{
  "_schema_version": 1,
  "license": "CC-BY-4.0",
  "as_of": "2026-06-04",
  "issue_no": 22,
  "methodology_page": "https://spotwire.ai/methodology",
  "changelog": "https://spotwire.ai/methodology/changelog",
  "cite": "https://spotwire.ai/cite",
  "notes": "Indicative assessed reference prices, not transactable quotes. Per-index disclosure fields are passed through verbatim from the index engine; absent fields mean the index does not publish them.",
  "indices": {
    "SWCI": {
      "name": "Compute",
      "components": "Legacy GPUs \u00b7 Servers \u00b7 Enterprise SSD \u00b7 DDR5 RAM \u00b7 Hyperscaler GPU rental \u00b7 HBM stress \u00b7 Frontier GPU OEM",
      "component_weights": {
        "gpu": 0.06,
        "server": 0.06,
        "ssd": 0.04,
        "ram": 0.04,
        "hyperscaler": 0.2,
        "hbm": 0.25,
        "frontier_gpu": 0.35
      },
      "component_source_tier": {
        "gpu": "tier_4_ebay_secondary",
        "server": "tier_4_ebay_secondary",
        "ssd": "tier_4_ebay_secondary",
        "ram": "tier_4_ebay_secondary",
        "hyperscaler": "tier_1_hyperscaler_api",
        "hbm": "tier_1_industry_research_and_filings",
        "frontier_gpu": "tier_2_integrator_channel_survey"
      },
      "component_values": {
        "gpu": 1630.0000000000005,
        "server": null,
        "ssd": null,
        "ram": null,
        "hyperscaler": 4.0,
        "hbm": 100.0,
        "frontier_gpu": 303843.90592632967
      },
      "component_n_comps": {
        "gpu": 1,
        "server": 0,
        "ssd": 0,
        "ram": 0,
        "hyperscaler": 51,
        "hbm": 4,
        "frontier_gpu": 26
      },
      "source_mix": {
        "tier_1_pct": 0.325,
        "tier_2_pct": 0.35,
        "tier_3_pct": 0.125,
        "tier_4_pct": 0.2,
        "tier_5_pct": 0.0
      },
      "rebase_window_days": 84,
      "n_components": 7,
      "indicative": false,
      "component_price_primitive": {
        "gpu": "ebay_transacted",
        "server": "ebay_transacted",
        "ssd": "ebay_transacted",
        "ram": "ebay_transacted",
        "hyperscaler": "cloud_quoted",
        "hbm": "stress_proxy",
        "frontier_gpu": "oem_list"
      },
      "gpu_condition_basis": "secondary_used_working",
      "frontier_n_sources": 3,
      "single_source_warning": false,
      "frontier_node_value": 303843.90592632967,
      "frontier_per_accelerator_value": 44305.34247016216,
      "yoy_backfill_disclosed": true
    },
    "SWII": {
      "name": "Interconnect",
      "components": "Networking eBay \u00b7 Transceiver eBay \u00b7 Ethernet optics survey \u00b7 InfiniBand survey \u00b7 DAC/AOC survey \u00b7 NVSwitch OEM",
      "component_weights": {
        "networking_ebay": 0.15,
        "transceiver_ebay": 0.05,
        "fs_new_list": 0.15,
        "infiniband_fs": 0.3,
        "dac_aoc_fs": 0.15,
        "nvswitch_oem": 0.2
      },
      "component_source_tier": {
        "networking_ebay": "tier_4_ebay_secondary",
        "transceiver_ebay": "tier_4_ebay_secondary",
        "fs_new_list": "tier_2_channel_partner",
        "infiniband_fs": "tier_2_channel_partner",
        "dac_aoc_fs": "tier_2_channel_partner",
        "nvswitch_oem": "tier_2_integrator_channel_survey"
      },
      "component_values": {
        "networking_ebay": 92.28,
        "transceiver_ebay": 129.29,
        "fs_new_list": 100.0,
        "infiniband_fs": 100.0,
        "dac_aoc_fs": 100.0,
        "nvswitch_oem": 100.0
      },
      "component_n_comps": {
        "networking_ebay": 25,
        "transceiver_ebay": 4,
        "fs_new_list": 8,
        "infiniband_fs": 36,
        "dac_aoc_fs": 20,
        "nvswitch_oem": 1
      },
      "source_mix": {
        "tier_1_pct": 0.0,
        "tier_2_pct": 0.8,
        "tier_3_pct": 0.0,
        "tier_4_pct": 0.2,
        "tier_5_pct": 0.0
      },
      "rebase_window_days": 28,
      "n_components": 6,
      "indicative": true,
      "component_price_primitive": {
        "networking_ebay": "ebay_transacted",
        "transceiver_ebay": "ebay_transacted",
        "fs_new_list": "channel_list",
        "infiniband_fs": "channel_list",
        "dac_aoc_fs": "channel_list",
        "nvswitch_oem": "oem_list"
      },
      "component_vendor": {
        "networking_ebay": "ebay",
        "transceiver_ebay": "ebay",
        "fs_new_list": "interconnect_survey",
        "infiniband_fs": "interconnect_survey",
        "dac_aoc_fs": "interconnect_survey",
        "nvswitch_oem": "oem_integrator_survey"
      },
      "dominant_vendor": "interconnect_survey",
      "dominant_vendor_weight": 0.6,
      "vendor_concentration_warning": false,
      "interconnect_vendors": [
        "10gtek",
        "colfax",
        "fs",
        "qsfptek"
      ],
      "interconnect_component_diag": {
        "infiniband_fs": {
          "dominant_vendor": "fs",
          "dominant_share": 0.69,
          "n_vendors": 2
        },
        "dac_aoc_fs": {
          "dominant_vendor": "fs",
          "dominant_share": 0.545,
          "n_vendors": 3
        },
        "fs_new_list": {
          "dominant_vendor": "qsfptek",
          "dominant_share": 0.462,
          "n_vendors": 3
        }
      }
    },
    "SWPI": {
      "name": "Power",
      "components": "Nationwide LMP \u00b7 Queue depth \u00b7 Backlog growth \u00b7 Lead-time \u00b7 BLS PPI",
      "component_weights": {
        "lmp": 0.1,
        "queue_depth": 0.3,
        "backlog_growth": 0.25,
        "lead_time": 0.2,
        "ppi": 0.15
      },
      "component_source_tier": {
        "lmp": "tier_5_public_infrastructure",
        "queue_depth": "tier_5_public_infrastructure",
        "backlog_growth": "tier_3_edgar_filings",
        "lead_time": "tier_3_edgar_filings",
        "ppi": "tier_1_bls_ppi"
      },
      "component_values": {
        "lmp": 82.1,
        "queue_depth": 99.16,
        "backlog_growth": 167.52,
        "lead_time": 75.0,
        "ppi": 108.62
      },
      "component_n_comps": {
        "lmp": 5,
        "queue_depth": 9,
        "backlog_growth": 5,
        "lead_time": 13,
        "ppi": 4
      },
      "source_mix": {
        "tier_1_pct": 0.15,
        "tier_2_pct": 0.0,
        "tier_3_pct": 0.45,
        "tier_4_pct": 0.0,
        "tier_5_pct": 0.4
      },
      "rebase_window_days": 730,
      "n_components": 5,
      "indicative": true,
      "component_price_primitive": {
        "lmp": "iso_settlement_price",
        "queue_depth": "infrastructure_dataset",
        "backlog_growth": "edgar_filing_signal",
        "lead_time": "edgar_filing_signal",
        "ppi": "gov_price_index"
      }
    },
    "SWFI": {
      "name": "Facility",
      "components": "T&M \u00b7 PLC \u00b7 PPI process instruments \u00b7 PPI HVAC \u00b7 EDGAR cohort sentiment \u00b7 CDW cooling channel",
      "component_weights": {
        "tm_ebay": 0.1,
        "plc_ebay": 0.1,
        "ppi_process": 0.2,
        "ppi_hvac": 0.2,
        "edgar_sentiment": 0.2,
        "cooling": 0.2
      },
      "component_source_tier": {
        "tm_ebay": "tier_4_ebay_secondary",
        "plc_ebay": "tier_4_ebay_secondary",
        "ppi_process": "tier_1_bls_ppi",
        "ppi_hvac": "tier_1_bls_ppi",
        "edgar_sentiment": "tier_3_edgar_filings",
        "cooling": "tier_2_channel_partner"
      },
      "component_values": {
        "tm_ebay": 87.61,
        "plc_ebay": 190.48,
        "ppi_process": 106.24,
        "ppi_hvac": 103.14,
        "edgar_sentiment": 165.14,
        "cooling": 100.0
      },
      "component_n_comps": {
        "tm_ebay": 670,
        "plc_ebay": 145,
        "ppi_process": 24,
        "ppi_hvac": 24,
        "edgar_sentiment": 4,
        "cooling": 20
      },
      "source_mix": {
        "tier_1_pct": 0.4,
        "tier_2_pct": 0.2,
        "tier_3_pct": 0.2,
        "tier_4_pct": 0.2,
        "tier_5_pct": 0.0
      },
      "rebase_window_days": 730,
      "n_components": 6,
      "indicative": false,
      "component_price_primitive": {
        "tm_ebay": "ebay_transacted",
        "plc_ebay": "ebay_transacted",
        "ppi_process": "gov_price_index",
        "ppi_hvac": "gov_price_index",
        "edgar_sentiment": "edgar_filing_signal",
        "cooling": "channel_list"
      }
    }
  }
}