product winner and reduces the individual product risk, but you have to live with cycles. In your opinion, which stage of the chain offers the best risk/return combination and fits into a disciplined portfolio?
Source: Own analysis based on publicly available company information and IR materials of the companies mentioned.
Image material: Techa Tungateja/iStockphoto
