Global giants in the AI supply chain

Jon Frost, Kumar Rishabh and Vatsala Shreeti

No 122, BIS Bulletins from Bank for International Settlements

Abstract: Globally, the largest artificial intelligence (AI) firms are based in the United States, China, Chinese Taipei, Korea and the Netherlands. These global AI giants account for an increasing share of total market capitalisation, capital expenditure and revenues in their respective jurisdictions. For many AI giants – and particularly those from the United States and China – scope and scale go together as they expand the breadth of their activities into multiple layers in the AI supply chain.

Pages: 8 pages
Date: 2026-02-23
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