CapExplorer Terms of Use

Version 2026-10-01 · Effective October 1, 2026

These terms are an agreement between you and Lokesh Gangaramaney ("we", "us"), the individual developer of the CapExplorer app ("the app"). By downloading or using the app you agree to them. If you don't agree, please don't use the app.

1. What the app is

CapExplorer is an educational app. It uses interactive 3D models to show how spending on AI data centers flows to the companies that supply each part. It has no accounts, needs no sign-in, and works offline.

2. Not investment advice

Everything in the app is for information and education only. Nothing in it is a recommendation to buy, sell or hold any security. It is not financial, investment, legal, tax or accounting advice. We are not a broker-dealer or an investment adviser. Before making any investment decision, do your own research or consult a licensed professional.

3. Estimates, not facts

The dollar figures are an illustrative spending model, not audited figures:

• Our own estimates. Many amounts, marked "~" or "est.", are our analysis built on public sources, and each comes with a range.
• Not a verified allocation. The model is not a verified bill of materials or a measured market share.
• Overlapping revenues. Revenues along a supply chain overlap: a chip maker's sale can include what it pays its own suppliers. The "upstream" figures are already inside the $1,000 and are not added to it.
• Point in time. Sources were read at a point in time, and figures change. The app may not be updated each time they do.

4. No warranty

The app and everything in it are provided "as is" and "as available", without warranties of any kind, express or implied. This includes warranties of accuracy, completeness, fitness for a particular purpose and non-infringement. We don't promise that the app will be error-free or uninterrupted.

5. Limitation of liability

To the fullest extent the law allows:

• We will not be liable for any indirect, incidental, special, consequential or punitive damages, or for any lost profits, trading losses or lost data, arising from your use of the app or reliance on its content.
• Our total liability for any claim relating to the app will not exceed the greater of the amount you paid for the app and US $10.

Some jurisdictions don't allow certain limits on liability; there, these limits apply as far as the law permits.

6. Company names and trademarks

The app names many companies and products, such as NVIDIA, Blackwell, GB200, NVLink, TSMC, ASML, Broadcom, Micron and Vertiv. Those names, ticker symbols and trademarks belong to their owners. We use them only to identify the companies and products we describe. We are not affiliated with, sponsored by or endorsed by any of them.

7. The 3D models and sources

Models. The 3D models are original works created by us from publicly described architectures. They are illustrative, not official designs, and they are not exact in layout, part counts or scale. They contain no third-party logos, textures or scanned assets.

Sources. The app cites its sources with attribution and describes their figures in our own words. Tapping a source opens the publisher's page in your browser; that page is governed by its own terms.

Corrections. If you'd like a citation corrected or removed, contact us (section 14).

8. Your licence to use the app

We grant you a personal, non-exclusive, non-transferable, revocable licence to use the app on Apple-branded devices that you own or control, for your own non-commercial use, as permitted by the Usage Rules in the Apple Media Services Terms and Conditions.

You may not:

• copy, modify, or distribute the app or its content
• extract the 3D models or data
• reverse-engineer the app, except where the law expressly permits it
• use the app to build a competing product
• remove any notices

The app, its models, text and design are owned by Lokesh Gangaramaney and protected by copyright and other laws. All rights not expressly granted are reserved.

9. Apple

These terms are between you and us, not Apple. Apple is not responsible for the app or its content.

• Maintenance and support: we alone are responsible for maintenance and support. Apple has no obligation to provide any.
• Warranty: if the app fails to conform to any applicable warranty, you may notify Apple, and Apple will refund the purchase price, if any. To the maximum extent the law permits, Apple has no other warranty obligation for the app.
• Product claims: we, not Apple, are responsible for addressing any claims by you or a third party relating to the app. This includes product liability claims, claims that the app fails to conform to legal or regulatory requirements, and consumer-protection claims.
• Intellectual property: if a third party claims that the app or your use of it infringes their intellectual property, we, not Apple, are responsible for the investigation, defence, settlement and discharge of that claim.
• Legal compliance: you confirm that you are not located in a country subject to a US Government embargo or designated as a "terrorist-supporting" country, and that you are not on any US Government list of prohibited or restricted parties.
• Third-party beneficiary: Apple and its subsidiaries are third-party beneficiaries of these terms. Once you accept them, Apple has the right, and is deemed to have accepted the right, to enforce them against you.

10. Privacy

The app collects no personal data. See the CapExplorer Privacy Policy, available in the app and on our website.

11. Changes and ending these terms

We may update the app and these terms. Updated terms take effect when they are published in the app, and the version and date above will change. If you keep using the app after a change, you accept the updated terms.

You may stop using the app at any time by deleting it. We may end your licence if you breach these terms.

12. Governing law and disputes

Massachusetts law governs these terms, without applying conflict-of-law rules that would select another jurisdiction, except where mandatory law provides otherwise. Subject to any mandatory jurisdiction and venue rights you have, disputes may be brought in the state or federal courts located in Massachusetts, and both parties consent to those courts. Please contact us first; most concerns can be resolved informally.

13. Severability

If any part of these terms is found unenforceable, the rest remains in effect. Our not enforcing a provision is not a waiver of it.

14. Contact

Lokesh Gangaramaney, Massachusetts, United States.

For questions, corrections, legal notices and complaints, email lgangaramaney@gmail.com. This contact does not replace formal service-of-process rules.