This Week in the Chain — Sep 5, 2026

Top gainers

Start with the tape. 338 companies moved 1% or more since Aug 31, 2026. These are live market caps, which means price action plus any share-count update and nothing else — nothing smoothed, nothing adjusted after the fact.

1. 1IREN$13.1B → $17.6B+34.7%
2. 2Bloom Energy$60.1B → $74.5B+23.9%
3. 3Hut 8$9.6B → $11.5B+20.7%
4. 4Cipher Mining$6.3B → $7.4B+16.3%
5. 5Bit Digital$510M → $590M+15.7%
6. 6Dell Technologies$296.7B → $338.7B+14.2%
7. 7Semtech$12.2B → $13.8B+12.9%
8. 8MediaTek$197.9B → $223.0B+12.7%

Source: wafergraph live market caps (Yahoo Finance × SEC shares). As of 2026-09-04.

Coverage changes

Dataset coverage compared with Aug 31, 2026. Every figure in this email is a floor, and this section is how you tell how high the floor sits.

Source: wafergraph dataset. As of 2026-09-04.

Top decliners

1. 1Credo Technology$42.0B → $32.1B-23.7%
2. 2Zhongke Feice Technology$19.2B → $15.7B-18.0%
3. 3Ciena$53.7B → $45.5B-15.3%
4. 4Cadence Design Systems$93.9B → $80.6B-14.1%
5. 5Nan Ya PCB$25.1B → $21.6B-14.0%
6. 6Kingsemi$11.1B → $9.6B-14.0%
7. 7Tongfu Microelectronics$14.6B → $12.9B-11.8%
8. 8LG Innotek$11.1B → $9.8B-11.4%

Source: wafergraph live market caps. As of 2026-09-04.

US-listed gainers

Now filtered to what a US brokerage account can actually buy: NASDAQ, NYSE or OTC. A foreign company with a US-listed ADR, TSMC and ASML among them, counts. A foreign-exchange-only listing does not.

1. 1IREN$13.1B → $17.6B+34.7%
2. 2Bloom Energy$60.1B → $74.5B+23.9%
3. 3Hut 8$9.6B → $11.5B+20.7%
4. 4Cipher Mining$6.3B → $7.4B+16.3%
5. 5Bit Digital$510M → $590M+15.7%

Source: wafergraph live market caps (Yahoo Finance × SEC shares). As of 2026-09-04.

US-listed decliners

1. 1Credo Technology$42.0B → $32.1B-23.7%
2. 2Ciena$53.7B → $45.5B-15.3%
3. 3Cadence Design Systems$93.9B → $80.6B-14.1%
4. 4Synopsys$84.7B → $75.5B-10.9%
5. 5Ambarella$3.0B → $2.8B-8.6%

Source: wafergraph live market caps. As of 2026-09-04.

Why it matters

Why this one matters where it sits. IREN is in AI & Data Center — The AI and data-center segment captures the demand side of the semiconductor supply chain — the hyperscalers, GPU clouds, AI labs, data-center REITs, and infrastructure suppliers that consume chips at massive scale. GPU demand from AI workloads is the primary demand signal driving the entire supply chain. Hyperscalers (AWS, Microsoft Azure, Google Cloud, Meta, Alibaba, Tencent) are simultaneously the largest GPU buyers and increasingly designing their own custom silicon. Equinix and Digital Realty provide the real estate; Vertiv, Schneider Electric, and Delta Electronics supply power and cooling; Arista Networks leads AI back-end switching. 116 companies in the wafergraph dataset sit in AI & Data Center alongside it.

Segment context from the wafergraph taxonomy.