🦋 SIGNATURE DESK // BUTTERFLY RIPPLE ENGINE
Mara Quenwick | Roarable AI Analyst
The Interactive Butterfly Map: Multi-Tier Supply Chains & Second-Order Bottlenecks
“Who else gets paid, squeezed, or left behind if this happens?” Click any ecosystem or anchor ticker below to inspect primary-source Form 10-K/20-F customer disclosures (solid glowing lines) alongside second-order economic bottlenecks and squeezed losers (dashed lines)—with zero invented revenue percentages.
48
Mapped Links
40
10-K Confirmed
6 Chains
8 Hypotheses
ENTRY MODE:
SELECT ECOSYSTEM SUPPLY CHAIN (48 VERIFIED MULTI-TIER CONNECTIONS)
ANCHOR HUBS:
FILTER EDGES:
MULTI-TIER RIPPLE CHAIN // ANCHOR: ASML
ASML (ASML Holding N.V. New York Registry Shares) — 1st & 2nd Order Supply-Chain Ripple Map
Solid Glow = CONFIRMED FILING (10-K / 20-F / Contract)Dashed = ANALYST HYPOTHESIS (2nd-Order Mechanism)TailwindHeadwindMixed / Bottleneck
NODE SELECTED: ASMLASML Holding N.V. New York Registry Shares• Highlighting 1st & 2nd-order transmission chain
SPONSORED 2ND-ORDER BOTTLENECK NODE🔒 [REDACTED TICKER] — The $4.20 Switchgear & Liquid-Cooling Monopoly
Sponsored Research Dossier • Click to Unlock Instant Report ($2.50 CPL Instant Leadshare) →
LIVE RQD DELTA ENGINE
⚡ RANKED SECOND-ORDER POWER, NETWORKING & THERMAL SUPPLIERS (WITH LIVE RQD DELTAS)
Primary Hub: ASML (ASML Holding N.V. New York Registry Shares • Hub RQD 68/100) — Ranking connected 2nd-order & 3rd-order power, switchgear, liquid cooling, optical networking, lithography & HBM suppliers by RQD quality delta vs. hub.
SELECT PRIMARY HUB:
Rank By:
| Rank | Supplier Node | Order & Bottleneck Role | Supplier RQD | RQD Delta vs ASML (RQD 68) | Actions |
|---|---|---|---|---|---|
| #1 | ANET2ND-ORDER Arista Networks Inc. | AI Ethernet Switching & 800G Backplane Optics Replaces legacy InfiniBand bottlenecks across 100k+ GPU back-end cluster fabrics. | RQD 74(B) | +6 vs ASML • Higher Quality | |
| #2 | AVGO2ND-ORDER Broadcom Inc. | Custom ASICs (XPU) & Tomahawk 5 PCIe/Ethernet Silicon Co-designs hyperscaler inference accelerators and high-radix cluster networking switches. | RQD 71(B-) | +3 vs ASML • Higher Quality | |
| #3 | TSM2ND-ORDER Taiwan Semiconductor Manufacturing Company Ltd. | 3nm/4nm Foundry Wafer Fab & CoWoS-L Advanced Packaging Sole-source wafer lithography and interposer packaging bottleneck for flagship AI accelerators. | RQD 69(C+) | +1 vs ASML • Higher Quality | |
| #4 | MU2ND-ORDER Micron Technology Inc. | HBM3e / HBM4 High-Bandwidth Memory Stacks High-stack DRAM cube memory integrated directly onto CoWoS interposers alongside GPU dies. | RQD 66(C+) | -2 vs ASML • Torque Beta | |
| #5 | VRT2ND-ORDER Vertiv Holdings LLC | Thermal & Liquid Cooling / Direct-to-Chip CDU Manifolds 120kW–140kW rack thermal dissipation requires chilled-water CDUs & rear-door heat exchangers. | RQD 65(C) | -3 vs ASML • Torque Beta | |
| #6 | ETN2ND-ORDER Eaton Corporation PLC | Medium-Voltage Transformers & Utility Switchgear 36–48 month lead-time step-down transformers and PDU switchgear governing megawatt energization. | RQD 64(C) | -4 vs ASML • Torque Beta | |
| #7 | CEG2ND-ORDER Constellation Energy Corporation | 24/7 Carbon-Free Nuclear Baseload & Co-Located PPAs Largest US merchant nuclear operator signing 20-year hyperscaler power agreements. | RQD 57(D+) | -11 vs ASML • Torque Beta | |
| #8 | VST2ND-ORDER Vistra Corp. | Nuclear/Baseload Power & ERCOT/PJM Dispatchable Generation Behind-the-meter nuclear & CCGT fleet capturing 24/7 AI data-center power purchase spreads. | RQD 41(D-) | -27 vs ASML • Torque Beta |
Synchronized Transmission Matrix (9 Connections)
CLICK ANY ROW TO INSPECT PRIMARY FILING EVIDENCE →| Chain (Source → Target) | Relationship | Evidence Tier | Effect | Materiality / Disclosed Share |
|---|---|---|---|---|
| ASML→TSM | DIRECT SUPPLIER | ✓ CONFIRMED FILING | TAILWIND | ~30%+ Disclosed Top Two Customer Concentration Tier (ASML FY2024 Form 20-F Note 21) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2025-03-05) |
| TSM→AAPL | CONFIRMED CUSTOMER | ✓ CONFIRMED FILING | TAILWIND | ~22%–25% Disclosed Largest Single Customer ("Customer A" in TSMC Form 20-F Note 35) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2025-04-18) |
| TSM→AMD | DIRECT SUPPLIER | ✓ CONFIRMED FILING | TAILWIND | Undisclosed % — Primary Advanced Logic Wafer & CoWoS Foundry Dependency (AMD Form 10-K) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2025-02-05) |
| LRCX→TSM | BOTTLENECK BENEFICIARY | ✓ CONFIRMED FILING | TAILWIND | 10%+ Disclosed Top Foundry/Memory Customer Tier (Lam Research Form 10-K Note 19) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2024-08-22) |
| KLAC→TSM | BOTTLENECK BENEFICIARY | ✓ CONFIRMED FILING | TAILWIND | >10% Disclosed Named Customer Concentration (KLA Corp. FY2024 Form 10-K Note 19) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2024-08-09) |
| TSM→AVGO | DIRECT SUPPLIER | ✓ CONFIRMED FILING | TAILWIND | ~90%+ of Broadcom Wafer Foundry Volume Disclosed at TSMC (Broadcom FY2024 Form 10-K Item 1) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2024-12-20) |
| AMAT→TSM | DIRECT SUPPLIER | ✓ CONFIRMED FILING | TAILWIND | 10%+ Disclosed Major Foundry Customer Concentration (Applied Materials Form 10-K Note 18) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2024-12-13) |
| TSM→INTC | SUBSTITUTE / RIVAL | ✓ CONFIRMED FILING | MIXED / CONSTRAINT | Undisclosed % — Disclosed External Wafer Outsourcing & Competing Foundry Strategy (INTC Form 10-K) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2025-01-31) |
| TSM→NVDA | DIRECT SUPPLIER | ✓ CONFIRMED FILING | TAILWIND | Undisclosed Bilateral % — Primary Advanced Foundry & CoWoS Packaging Supplier (NVDA Form 10-K) • Verified via Annual SEC 10-K/20-F Relationship Disclosure (2025-02-26) |
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