The value chain from raw materials up to cloud access, with the dominant players and public tickers at each layer. Most of the deepest layers are held by one or two private suppliers, so public exposure is usually indirect.

Share of global supply held by the single dominant source for key quantum inputs. The metric differs by row, so read each bar against its label. The pattern is structural: most critical inputs depend on one country or one or two suppliers.

A true third-party quantum foundry barely existed until 2026, when IBM's Anderon and GlobalFoundries' Quantum Technology Solutions (both Albany-anchored and CHIPS-funded) set out to become the manufacturing backbone of the industry.

The points that gate how fast the field can scale, what each constrains, and where public-equity exposure sits. The binding suppliers are usually private, so investable exposure runs through diversified instrument, materials, and foundry companies.