Hello dear Getquin Community,

After $ORCL (+0,65%) 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 (+0,74%) (USA, Nasdaq) → World market leader with >30 % market share, huge data centers & own AI chips (Trainium, Inferentia)

Microsoft Azure - $MSFT (+0,78%) (USA, Nasdaq) → second largest provider, strong AI focus through OpenAI partnership

Google Cloud - $GOOGL (+1,08%) (USA, Nasdaq) → third largest provider, specialized in AI workloads & big data

Oracle Cloud Infrastructure (OCI) - $ORCL (+0,65%) (USA, NYSE) → Number 4 worldwide, currently fastest growth (+70-80 %), RPO USD 455 bn

Alibaba Cloud - $BABA (-1,92%) , $9988 (-1,35%) (China, NYSE/HKEX) → Market leader in Asia, complete cloud suite from IaaS to AI

Favorite: Oracle - $ORCL (+0,65%)

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 (-1,92%) , $9988 (-1,35%)

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 (+0,28%) 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 (+0,15%) DE (Deutsche Telekom, Germany) → Hybrid & Sovereign Cloud for Public Sector

IONOS - $IOS (+0,44%) 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 (+0,28%)

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 (-1,54%) , $9888 (-1,22%) (Nasdaq, China/USA) → AI workloads, autonomous driving, language models

JD Cloud - part of $JD (-1,76%) , $9618 (-1,77%) (Nasdaq, China/USA) → Cloud for e-commerce & retail

Kingsoft Cloud - $KC (-1,39%) , $3896 (-0,79%) (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 (-1,39%) , $3896 (-0,79%)

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 (-0,3%) T (Tokyo) → Enterprise cloud with global network

NEC Cloud - $6701 (+2,24%) T (Tokyo) → Government & security solutions

Fujitsu Cloud K5 - $6702 (+0,14%) T (Tokyo) → Hybrid cloud for large companies

Rakuten Symphony Cloud - part of $4755 (-0,54%) T (Tokyo) → 5G & telecom cloud

IIJ Cloud - $3774 (-1,53%) T (Tokyo) → Cloud pioneer for enterprise IT

Favorite: NTT - $9432 (-0,3%)

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 (+3,15%) KQ (Korea KOSDAQ) → Enterprise & IoT Cloud

KT Cloud - part of $030200 KQ (Korea KOSDAQ) → Telecom & Edge Cloud with 5G

Telstra Cloud - $TLS (-0,51%) 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 (+0,29%) (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 (+0,28%) 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 (+0,84%) (USA, Nasdaq) → GPUs for AI training & cloud

AMD - $AMD (+0,83%) (USA, Nasdaq) → CPUs/GPUs for Data Center

Intel - $INTC (+1,01%) (USA, Nasdaq) → Server CPUs & AI accelerators (Gaudi)

TSMC - $TSM (+0,79%) (Taiwan, NYSE/TWSE) → largest chip manufacturer, produces for NVIDIA/AMD

Samsung Electronics - $SMSN (+3,15%) KQ (Korea) → Memory, foundry, GPUs/CPUs

Favorite: Nvidia - $NVDA (+0,84%)

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 (+1,32%) (USA, Nasdaq) → GPU clusters & AI servers

Dell Technologies - $DELL (+0,88%) (USA, NYSE) → Enterprise Servers & Storage

Hewlett Packard Enterprise - $HPE (+0,33%) (USA, NYSE) → Hybrid Cloud & Edge

Inspur - private (China) → AI & Cloud Server

Lenovo - $LNVGY (+0%) (China/ADR) → HPC and AI servers

Favorite: Supermicro - $SMCI (+1,32%)

Moat: Specialization in GPU clusters and AI servers. Compounder: benefits from every expansion of the hyperscalers, extremely high scalability.

⚡ Memory & network chips

Micron - $MU (+1,07%) (USA, Nasdaq) → DRAM & HBM memory

SK Hynix - $HY9H (+6,57%) KQ (Korea) → Memory chips, HBM for NVIDIA

Broadcom - $AVGO (+1,08%) (USA, Nasdaq) → Network Chips & Switches

Marvell - $MRVL (+1%) (USA, Nasdaq) → Network & 5G chips

ASE Technology - $ASX (+1,57%) (Taiwan, NYSE) → Packaging for high-end chips

Favorite: Broadcom - $AVGO (+1,08%)

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 (+0,49%) (USA, Nasdaq) → largest colocation provider worldwide

Digital Realty - $DLR (-0,4%) (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 (-0,3%) T (Tokyo) → Data centers in Asia/Europe

NEXTDC - $NXT (+1%) AX (Australia) → Growing data centers in the APAC region

Favorite: Equinix - $EQIX (+0,49%)

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 (+0%) PA (France, Euronext) → Power & Cooling for Data Center

ABB - $ABBN (-0,02%) (Switzerland, SIX/NYSE ADR) → Energy & Automation

Siemens Energy - $ENR (+0,92%) (Germany, Xetra) → Power Grids & Data Center Technology

Vertiv - $VRT (+1,63%) (USA, NYSE) → Cooling, Racks & UPSs

Eaton - $ETN (+0,51%) (Ireland/USA, NYSE) → Power Management

Favorite: Schneider Electric - $SU (+0%)

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 (+0,45%) (USA, Nasdaq) → Router & Network Hardware

Arista Networks - $ANET (+1,23%) (USA, NYSE) → High-speed switches for hyperscalers

Juniper Networks - Acquisition by $HPE (+0,33%) Hewlett Packard HP (USA, NYSE) → Routing & Network Security

Ciena - $CIEN (+1,28%) (USA, NYSE) → Fiber Optics & Optical Networks

Nokia - $NOK (+0,5%) (Finland, NYSE/Helsinki) → 5G & Core Networks

Favorite: Arista Networks - $ANET (+1,23%)

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

Hello dear Getquin Community,

Over the past few days, I have been working intensively on the topic of cyber security and its fundamental importance in various sectors such as healthcare, technology, energy, armaments & defense, e-commerce, software, insurance, industry, utilities, commodities, banks, fintech, holdings, crypto and blockchain. I took a closer look at the big players, the hidden champions and the essential blade manufacturers in the industry. My aim was to gain as comprehensive a picture as possible of the different levels of this industry.

If I have overlooked any important aspects or have not categorized something correctly, I look forward to your comments and interesting additions @Tenbagger2024
@Multibagger
@Simpson
@Vegasrobaina . Together we can understand the topic even better and learn from each other.

Feel free to leave a 👍. I wish you every success with your investments 🚀

At the request of @Multibagger I have subsequently added my personal favorites in each sector. I have an investment horizon of five to ten years. In addition to the quarterly figures, my main focus was on the long-term competitive advantages and the strength of the respective moat.

Contribution:

Cybersecurity is evolving from a peripheral topic to the foundation of global markets. Whether healthcare, banking, utilities, armaments & defense, energy, industry or the digital infrastructure for artificial intelligence and blockchain, the need for protection mechanisms is increasing everywhere. While the big players such as $PANW (+0,56%) Palo Alto Networks, $CRWD (+0,36%) CrowdStrike or $ZS (+0,8%) Zscaler are in the spotlight, more and more specialized providers are emerging that are essential in their niches and often have disproportionately high growth potential. Hidden champions such as $SECT B (+0%) Sectra in the healthcare sector, $NCNO (+0,77%) nCino in the banking sector or $ESTC (+0,43%) Elastic in the data center show that cyber security has long been a diversified ecosystem. In addition, we must not overlook the blade manufacturers, i.e. the companies that provide the technological basis. These include chip manufacturers such as $NVDA (+0,84%) , $INTC (+1,01%) Intel or $AMD (+0,83%) AMD, data center operators such as $EQIX (+0,49%) Equin$DLR (-0,4%) Digital Realty as well as software and infrastructure providers such as $ESTC (+0,43%) Elastic, $DDOG (+1,07%) Datadog or $ANET (+1,23%) Arista Networks, without whose technology the security providers' solutions would not be scalable. The capital markets are reacting to this with valuation premiums, as the dependence on secure infrastructures is comparable to electrification in the 20th century. Investors are now faced with the question of whether to favor the established market leaders or invest in smaller companies that fly under the radar but could potentially be the real winners of tomorrow.

🔑Takeaway:

Cybersecurity is not an isolated trend, but a key investment factor across all industries from hospitals to data centers from payments to crypto platforms.

Healthcare

Major players:

$PANW (+0,56%) Palo Alto Networks (PANW), $FTNT (+0,58%) Fortinet (FTNT), $CHKP (+0,62%) Check Point (CHKP), $CRWD (+0,36%) CrowdStrike (CRWD), $S (+1,13%) SentinelOne (S), $CYBR (+0,48%) CyberArk (CYBR), $ZS (+0,8%) Zscaler (ZS), $NET (+1,33%) Cloudflare (NET), $AKAM (+0,31%) Akamai Tech. (AKAM)

- Core provider for firewalls, zero trust, endpoint and web security

My top 2 recommendation in this sector are $ZS (+0,8%) Zscaler global Zero Trust Exchange, huge barrier to entry as infrastructure is built globally and $PANW (+0,56%) All-in-one platform, extremely high customer retention, hard to replace + acquisition of the company $CYBR (+0,48%)

Hidden champions:

$SECT B (+0%) Sectra (SECT-B.ST) - secure imaging & healthcare security

$VRNS (+0,66%) Varonis Systems (VRNS) - protection of sensitive patient data

Imprivata (private, partnerships with listed players) - identity management for clinics

My top recommendation
$SECT B (+0%) Niche leadership in healthcare security & medical technology

Blade manufacturer:

$NVDA (+0,84%) Nvidia (NVDA), $INTC (+1,01%) Intel (INTC), $AMD (+0,83%) AMD (AMD) - Chips & computing power for security appliances

$EQIX (+0,49%) Equinix (EQIX), $DLR (-0,4%) Digital Realty (DLR) - Data center infrastructure for clinical data

$ESTC (+0,43%) Elastic (ESTC), $DDOG (+1,07%) Datadog (DDOG) - basic software for monitoring & analytics

My top 2 recommendations are $NVDA (+0,84%) - GPUs, quasi-monopoly in high-end compute and $EQIX (+0,49%) - largest global colocation provider, enormous switching costs

🔑 Takeaway healthcare

Healthcare data is highly sensitive and clinics are at high risk of ransomware. In addition to large security providers, hidden champions such as Sectra and Varonis are gaining in importance as they secure directly at the interface between patient data and medical devices.

Technology, Data centers & AI, Telecommunications

Major players:

$ZS (+0,8%) Zscaler (ZS), $S (+1,13%) SentinelOne (S), $CHKP (+0,62%) Check Point (CHKP)

- Protection for cloud and AI environments

My top recommendation $ZS (+0,8%) - Global Zero Trust Exchange, almost impossible to copy

Hidden champions:

$ESTC (+0,43%) Elastic (ESTC) - Security-Analytics

$ANET (+1,23%) Arista Networks (ANET)

- Network switches for data centers

My top recommendation $ANET (+1,23%) - High-end switches, hyperscaler customers

Shovel manufacturer:

$EQIX (+0,49%) Equinix (EQIX), $DLR (-0,4%) Digital Realty (DLR)

- Data center infrastructure

$NVDA (+0,84%) Nvidia (NVDA), $INTC (+1,01%) Intel (INTC), $MRVL (+1%) Marvell Tech. (MRVL)

- Chips & computing power for AI and security

My top 2 recommendation $NVDA (+0,84%) - GPUs, quasi-monopoly in high-end compute and $EQIX (+0,49%) - largest global colocation provider, enormous switching costs

Special players Telecommunications

$AKAM (+0,31%) Akamai Tech. (AKAM) & Cloudflare (NET) - secure traffic and mobile data

$RDWR (+0,91%) Radware (RDWR) - DDoS protection for telcos

$CSCO (+0,45%) Cisco (CSCO) - network security for carriers

$CLAV (-1,17%) Clavister Holding AB (CLAV) - through SD-WAN and carrier security

My top recommendation $AKAM (+0,31%) - Established CDN + Security

🔑 Takeaway technology, data centers & AI

Data centers and AI platforms are the backbone of the digital economy. Zero Trust and cloud security from Zscaler or SentinelOne meet shovel manufacturers such as Equinix or Nvidia, who are indispensable with infrastructure and chips.

Energy

Major players:

$FTNT (+0,58%) Fortinet (FTNT, NASDAQ) - OT/ICS security for power grids and power plants

$PANW (+0,56%) Palo Alto Networks (PANW, NASDAQ) - Zero Trust & network protection for energy suppliers

$CHKP (+0,62%) Check Point (CHKP, NASDAQ) - Critical infrastructure protection, gas and oil industry

My top recommendation $FTNT (+0,58%) - ASIC hardware + software, cost advantage

Hidden champions:

Dragos (private, IPO candidate) - leader in OT security, specialized in energy infrastructures

$RDWR (+0,91%) Radware (RDWR, NASDAQ) - DDoS defense for energy networks

$NCC (+0%) NCC Group (NCC.L, London) - penetration tests & audits for utilities

$CLAV (-1,17%) Clavister Holding AB (CLAV) - OT/ICS and infrastructure security

My top recommendation $CLAV (-1,17%) - small niche player (carrier security)

Shovel manufacturer:

$SBGSY (+0,44%) Schneider Electric (SBGSY, OTC) - OT/ICS hardware with security components

$ENR (+0,92%) Siemens Energy (ENR, Frankfurt) - Energy infrastructure with embedded security solutions

$AVGO (+1,08%) Broadcom (AVGO, NASDAQ) - Security chips for networks in energy environments

My top recommendation $AVGO (+1,08%) - Chip giant + Symantec Enterprise Security

E-Commerce

Major players:

$NET (+1,33%) Cloudflare (NET, NYSE) - DDoS and API protection for online stores & payment platforms

$AKAM (+0,31%) Akamai (AKAM, NASDAQ) - Application security & bot management in e-commerce

$FFIV (+0,77%) F5 Networks (FFIV, NASDAQ) - API & payment security for digital platforms

My top recommendation $NET (+1,33%) - worldwide network for DDoS/API, network effects

Hidden Champions:

$RSKD (+0,52%) Riskified (RSKD, NYSE) - Fraud prevention in online trading

$VRNS (+0,66%) Varonis Systems (VRNS, NASDAQ) - Protection of customer data

$CYBR (+0,48%) CyberArk (CYBR, NASDAQ) - Identity & access protection for payment processes

My top recommendation $CYBR (+0,48%) - Standard for Privileged Access

Shovel manufacturer:

$V (+0,51%) Visa (V, NYSE) & $MA (+1,12%) Mastercard (MA, NYSE) - not classic cybersecurity, but operators of secure payment networks

$ESTC (+0,43%) Elastic (ESTC, NYSE) - fraud analytics for e-commerce platforms

$DDOG (+1,07%) Datadog (DDOG, NASDAQ) - monitoring & security analytics for retail infrastructure

My top recommendation $V (+0,51%) - Global payment network, enormous network effect

🔑 Takeaway:

Energy is particularly vulnerable due to OT/ICS systems, specialists such as Dragos are emerging here.

E-commerce needs fraud prevention in addition to traditional web security, which is why players such as Riskified are occupying a niche.

Armaments & Defense

Major players:

$NOC (+0,03%) Northrop Grumman (NOC, NYSE) - leader in cyberdefense for military & intelligence agencies, also developing offensive cyber capabilities

$BAESY (-2,73%) BAE Systems (BAESY, OTC) - strong cyber intelligence division, protects critical military and government networks

$RTX (+0,49%) Raytheon Technologies (RTX, NYSE) - defense company with growing cybersecurity portfolio for military communications & satellites

My top recommendation $NOC (+0,03%) - Top defense contractor with cyber dominance

Hidden champions:

$PLTR (+1,01%) Palantir Technologies (PLTR, NYSE) - Data and analytics platform with strong cybersecurity component, often for defense contractors

$CACI (+0,76%) CACI International (CACI, NYSE) - specializes in cyber intelligence, network protection and military IT services

$LDOS (+0,51%) Leidos Holdings (LDOS, NYSE) - IT and cybersecurity service provider for US defense and NATO

$CLAV (-1,17%) Clavister Holding AB (CLAV) - used by government and military organizations

$ADVE Advenica (ADVE) - Specialized security, relevant for government agencies and national infrastructure

My top recommendation $CACI (+0,76%) - Cyber intelligence, deep roots in the defense sector

Shovel manufacturer:

$LHX (+0,42%) L3Harris Technologies (LHX, NYSE) - provides communications and cyber hardware for military networks

$GD (+0,14%) General Dynamics (GD, NYSE) - with its IT division GDIT also a provider of cyber defense infrastructure

$KTOS (+2,35%) Kratos Defense (KTOS, NASDAQ) - specializes in drones, satellite systems and cyber hardening of defense communications

My top recommendation $GD (+0,14%) - strong role in defense cyber with GDIT

🔑 Takeaway:

In the defence sector, the boundaries between traditional defense and cybersecurity are becoming blurred. Alongside the large defense contractors, hidden champions such as Palantir, CACI and Leidos are emerging to provide pure cyber and data expertise. Shovel manufacturers such as L3Harris and Kratos secure the technical infrastructure.

Software & insurance

Big players:

$OKTA (+0,81%) Okta (OKTA), $CYBR (+0,48%) CyberArk (CYBR), $CRWD (+0,36%) CrowdStrike (CRWD)

- Identity, endpoint and cloud security

My top recommendation $CRWD (+0,36%) - Network effect through Falcon & Threat Graph

Hidden champions:

$VRNS (+0,66%) Varonis (VRNS) - Data Security

SailPoint (private, formerly NYSE) - Identity Governance

$FROG (-0%) JFrog (FROG) - DevSecOps & Supply-Chain-Security

$CYBE (+0%) CyberCatch Holdings, Inc (CYBE) - Provides AI-based cybersecurity SaaS

$GEN (+0%) Gen Digital (GEN) - one of the largest consumer cybersecurity providers worldwide (Norton, Avast, LifeLock), strong in identity protection and data protection for consumers & small businesses

$RBRK (+0,4%) Rubrik (RBRK) - data compliance and security in the area of cloud data security

My top recommendation $GEN (+0%) - Consumer security giant (Norton, Avast, LifeLock), strong brand power

Shovel manufacturer:

$MSFT (+0,78%) (MSFT), $GOOG (+1,16%) Alphabet (GOOGL), $AMZN (+0,74%) Amazon (AMZN)

- Cloud security base

$FFIV (+0,77%) F5 Networks (FFIV) - API protection for SaaS & insurance platforms

My top recommendation $GOOG (+1,16%) - global cloud security + Mandiant, strong moat through infrastructure & Threat Intel

🔑 Takeaway Software & Insurance

Data and identity protection take center stage. Major players such as Okta and CyberArk secure access, while hidden champions such as Varonis and JFrog provide specialist solutions. Cloud providers such as Microsoft and Amazon are both platform operators and security suppliers.

Industry, supply & raw materials

Major players:

$FTNT (+0,58%) Fortinet (FTNT), $CSCO (+0,45%) Cisco (CSCO), $PANW (+0,56%) Palo Alto Networks (PANW)

- Network protection for critical infrastructures

My top recommendation $FTNT (+0,58%) - ASIC hardware + software, cost advantage

Hidden champions:

$RDWR (+0,91%) Radware (RDWR) - DDoS protection

$NCC (+0%) NCC Group (NCC.L) - OT-Security & Penetration Tests

$SECT B (+0%) Sectra (SECT-B.ST) - secure infrastructure in the OT/healthcare intersection

$CLAV (-1,17%) Holding AB CLAV) - OT/ICS and infrastructure security

$ADVE Advenica (ADVE) - Specialized security, relevant for public authorities and national infrastructure

My top recommendation $ADVE - Specialized Crypto/OT-Security for public authorities

Shovel manufacturer:

$AVGO (+1,08%) Broadcom (AVGO) - security chips

Juniper Networks (JNPR) - network backbones

$ANET (+1,23%) Arista Networks (ANET) - high-end switches

My top recommendation $AVGO (+1,08%) - Chip-Giant + Symantec Enterprise Security

🔑 Takeaway Industry, Utilities & Commodities

OT/ICS systems in production, energy and raw materials are attractive targets. Fortinet and Palo Alto dominate, but hidden champions such as Radware and the NCC Group offer special expertise for attacks on industrial control systems.

Banks, Fintech & Holdings

Big players:

$CRWD (+0,36%) CrowdStrike (CRWD), $PANW (+0,56%) Palo Alto Networks (PANW), $ZS (+0,8%) Zscaler (ZS)

- Core protection for banks & digital platforms

My top recommendation $ZS (+0,8%) - Global Zero Trust Exchange, almost impossible to copy

Hidden champions:

$NCNO (+0,77%) nCino (NCNO) - Cloud Banking Security

$NCC (+0%) NCC Group (NCC.L) - Audits & Compliance

$CYBE (+0%) CyberCatch Holdings, Inc (CYBE) - Provides AI-based cybersecurity SaaS

$GEN (+0%) Gen Digital (GEN) - through fraud prevention and identity topics

My top recommendation $GEN (+0%) - Consumer security giant (Norton, Avast, LifeLock), strong brand power

Shovel manufacturer:

$FFIV (+0,77%) F5 Networks (FFIV) - API security for payments

$AKAM (+0,31%) Akamai Tech. (AKAM) - Web & Payment Security

$ESTC (+0,43%) Elastic (ESTC) - Fraud Analytics

My top recommendation $FFIV (+0,77%) - Leader in Application & API Security

🔑 Takeaway Banks, Fintech & Holdings

High regulatory pressure makes cybersecurity a mandatory field. In addition to established providers, banks are relying on hidden champions such as nCino or Darktrace for cloud banking and anomaly detection. Shovel manufacturers such as F5 or Akamai secure payment APIs and banking portals.

Crypto & blockchain

Big players:

$PANW (+0,56%) Palo Alto Networks (PANW), $FTNT (+0,58%) Fortinet (FTNT), $CRWD (+0,36%) CrowdStrike (CRWD)

- Core protection for exchanges, wallets and blockchain infrastructure

My top recommendation $FTNT (+0,58%) - ASIC hardware + software, cost advantage

Hidden champions:

$BBAI (+2,42%) BigBear.ai (BBAI) - Blockchain Fraud Detection

$RIOT (+1,17%) Riot Platforms (RIOT) - Mining with a focus on security

$CHKP (+0,62%) Check Point - the new blockchain firewall initiative (Web3)

My top recommendation $CHKP (+0,62%) - Strong brand & existing customers, but limited innovative strength

Shovel manufacturer:

$NVDA (+0,84%) Nvidia (NVDA), AMD (AMD) - chips & mining hardware

$NET (+1,33%) Cloudflare (NET), $AKAM (+0,31%) Akamai Tech. (AKAM)

- Network protection for wallets & exchanges

My top recommendation $NVDA (+0,84%) - GPUs, quasi-monopoly in high-end compute

🔑 Takeaway crypto & blockchain

Crypto ecosystems are heavily affected by attacks on exchanges, wallets and smart contracts. While traditional security players provide protection, niche providers such as BigBear.ai and Riskified are emerging that specialize specifically in fraud and blockchain risks.

Source: Own analysis, image material: schwarz-digits

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)

AdditionallyTop 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.

https://www.stern.de/panorama/wissen/humanoider-roboter---wie-reagiert-er-auf-beleidigungen--35996156.html

Thank you for your attention and your support 🙏

🌐 1. value chain of humanoid robots (with hidden champions)

1. research & chip design

$ARM (+0,92%) ARM (UK) - CPU-IP, energy-efficient processors

$SNPS (+0,63%) Synopsys (US) - EDA software, chip design

$CDNS (+0,68%) Cadence (US) - EDA & Simulation

$PTC PTC (US) - Engineering Software, CAD/PLM

$DSY (+0,22%) Dassault Systèmes (FR) - 3D Design & Digital Twin

$SIE (+0,13%) Siemens (DE) - Industrial Software & Lifecycle Mgmt

$ADBE (+0,56%) Adobe (US) - Design, AR/UX

ANSYS (US) - multiphysical simulation - acquisition by Synopsis

Altair (US) - CAE, simulation, digital twin - acquisition by Siemens

$HXGBY (+0,25%)
Hexagon (SE) - Metrology & Simulation

$AWE (+0%) 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 (+0,42%) ASML (NL) - Lithography (EUV)

$AMAT (+0,85%) Applied Materials (US) - Semiconductor equipment

$8035 (+3,82%) Tokyo Electron (JP) - wafer fabrication

$KEYS (+0,4%) Keysight Technologies (US) - Metrology

$6857 (+4,66%) Advantest (JP) - Chip test systems

$TER (+1,32%) Teradyne (US) - test systems + cobots

$6954 (+1,57%) Fanuc (JP) - Industrial robots, CNC

$CAT (+0,2%) 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 (+0,39%) Jabil (US) - contract manufacturing (EMS/ODM)

$KIT (+0%) Kitron (NO) - European EMS/ODM manufacturer

$AIXA (+0,98%) Aixtron (DE) - deposition equipment for compound semiconductors

$LRCX (+1,31%)
Lam Research (US) - Etch/deposition systems

$MKSI (+0,72%)
MKS Instruments (US) - Plasma/vacuum technology

$ASM (+0,87%)
ASM International (NL) - Deposition systems

1.ASML, 2.Keysight Technologies, 3.Fanuc are my top 3 in this sector

3. chip manufacturing (foundries)

$TSM (+0,79%) TSMC (TW) - leading foundry

$005930 Samsung Electronics (KR) - foundry + memory

$GFS (+0,7%) GlobalFoundries (US) - specialty chips

$INTC (+1,01%)
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 (+0,84%) Nvidia (US) - GPUs, AI chips

$INTC (+1,01%) Intel (US) - CPUs, FPGAs

$AMD (+0,83%) AMD (US) - CPUs, GPUs

$MRVL (+1%) Marvell (US) - network chips

$MU (+1,07%) Micron (US) - Memory

$DELL (+0,88%) 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 (+3,34%) Sony (JP) - image sensors

$6861 (+1,12%) Keyence (JP) - Industrial sensors

$STM (+0,43%) STMicroelectronics (FR/IT) - Sensors, MCUs

$TDY Teledyne (US) - optical/infrared sensors

$CGNX (+0,43%) Cognex (US) - Machine Vision

$HON (+0,57%) Honeywell (US) - sensor technology, security

ANYbotics (CH) - autonomous sensor fusion - not a listed company

$AMBA (+0,58%) Ambarella (US) - video & computer vision SoCs for real-time image recognition

$OUST
Velodyne Lidar (US) - Lidar sensors - acquisition by Ouster

$AMS (+0,09%)
-OSRAM (AT/DE) - optical sensors

1.Teledyne, 2.Keyence, 3.Ouster are my top 3 in this sector

6. actuators & power electronics ("muscles")

$IFX (+0,51%) Infineon (DE) - Power Electronics

$ON (+0,77%) onsemi (US) - Power & Sensors

$TXN (+0,9%) Texas Instruments (US) - Mixed-Signal Chips

$ADI (+1,17%) Analog Devices (US) - Signal Processing

$PH Parker-Hannifin (US) - Hydraulics/Pneumatics

$MP (+1,41%) MP Materials (US) - Magnets

$APH (+0,22%) Amphenol (US) - Connectors

$6481 (-0,42%) THK (JP) - Linear guides & actuators

$6324 (+0%)
Harmonic Drive (JP) - Precision gears & servo drives for robotics

$6594 (+0,29%)
Nidec (JP) - Electric motors

$6506 (+1,7%)
Yaskawa (JP) - Drives & Robotics

$SU (+0%)
Schneider Electric (FR) - Energy & control solutions

$ZIL2 (+0,11%)
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 (+0,74%) Qualcomm (US) - mobile communications, edge AI

$ANET (+1,23%) Arista Networks (US) - Networks

$CSCO (+0,45%) Cisco (US) - Networks, Security

$EQIX (+0,49%) 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 (+0,09%)
Ericsson (SE) - 5G/IoT infrastructure

$NOKIA (+0,56%)
Nokia (FI) - 5G/6G for industry

$HPE (+0,33%)
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 (-0,55%) CATL (CN) - Batteries

$6752 (+2,37%) Panasonic (JP) - Batteries

$373220 LG Energy (KR) - Batteries

$ALB (+0,17%) Albemarle (US) - Lithium

$LYC (+1,18%) Lynas (AU) - Rare earths

$UMICY (+0%) Umicore (BE) - recycling

WiTricity (US) - inductive charging - not a listed company

$ABBN (-0,02%) 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 (+0,26%)
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 (+0,74%) Amazon AWS (US) - Cloud, AI

$MSFT (+0,78%) Microsoft Azure (US) - Cloud, AI

$GOOG (+1,16%) Alphabet Google Cloud (US) - Cloud, ML

$VRT (+1,63%)
Vertiv Holdings (US) - Data center infrastructure (UPS, cooling, edge)

$ORCL (+0,65%)
Oracle Cloud (US) - ERP + Cloud

$IBM (+0,41%)
IBM Cloud (US) - Hybrid cloud + AI

$OVH (+0,28%)
OVHcloud (FR) - European cloud

1.Alphabet, 2.Microsoft, 3.Oracle are my top 3 in this sector

10. software & data platforms

$PLTR (+1,01%) Palantir (US) - Data integration

$DDOG (+1,07%) Datadog (US) - Monitoring

$SNOW (+0,51%) Snowflake (US) - Data Cloud

$ORCL (+0,65%) Oracle (US) - Databases, ERP

$SAP (-0,17%) SAP (DE) - ERP systems

$SPGI (+0,68%) S&P Global (US) - financial/market data

ROS2 Foundation - robotics middleware - not listed on the stock exchange

$NVDA (+0,84%) NVIDIA Isaac (US) - robotics development - part of Nvidia

$INOD (+1,55%) Innodata (US) - data annotation & AI training data

$PATH (+1,24%)
UiPath (RO/US) - Robotic process automation

$AI (+0,98%)
C3.ai (US) - AI platform

$ESTC (+0,43%)
(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 (-0,02%) ABB (CH/SE) - Industrial Robots

$6954 (+1,57%) Fanuc (JP) - Industrial robots

$TSLA (+1,41%) Tesla Optimus (US) - humanoid robot

$9618 (-1,77%) JD.com (CN) - logistics robot

$AAPL (+0,43%) Apple (US) - Platform & UX

$700 (-3,35%) Tencent (CN) - Platform & AI

$9988 (-1,35%) Alibaba (CN) - logistics & platform

PAL Robotics (ES) - humanoid robots - not a listed company

Neura Robotics (DE) - cognitive humanoid robots - not a listed company

$TER (+1,32%) Universal Robots (DK) - cobots - belongs to the Teradyne Corporation

Engineered Arts (UK) - humanoid robots - not a listed company

$ISRG (+0,52%) Intuitive Surgical (US) - surgical robotics

$GMED (+0,63%)
Globus Medical (US) - surgical robotics (ExcelsiusGPS platform)

$7012 (-0,86%) Kawasaki Heavy Industries (JP) - industrial robots, automation

$CPNG (-0,16%) Coupang (KR) - Logistics end user

$IRBT (+0,8%)
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 (+1,2%)
Iluka Resources (AU) - Rare earths

$ARR (-4,05%)
American Rare Earths (US/AU) - New supply chains

my number 1 in the sector is Albemarle

manufacturing technology

ASML - Applied Materials - Tokyo Electron

$LRCX (+1,31%)
Lam Research (US) - Plasma/etching processes

$ASM (+0,87%)
ASM International (NL) - ALD equipment

$MKSI (+0,72%)
MKS Instruments (US) - Plasma/vacuum technology

my number 1 in the sector is ASML

Quality assurance

Keysight - Advantest - Teradyne

$EMR (+1,36%)
National Instruments (US) - Measurement technology - from Emerson Electric adopted

$300567
ATE Test Systems (CN) - test systems

$FORM (+0,74%)
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 (-0,42%)
THK (JP) - Linear guides

my number 1 in the sector is Parker-Hannifin

Sensors/Imaging

$TDY Teledyne

$BSL (+0,96%) 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 (+0,29%)
Hitachi Metals (JP) - Magnetic materials

VacuumSchmelze (DE) - Magnetic materials - not a listed company

$4063 (-0,06%)
Shin-Etsu Chemical (JP) - Specialty materials

my number 1 in the sector is MP Materials

Chip Design & Simulation

Synopsys - Cadence - ARM

$SIE (+0,13%)
Siemens EDA (DE/US)-Mentor Graphics-strategic business unit of Siemens AG

Imagination Tech (UK) - GPU-IP - not a listed company

$CEVA (+0,48%)
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 (+0,25%)
Hexagon (SE) - Metrology

$SNPS (+0,63%)
ANSYS (US) - Simulation - takeover by Synopsys

my number 1 in the sector is Siemens

Networks & Data Centers

Arista - Cisco - Equinix

$HPE (+0,33%)
Juniper (US) - Networks - Acquisition of HPE

$DTE (+0,15%)
T-Systems (DE) - Industry cloud

$OVH (+0,28%)
OVHcloud (FR) - European cloud

my number 1 in the sector is Arista

Cloud infrastructure

AWS - Azure - Google Cloud

$ORCL (+0,65%)
Oracle Cloud (US) - ERP & databases

$IBM (+0,41%)
IBM Cloud (US) - Hybrid Cloud

$9988 (-1,35%)
Alibaba Cloud (CN) - Asian Cloud

$VRT (+1,63%)
Vertiv Holdings (US) - Cloud/Infra

my number 1 in the sector is Alphabet (Google)

finance/information infra

S&P Global

$MCO
Moody's (US) - Ratings

$MSCI (+0,49%)
MSCI (US) - Indices

$MORN
Morningstar (US) - Investment Research

my number 1 in the sector is S&P Global

Creative/Experience Infra

Adobe

$ADSK (+0,58%)
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 (+0,75%)
Meta (US) - AR/VR, Social Robotics

ByteDance (CN) - AI & platforms - not a listed company

$9888 (-1,22%)
Baidu (CN) - AI & Cloud

my number 1 in the sector is Tencent

Infrastructure/Edge

Dell

$HPE (+0,33%)
HPE (US) - Edge Computing

$SMCI (+1,32%)
Supermicro (US) - AI servers

$6702 (+0,14%)
Fujitsu (JP) - Edge & HPC

my number 1 in the sector is Dell

storage solutions

Micron

$000660
SK Hynix (KR) - Memory

$285A (+3,57%)
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 (+0,48%) Goldman Sachs (US) - investment bank; ECM/DCM, M&A, growth financing

$MS Morgan Stanley (US) - investment bank; tech banking, capital markets

$BLK (+0,45%) BlackRock (US) - asset manager; capital allocation, ETFs/index funds

$9984 (+0,37%) 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 (+0,13%) Siemens (DE) - Industrial Service, Lifecycle & Retrofit

$ABBN (-0,02%) ABB (CH/SE) - Robotics Service, Spare Parts, Field Support

$GEHC (+0,48%) 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 (+1,57%) 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 (+0,22%) WPP (UK) - global advertising group; branding/communications

$OMC Omnicom (US) - marketing/PR network

$PUB (+0,13%) Publicis (FR) - communications/advertising group

$META (+0,75%) Meta (US) - Digital Ads (Facebook/Instagram)

$GOOG (+1,16%) Google Ads (US) - search & display advertising

TikTok / ByteDance (CN) - social ads & distribution - not a listed company

$AAPL (+0,43%) Apple (US) - Branding/UX; Acceptance & Platform Marketing

$WPP (+0,22%)
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 (+0,84%) Nvidia (US) - AI GPUs & Isaac platform, foundation for robotic AI

$2330 TSMC (TW) - world's most important foundry, produces the AI chips

$ASML (+0,42%) ASML (NL) - EUV lithography, indispensable for chip production

$005930 Samsung Electronics (KR) - memory, logic, foundry

$000660 SK Hynix (KR) - DRAM & NAND memory for AI

$MU (+1,07%) 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 (+1,12%) Keyence (JP) - Industrial sensors & vision systems

$CGNX (+0,43%) Cognex (US) - Machine Vision, precise image processing

my number 1 in the sector is Keyence

Actuators & motion (muscles of robots)

$IFX (+0,51%) Infineon (DE) - power electronics, motor control

$6594 (+0,29%) Nidec (JP) - World market leader for electric motors

$PH Parker-Hannifin (US) - hydraulics/pneumatics, motion technology

$6481 (-0,42%) THK (JP) - Linear guides & actuators

my number 1 in the sector is Parker-Hannifin

Communication, cloud & infrastructure (nerves & data flow)

$QCOM (+0,74%) Qualcomm (US) - Mobile & Edge Chips

$AMZN (+0,74%) Amazon AWS (US) - Cloud & AI infrastructure

$MSFT (+0,78%) Microsoft Azure (US) - Cloud, AI services

$CSCO (+0,45%) Cisco (US) - Networks & Security

$VRT (+1,63%) Vertiv Holdings (US) - Data Center Infrastructure

my number 1 in the sector is Microsoft

End Applications & Platforms (robots themselves)

$TSLA (+1,41%) Tesla (US) - humanoid robot Optimus

$ABBN (-0,02%) ABB (CH/SE) - Robotics & Automation

$6954 (+1,57%) Fanuc (JP) - industrial robots & CNC systems

$7012 (-0,86%) 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 (+0,42%)
ASML (NL)

World market leader in EUV lithography - no modern chips for AI & robotics without ASML.

$IFX (+0,51%) Infineon (DE)

Leading in power electronics & motor control - crucial for actuators of humanoid robots.

$STM (+0,43%)
STMicroelectronics (FR/IT)

Sensors, microcontrollers & power chips - the basis for control & perception.

$SAP (-0,17%)
SAP (DE)

ERP & data platforms, important for integrating humanoid robots into industrial processes.

$SIE (+0,13%)
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.

$000660
SK Hynix (KR) - Memory

$SONY
Sony (Japan)

Market leader in CMOS image sensors, essential for robotic vision & perception.

$6861 (+1,12%)
Keyence (Japan)

Sensor technology & machine vision for industrial automation, widely used in robotics.

$6954 (+1,57%)
Fanuc (Japan)

Industrial robots & CNC systems, one of the most important manufacturers of robotics hardware worldwide.

$6506 (+1,7%)
Yaskawa Electric (Japan)

Drives, motion control & robot arms - relevant for humanoid motion control.

$6594 (+0,29%)
Nidec (Japan)

World market leader for electric motors (from mini motors to high-performance drives).

$7012 (-0,86%)
Kawasaki Heavy Industries (JP) - Industrial robots

$9618 (-1,77%)
JD.com (China)

Driver for robotics in e-commerce & logistics, invests in humanoid robotics applications

Hello everyone,

As mentioned in the previous post, I have decided to switch from $ANET (+1,23%) to $PANW (+0,56%) to reallocate.

Why?

$PANW (+0,56%) is one of the leading providers of cyber security solutions, with a particularly strong presence in the enterprise sector.

As an IT specialist, I see further strong expansion here with enterprise customers.

For SME customers, however, I have not yet seen a firewall due to the administration and costs :). $PANW (+0,56%) firewall yet :).

What do you think of $PANW (+0,56%) ?

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 (+0,92%)
ARM Holdings (ARM, UK/USA) - CPU architectures

$SNPS (+0,63%)
Synopsys (SNPS, USA) - Chip design software

$CDNS (+0,68%)
Cadence Design Systems (CDNS, USA) - EDA & Simulation

2. manufacturing technology & equipment

$ASML (+0,42%)
ASML (ASML, NL) - EUV lithography, key monopoly

$AMAT (+0,85%)
Applied Materials (AMAT, USA) - Process equipment

$8035 (+3,82%)
Tokyo Electron (8035.T, JP) - Wafer equipment

$KEYS (+0,4%)
Keysight Technologies (KEYS, USA) - Test & RF measurement technology

$6857 (+4,66%)
Advantest (6857.T, JP) - Semiconductor test systems

$TER (+1,32%)
Teradyne (TER, USA) - Test systems + robotics (Universal Robots)

3. chip production (Foundries)

$TSM (+0,79%)
TSMC (TSM, TW) - Largest contract manufacturer

$005930
Samsung Electronics (005930.KQ, KR) - Memory + Foundry

$GFS (+0,7%)
GlobalFoundries (GFS, USA) - Specialized production

4. computing & control unit ("brain")

$NVDA (+0,84%)
Nvidia (NVDA, USA) - GPUs, AI accelerators

$INTC (+1,01%)
Intel (INTC, USA) - CPUs, FPGAs

$AMD (+0,83%)
AMD (AMD, USA) - CPUs/GPUs

$MRVL (+1%)
Marvell Technology (MRVL, USA) - Network/data center chips

5. sensors ("senses")

$6758 (+3,34%)
Sony (6758.T, JP) - CMOS image sensors

$6861 (+1,12%)
Keyence (6861.T, JP) - Vision systems, sensors

$STM (+0,43%)
STMicroelectronics (STM, CH/FR) - MEMS sensors

6. actuators & power electronics ("muscles")

$IFX (+0,51%)
Infineon (IFX, DE) - Power semiconductors, SiC

$ON (+0,77%)
N Semiconductor (ON, USA) - SiC/Power Chips

$STM (+0,43%)
STMicroelectronics (STM, CH/FR) - Motor control & power

$TXN (+0,9%)
Texas Instruments (TXN, USA) - Motor control, power ICs

$ADI (+1,17%)
Analog Devices (ADI, USA) - Energy & BMS chips

7. communication & networking ("nerves")

$QCOM (+0,74%)
Qualcomm (QCOM, USA) - 5G/SoCs

$AVGO (+1,08%)
Broadcom (AVGO, USA) - Network & radio chips

$SWKS (+0,73%)
Skyworks Solutions (SWKS, USA) - RF components

8. energy supply

$300750
CATL (300750.SZ, CN) - Batteries

$6752 (+2,37%)
Panasonic (6752.T, JP) - Batteries for automotive/robotics

$373220
LG Energy Solution (373220.KQ, KR) - Batteries

9. cloud & infrastructure

$AMZN (+0,74%)
Amazon (AMZN, USA) - AWS

$MSFT (+0,78%)
Microsoft (MSFT, USA) - Azure

$GOOG (+1,16%)
Alphabet (GOOGL, USA) - Google Cloud

$EQIX (+0,49%)
Equinix (EQIX, USA) - Data center operator

$ANET (+1,23%)
Arista Networks (ANET, USA) - Network infrastructure

$CSCO (+0,45%)
Cisco Systems (CSCO, USA) - Edge & Data Center Networks

10. software & data platforms

$PLTR (+1,01%)
Palantir (PLTR, USA) - Data integration, decision software

$DDOG (+1,07%)
Datadog (DDOG, USA) - Cloud monitoring / observability

$SNOW (+0,51%)
Snowflake (SNOW, USA) - Cloud-native data platform

$ORCL (+0,65%)
Oracle (ORCL, USA) - Databases, ERP

$SAP (-0,17%)
SAP (SAP, DE) - ERP/cloud systems

$PATH (+1,24%)
UiPath (PATH, USA) - Automation software (RPA)

$AI (+0,98%)
C3.ai (AI, USA) - Enterprise AI platform

11. end applications / robots

$ABB
ABB (ABB, CH) - Industrial robots

$6954 (+1,57%)
Fanuc (6954.T, JP) - Industrial robots, CNC

$TSLA (+1,41%)
Tesla (TSLA, USA) - Optimus" humanoid robot

$9618 (-1,77%)
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 (+0,42%)
ASML (ASML, NL) - EUV lithography (monopoly).

$AMAT (+0,85%)
Applied Materials (AMAT, USA) - Wafer equipment.

$8035 (+3,82%)
Tokyo Electron (8035.T, JP) - Process equipment.

Test systems (hardware-side)

$6857 (+4,66%)
Advantest (6857.T, JP) - Semiconductor test.

$TER (+1,32%)
Teradyne (TER, USA) - Test systems + industrial robots.

Materials & raw materials

$ALB (+0,17%)
Albemarle (ALB, USA) - Lithium (batteries).

$LYC (+1,18%)
Lynas Rare Earths (LYC.AX, AUS) - Rare earths for magnets.

$UMICY (+0%)
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 (+0,63%)
Synopsys (SNPS, USA) - EDA software.

$CDNS (+0,68%)
Cadence Design Systems (CDNS, USA) - Chip design & simulation.

$ARM (+0,92%)
ARM Holdings (ARM, UK/USA) - CPU architectures (license model).

Test & Measurement (software/signal level)

$KEYS (+0,4%)
Keysight Technologies (KEYS, USA) - Electronics & RF test systems.

Network & data center backbone

$ANET (+1,23%)
Arista Networks (ANET, USA) - High-speed networks.

$CSCO (+0,45%)
Cisco Systems (CSCO, USA) - Data center/edge networks.

$EQIX (+0,49%)
Equinix (EQIX, USA) - Data centers (colocation).

Cloud infrastructure

$AMZN (+0,74%)
Amazon (AMZN, USA) - AWS (cloud, AI training).

$MSFT (+0,78%)
Microsoft (MSFT, USA) - Azure.

$GOOG (+1,16%)
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

These shares reached a new 52-week high today:

Meta $META (+0,75%)

Broadcom $AVGO (+1,08%)

AMD $AMD (+0,83%)

Blackrock $BLK (+0,45%)

Astera Labs $ALAB

Arista Networks $ANET (+1,23%)

Reddit $RDDT (-0,01%)

Lam Research $LRCX (+1,31%)

KLA Corp $KLAC (+0,71%)

S&P Global $SPGI (+0,68%)

Celsius $CELH

United Rentals $URI (+0,53%)

Do you hold one of the shares? If yes, congratulations!

Hi everyone,

Now I'm also sharing my portfolio. At the moment I'm actually quite happy with the development, I'm just wondering whether I'm too heavily weighted in the tech sector & whether it would be sensible to halve a stock such as $ANET (+1,23%) in half & include something else like $1211 (-0,1%) to be included.

Especially the issue with the sell-off in $FTNT (+0,58%) due to the moderately ongoing tech refresh of hardware devices makes me doubt Arista for how long this will work.

In general, I think it would make sense not to have so much in the USA...

Other opinions on weighting/portfolio?

Hello everyone,

After more than a year, it's time to present my portfolio again, as a lot has changed.

I am clearly pursuing a buy-and-hold strategy with quality stocks. As a core I currently have the $GGRP (+0,45%)and the $IWDA (+0,2%) . The $GGRP (+0,45%) will soon leave my portfolio and half of it will be reallocated to the $IWDA and the $XDEM (+0,27%) will be reallocated. This is simply because I think it's a good idea to have an ETF in my more growth-oriented portfolio that doesn't just have dividend payers in its line-up.

I find the $XDEM (+0,27%) in particular, as it focuses exclusively on stocks that have performed well recently. The fact that the excess return naturally drives up volatility somewhat is perfectly okay, as my investment horizon is at least 20 years.

Otherwise, another 57% of my portfolio consists of individual shares. My plan has actually always been a 50/50 ratio, but this has changed somewhat due to the strong equity returns. However, the ETF positions will soon be filled with around 600 euros of my training income. This should then level out a little better, as long as shares don't continue to rise enormously.

If you take a closer look at the shares, I think the strong focus on the classic ETF drivers such as $NVDA (+0,84%) , $MSFT (+0,78%) , $GOOG (+1,16%) and $AMZN (+0,74%) stand out. Of course, the ETFs in the portfolio increase the proportion of these stocks, but that is absolutely intentional. I remain very optimistic about the AI runners and see further growth and sufficient stability in the coming years.

I always find the following particularly noteworthy $EUZ (+0,4%) . It is the only German company in my portfolio. I am very confident in the long term and am excited to see how they will develop. Unfortunately, my $MC (+0,67%) position should also be mentioned. Well, bad luck and I didn't have the courage to sell when the downward trend was clear. But at least I can now offset the taxes from the $GGRP (+0,45%)-sale by selling the LVMH position and then buying it again immediately. As soon as the luxury segment improves again, I am sure that LVMH will be back at the top of the industry.

The bottom part of my portfolio currently consists of $MCD (+0,42%) and $MDLZ (-0,54%) among others. Due to the strong returns of the other shares, these two positions have become somewhat unimportant in my portfolio. At around 2% each, they have simply become too small for me, which is why I will be merging them. However, not again in a stable share with a dividend, but rather in a growth driver. I am currently watching $ANET (+1,23%) and am pretty convinced. The restructuring will probably soon lead to a EUR 4,000 position in Arista and free up another EUR 2,000 for the ETFs.

That should be all. If you have any questions, please feel free to ask, otherwise I'm very happy to receive your feedback :)

(A little info: The sum of the deposit comes from my grandfather's inheritance. The ETF shares I bought early on were bought by my father, as I was of course too young. Then I got involved with shares and was allowed to have more and more of a say. I currently make my own decisions about the portfolio)

Moin,

After yesterday's very positive quarterly figures for $ANET (+1,23%) I have decided to get out of the share and take my profits.

My buy-in was rather late, which is why I will either reallocate or wait for a better buy-in.

I am currently looking at $PANW (+0,56%) .