Blaize Holdings Inc.

BZAI

$0.50

+5.12%

N/A+$0.02

Technology

Semiconductors

NASDAQ

Active Trading

Blaize Holdings, Inc. provides artificial intelligence (AI)-enabled edge computing solutions. Its portfolio includes programmable AI processors in a broad range of form ...

Supply Chain of BZAI

Upstream

Foundry, packaging, memory, wafers, components, and input vendors.

Upstream

Samsung Electronics (Samsung Foundry)

VeriSilicon Microelectronics (Shanghai) Co., Ltd.

Arm Holdings plc

Synopsys, Inc.

Cadence Design Systems, Inc.

ASML Holding N.V.

Applied Materials, Inc.

Samsung Electronics (Samsung Foundry)

KRX:005930

Semiconductor wafer foundry — manufactures Blaize GSP chips on 14nm FinFET process

VeriSilicon Microelectronics (Shanghai) Co., Ltd.

SHH:688521

Chip design services, semiconductor IP licensing, and design enablement for Samsung Foundry process

Arm Holdings plc

NASDAQ:ARM

CPU IP provider — Blaize SoCs integrate Dual ARM Cortex A53 processors

Synopsys, Inc.

NASDAQ:SNPS

EDA software and semiconductor IP for chip design and verification

Cadence Design Systems, Inc.

NASDAQ:CDNS

EDA software and design tools for semiconductor design flow

Downstream

Customers, distributors, OEMs, and channels that absorb output.

Downstream

NeoTensr

Starshine Computing Power Technology Limited

Yotta Data Services

Winmate Inc.

Technology Control Company (TCC)

VSBLTY Groupe Technologies Corp.

BroadSat Technologies LLC

Accton Technology Corporation

NeoTensr

Co-branded AI edge data center infrastructure deployment in Asia; $50M contract (first year); generated $23.8M in Q4 2025 (~61% of FY2025 revenue) · 61.0%

Starshine Computing Power Technology Limited

Strategic cooperation agreement for hybrid AI platform deployment across Asia Pacific; minimum $120M revenue over 18 months (~27% of FY2025 revenue) · 27.0%

Yotta Data Services

$56M smart public safety AI deployment across South Asia; hybrid AI infrastructure powering 250,000+ cameras

Winmate Inc.

TPE:3416

Strategic partnership ($15M deal) integrating Blaize AI chips into rugged systems (drones, handhelds, vehicle-mounted) for defense and critical infrastructure

Technology Control Company (TCC)

Partnership to power Saudi Arabia's next-generation AI innovation infrastructure and smart transformation

Proxies

Public comparables and monitoring names used as representatives for the analysis.

Proxies

Samsung Electronics Co., Ltd.

Arm Holdings plc

Synopsys, Inc.

Winmate Inc.

NVIDIA Corporation

Samsung Electronics Co., Ltd.

KRX:005930

Blaize's sole confirmed foundry partner (14nm FinFET). As a fabless chip company, Blaize's ability to produce and ship its GSP processors depends entirely on Samsung Foundry capacity. Samsung is also a strategic investor.

Arm Holdings plc

NASDAQ:ARM

Blaize uses ARM Cortex A53 CPU cores in its SoCs. Arm's CPU IP licensing terms and architecture roadmap directly impact Blaize's product development cycle.

Synopsys, Inc.

NASDAQ:SNPS

Critical EDA and semiconductor IP supplier for Blaize's chip design flow. Industry standard for fabless semiconductor design.

Winmate Inc.

TPE:3416

Direct downstream OEM partner integrating Blaize AI chips into rugged defense systems. Provides a public market proxy for Blaize's go-to-market execution in defense/industrial verticals.

NVIDIA Corporation

NASDAQ:NVDA

Primary competitor in the broader AI chip market. Blaize positions as a low-power edge AI alternative to NVIDIA's GPU-based solutions. NVIDIA's market movements directly affect Blaize's competitive positioning.

Geographic

Region-level exposures that can distort the supply network.

Geographic

South Korea

China / Hong Kong

Taiwan

Samsung Electronics (Foundry)

NeoTensr

Starshine Computing Power Technology Limited

Winmate Inc.

Accton Technology Corporation

South Korea

Foundry manufacturing concentration

Samsung Electronics (Foundry)KRX:005930Sole semiconductor wafer fabrication partner

China / Hong Kong

Customer concentration and geopolitical risk

NeoTensrChinese hardware developer; largest customer (~61% of 2025 revenue)

Starshine Computing Power Technology LimitedHong Kong-based partner; ~27% of 2025 revenue, $120M contract

Taiwan

OEM/EMS partner concentration

Winmate Inc.TPE:3416$15M rugged systems partnership for defense

Accton Technology CorporationTPE:2345Edge AI computing service partner

India

Customer and R&D operations

Yotta Data Services$56M smart public safety deployment; R&D center in Hyderabad, Telangana

Saudi Arabia

Expanding Middle East presence via TCC partnership

Technology Control Company (TCC)AI infrastructure partnership for Saudi Arabia smart transformation

Concentration

Customer, supplier, or partner concentration exposures that can distort the supply network.

Customer

Critical

Extreme customer concentration: two customers (NeoTensr at ~61% and Starshine at ~27%) accounted for ~88% of FY2025 revenue. Loss of either would severely impact operations.

Foundry

Critical

Single-source dependency on Samsung Foundry (14nm FinFET) for chip manufacturing. Any disruption at Samsung's fab could halt product supply. No disclosed second-source foundry arrangement.

Other

High

Going concern risk: $103.8M operating loss in FY2025, heavy cash burn rate, and reliance on customer prepayments/private placements for working capital.

Equipment

Medium

Tier 2 concentration risk through Samsung Foundry's dependency on ASML (EUV lithography) and Applied Materials (wafer fab equipment) for advanced node capacity.

Revenue mix

How the target's revenue mix translates into supply-chain leverage and dependency.

Hardware (Edge AI Processors, SoMs, PCIe Accelerators)

80.0%

$0.0B

Drives demand for Samsung Foundry wafer manufacturing, Arm CPU IP, VeriSilicon design services, and semiconductor packaging/test services. Hardware gross margins are lower than software.

Software & AI Platform Solutions (Blaize AI Services Platform, Picasso Software)

20.0%

$0.0B

Software-led solutions and professional services tied to AI deployments with partners like Starshine, Yotta, and NeoTensr. Higher-margin segment with lower direct upstream dependency.

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

Blaize Holdings Inc.

Supply Chain of BZAI

Upstream

Samsung Electronics (Samsung Foundry)

VeriSilicon Microelectronics (Shanghai) Co., Ltd.

Arm Holdings plc

Synopsys, Inc.

Cadence Design Systems, Inc.

ASML Holding N.V.

Applied Materials, Inc.

Downstream

NeoTensr

Starshine Computing Power Technology Limited

Yotta Data Services

Winmate Inc.

Technology Control Company (TCC)

VSBLTY Groupe Technologies Corp.

BroadSat Technologies LLC

Accton Technology Corporation

View More

Proxies

Samsung Electronics Co., Ltd.

Arm Holdings plc

Synopsys, Inc.

Winmate Inc.

NVIDIA Corporation

Geographic

South Korea

China / Hong Kong

Taiwan

View More

Supply Chain of BZAI

Upstream

Samsung Electronics (Samsung Foundry)

VeriSilicon Microelectronics (Shanghai) Co., Ltd.

Arm Holdings plc

Synopsys, Inc.

Cadence Design Systems, Inc.

ASML Holding N.V.

Applied Materials, Inc.

Downstream

NeoTensr

Starshine Computing Power Technology Limited

Yotta Data Services

Winmate Inc.

Technology Control Company (TCC)

VSBLTY Groupe Technologies Corp.

BroadSat Technologies LLC

Accton Technology Corporation

View More

Proxies

Samsung Electronics Co., Ltd.

Arm Holdings plc

Synopsys, Inc.

Winmate Inc.

NVIDIA Corporation

Geographic

South Korea

China / Hong Kong

Taiwan

View More