Order flow
The capital-flow ledger
Who paid whom, how much, and whether it was in guidance — the deals that move the buildout through the chain.
The buildout shows up three ways. Coverage says what is being talked about, filings say what has been earned, and order flow says what has been bought — and it leads both, because a supply contract is signed quarters before it becomes revenue and often before it lands in guidance at all. A deal is an edge between two parties, and only one of them has to be a name we cover: Foxconn taking $52bn of SpaceX server work matters whether or not we page Foxconn.
Every row is curated by hand and carries its own source. The knowledge graph records that two companies appeared together; it does not reliably record who paid whom, how much, or whether the number was in guidance — and those are the three things that make an order interesting. Where a row is single-sourced or unconfirmed it says so. This is a record, not advice — read the methodology.
| Announced | From | To | Deal | Value | In guidance | Sourcing |
|---|---|---|---|---|---|---|
| SpaceX | Foxconn (Hon Hai) | supply next-generation AI servers on Nvidia GB300 unverified | $52.0B | outside guidance | ||
| Alibaba | Moonshot AI | investment strategic stake in a $2bn raise at a ~$30bn valuation, ahead of a possible HK listing unverified | $2.0B | not stated | ↗ | |
| Amazon | Astera Labs | warrant switches, retimers and optical, against a share warrant | $6.5B | not stated | SEC filing ↗ | |
| Nvidia | CoreWeave | investment equity investment to deploy Vera CPUs and add capacity | $2.0B | not stated | newswire ↗ | |
| Nvidia | Intel | investment equity stake alongside an x86 partnership | $5.0B | not stated | newswire ↗ |
Outside guidance means the order was not in the supplier's standing guidance when it was announced — often the whole signal. Sourcing grades the record: an SEC filing outranks a newswire, which outranks a social post. Ledger updated 2026-07-20.