Alphabet Inc. (Google) (GOOGL): Who It Depends On
Alphabet's core advertising business is famously diversified across millions of advertisers with no real concentration risk. But its custom TPU AI chips depend on a small number of outside foundries to manufacture, and Google Cloud's fast-growing AI compute business is increasingly built around a small number of very large AI-lab customers, most notably Anthropic.
Supply-chain dependency
Companies GOOGL relies on to design, manufacture, package, and assemble its hardware.
The primary foundry fabricating Google's custom TPU AI accelerator chips.
A second foundry partner now fabricating TPUs for Google - Google reportedly entered Samsung's top-five client list in 2025 amid rising TPU demand. Trades primarily on the Korea Exchange with no proper US-listed ticker.
Co-designs Google's TPU AI accelerators alongside Google's own hardware teams.
Supplies GPUs used across Google Cloud's AI infrastructure alongside Google's own TPUs.
Supplies data-center CPUs used across Google's cloud infrastructure.
A major memory and HBM supplier to Google's AI infrastructure. Trades primarily on the Korea Exchange with no proper US-listed ticker.
Provides ASIC design services supporting Google's custom chip development. Trades primarily on the Taiwan Stock Exchange with no proper US-listed ticker.
Supplies power and cooling infrastructure across Google's data centers.
Supplies optical and fiber components used in Google's networking infrastructure.
Customer concentration
Alphabet's advertising revenue is spread across millions of advertisers with no meaningful concentration. The chart below instead focuses on Google Cloud's AI compute business, where a small number of large AI labs and enterprise customers represent a much more concentrated relationship.
One of the largest known users of Google's TPUs and Cloud compute, training its Claude models substantially on Google infrastructure. A private company with no public ticker.
Reportedly evaluating deployment of Google's TPUs starting in 2027 as part of diversifying its AI chip supply.
Runs its streaming platform substantially on Google Cloud infrastructure.
Relies on Google Cloud for a significant share of its infrastructure.
A major enterprise customer for Google Cloud's infrastructure and AI products.
Works with Google Cloud on AI and autonomous-driving data infrastructure.
A large enterprise customer running retail infrastructure on Google Cloud.
Uses Google Cloud infrastructure and AI tools across parts of its platform.
Federal and public-sector agencies are customers of Google Cloud's infrastructure. Not a publicly traded company.
The percentages shown are editorial estimates based on public research (company disclosures, earnings commentary, and industry reporting) meant to illustrate relative reliance, not precise or audited figures. Companies without a proper, reliably tradable ticker on this site are shown without stock/earnings links. This is not financial advice.