What Is Actually Inside an NVIDIA GPU?

Highlights

• NVIDIA discloses no elemental bill of materials for its GPUs, making precise rare-earth content claims impossible to verify publicly.
• Critical minerals like tungsten, tantalum, cobalt, and gallium appear in GPU supply chains, but these are not rare-earth elements.
• Rare-earth exposure in AI infrastructure is clearest in NdFeB magnets used in fans, motors, and storage devices—not in the GPU die itself.
• China controls roughly 71% of mined rare-earth production and an estimated 90% of processing, creating upstream concentration risk for NVIDIA's supply chain.
• Strategic vulnerability stems from highly specialized materials with few qualified alternative suppliers, not from rare-earth mass per GPU.