Interactive market map · updated 2026-09-29
743 companies
From watts to tokens
Power goes in, tokens come out. Eight layers of companies in between — pick one to zoom in.
Zone 1 · Physical FoundationZone 2 · GPU-Hour EconomyZone 3 · Token EconomyZone 4 · Demand Engine
Zone 1Physical Foundation387
L0Energy & Power
power developers17nuclear/SMR16storage/batteries8+5
60companies
L1Data Centers & Physical Infrastructure
colocation incumbents30modular & prefab builders20AI-factory builders14+6
108companies
L2Silicon, Memory & Packaging
semicap equipment38inference silicon29foundry & packaging24+7
162companies
L3Systems, Networking & Data Fabric
networking equipment24servers & systems14ODMs12+2
57companies
Zone 2GPU-Hour Economy155
L4Compute Capacity Providers
Owns or controls compute and rents it out as GPU-hours.
mid-tier & regional neoclouds58sovereign clouds35ex-crypto converts18large neoclouds10hyperscalers9
130companies
L5Compute Marketplaces & Market Infrastructure
Connects supply and demand for raw compute without owning much of it.
DePIN networks5P2P marketplaces5principal market makers5indices & market data4spot exchanges3+2
25companies
↑WattsTokens↓