Closelook@AI Indices · Episode 2
Rubin — Inside the AI Factory Build-Out
Rubin holds 130 companies in eight layers, from chip design software to robots, all equally weighted. It is up 104% this year but about 15% below its 22 June high — and in the last month the leadership moved from storage and memory to chip design software and interconnects.
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Transcript
0:00 Rubin tracks the companies that build the AI factory.
0:04 Episode 2 of our series on the AI trade: one index, up close.
0:10 130 companies in eight layers, from the software that designs chips to the robots that use them.
0:15 Every name has the same weight, so a small supplier counts as much as Nvidia.
0:20 This year Rubin more than doubled: +104% since 2 January.
0:24 It peaked on 22 June and sits about 15% below that high.
0:28 The bottlenecks paid most: connectivity and materials +153%, assembly and test +130%.
0:32 Manufacturing support rose least, +37%.
0:37 In the last month the leaders changed: chip design software +19%, interconnects +13%.
0:41 The year’s biggest winners fell: storage −10%, memory −2%.
0:46 Next: the Agentic Ecosystem — the rails that run AI.
Explore Rubin layer by layer → All videos →
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Research diary, not investment advice. Figures as stated in the video, to the date shown.