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AI Build-Out — Market Cap Leaders

Thirty-six months of monthly market cap for the twelve names that define the Closelook AI build-out: Architects & IP (NVDA, AVGO, AMD, ARM, MRVL), Manufacturing (TSM, ASML, AMAT, KLAC, LRCX), Memory & Packaging (MU) and Substrates & Power (VRT). Watch the order shift through the post-ChatGPT ramp, the agentic-inference wave, and the 2026 cap-cycle.

AI Build-Out — Market Cap Leaders

Monthly market cap of the 12 leading Closelook-tracked AI-infrastructure names

How to read this

Bars sort by market cap, descending, recomputed each month. The leader (rank 1) paints brand red. Other bars carry their layer colour: indigo for Layer 1 (Architects & IP), cyan for Layer 2 (Manufacturing), teal for Layer 3 (Memory & Packaging), violet for Layer 4 (Substrates & Power). Shares outstanding held constant at today's value — dilution on these names runs <2 %/yr so the ordering dynamic is preserved.

Embed this chart

Paste the snippet below into any HTML, Substack post or LinkedIn article. The embed page tracks back to closelook.net and auto-resizes in the parent iframe.

<iframe src="https://closelook.net/embed/race/ai-megacaps/" width="100%" height="640" frameborder="0" loading="lazy" title="AI Build-Out — Market Cap Leaders (Closelook)"></iframe>

Methodology

Source: EODHD monthly adjusted closes (split-neutral) × current SharesOutstanding.
Universe: Closelook Rubin 100 layer leaders, union with VRT (Layer-4 power proxy).
Time window: 2023-06-01 → 2026-05-01, 37 monthly snapshots.
Pacing: 0.8 months/second ≈ 46 s full race.
Refresh: dataset regenerated via npm run viz:data:ai-megacaps; committed to git.