Every layer of the chain — priced

72 listed companies, each placed in the layer of the AI value chain where its AI revenue is actually recognised. Sort by any column; a figure we do not have prints as a dash, never as a zero.

OpenAI and Anthropic are private companies and cannot be bought, so most rows below are a route to the labs rather than a lab. The exception is SpaceX, which absorbed xAI in February 2026 and reports AI as one of its three segments. The largest listed exposure to OpenAI and Anthropic is still Microsoft, Alphabet and Amazon — their counterparties — and those three are in the Hyperscalers layer, not this one.

#	Ticker	Layer	Price	Day	7D	30D	90D	30-Day	Market cap ↓	Volume	P/E	52-Week
1	SPCX SpaceX	Model Labs	$147.86	-0.34%	-1.67%	+9.90%	-4.00%		$721.38B*	$28.05M	—	$108.27 – $211.39
2	NBISPROXY Nebius Group	Model Labs	$245.34	+8.26%	+8.23%	+7.44%	-12.73%		$62.07B*	$9.42M	—	$64.06 – $286.69
3	RDDTPROXY Reddit	Model Labs	$152.84	+0.57%	-3.57%	-0.47%	-5.44%		$30.92B*	$686,806	35.5	$121.84 – $270.71
4	INODPROXY Innodata	Model Labs	$70.44	-2.16%	+29.92%	+26.01%	-11.72%		$2.42B	$494,516	53.4	$34.45 – $121.50
5	SFTBYPROXY SoftBank Group	Model Labs	$19.75	-6.66%	+6.84%	+33.67%	+4.98%		—	$95,348	—	$10.87 – $28.68
6	BIDUPROXY Baidu	Model Labs	$87.08	-3.01%	+1.39%	-2.60%	-16.73%		—	$904,180	—	$86.76 – $162.52

Market capDERIVED and P/EDERIVED are computed from SEC filings and the current price